- Dollar weakness pushes USD / JPY lower.
- Appetite for risk does not stop the decline.
He USD / JPY is falling for the third day in a row and has just broken below 103.00 for the first time since March. The price fell to 102.86 and remains in the area of ​​the lows.
The fall occurs in a context of general weakness of the dollar. Dollar Index (DXY) is at two-year lows below 90.00. Global stock market indicators hit record highs, but this did not weaken the yen.
The day after the Federal Reserve meeting, the dollar resumed its downward trend. The economic data released today was mixed. Initial claims for jobless benefits rose to the highest since September, and real estate data was better than expected.
From a technical point of view, the breaks in the 103.15 area, reinforce the current downtrend which will hold up as long as it remains below 105.30, where it is passing an eight-month bearish line. If it affirms below 103.00, more losses would be expected. The next strong support can be located at 102.50.
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.
