- Yen among the best performing currencies due to falling yields.
- USD / JPY extends the pullback after failing to hold above 110.00.
The USD / JPY continued to decline and set new lows for the day at 109.58. It is trading around 109.60, validating a 20 pip drop from Friday’s close.
The day is being of low volatility in a context of low volume due to the US and UK holidays. The USD / JPY retreats due to the combination of a limited weakness of the dollar in the market and at the same time, a rise in the yen.
The Japanese currency continues to be favored after the fall in the yields of the Treasury bonds last Friday and also by the rejection of the USD / JPY of levels above 110.00.
On Friday USD / JPY hit 110.19, the highest level in seven weeks. But it failed to settle above 110.00 and began to correct lower. For now, it found support above the four-hour 20 moving average that is moving past 109.60. A return above 109.90 could give the dollar a boost.
Technical levels
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