- The dollar gains moment after data and increases in yields.
- USD / JPY jumps above 109.00, and above the 20-day average.
The USD / JPY accelerated the bullish run and rose to 109.21, the highest level since April 13. The boost came from a rise in Treasury yields, which weakened the yen while strengthening the dollar.
In the last few minutes, equity markets had a pullback that helped limit the yen’s decline in the market. The dollar remains strong, among the best performing currencies.
Data released Thursday showed that the US economy expanded at a higher rate than was estimated in the first quarter. On Wednesday the Fed kept monetary policy unchanged, as expected. The dollar fell after the meeting, but has already recovered lost ground on several fronts.
The raises gain moment
The price with the recent rally has returned above the 20-day moving average that is passing through 108.98. Since the recent low the USD / JPY has risen more than 150 pips. This rapid advance could anticipate some kind of pause or downward correction, but at the same time, it is asserting itself, giving more strength to the dollar.
One level to look at is the 109.10 and 109.30 area, which was a major resistance last month. In case of consolidating above, a bullish extension towards the 110.00 zone could be expected.
Technical levels
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
