- The yen among the best performing currencies in the face of a fall in the stock markets.
- USD / JPY fails to move clearly away from 109.00.
The USD / JPY extended the decline and marked a new low for the day at 109.11, after it was learned that US government authorities asked to suspend the use of the Johnson & Johnson vaccine, to investigate cases of blood clots. Then the pair rebounded and rose towards 109.40.
Stock markets have fallen in recent hours, setting new daily lows in Europe. Wall Street futures are also red. They were affected by the announcement about the US vaccination that could be slowed down.
The Treasury yields they set new lows for the day, though they later rebounded. The 10-year rate is 1.67%. In minutes they will be published US inflation data for March, that can have an impact on the markets. An advance of 0.5% is expected in the month in the CPI.
From a technical point of view, the USD / JPY remains on a bearish bias, but for now with strong support above 109.00. If that level yields, volatility could increase. To the upside, the 109.70 zone has become an important resistance, and a consolidation above it would ease the downward pressure.
Technical levels
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