- USD / JPY rises for the sixth session in a row.
- The price remains in the zone of maximums, even despite the correction of the dollar.
The USD / JPY maintained its demand during the European session and it remains in the zone of maximums since August 2020, around 106.90. The price remained close to that level, even despite the downward correction experienced by the dollar in recent hours.
In the Asian session, USD / JPY fell slightly as Treasury yields fell and stocks fell, following warnings from a Chinese financial regulator about bubbles in foreign markets. . After finding support at 106.70, the pair resumed higher.
Today’s is the sixth consecutive rise. Several technical indicators remain close to overbought levels, but there is still no indication of a downward correction. Should risk appetite weaken, this could favor the yen. Vale clarifies that even on Friday, with the stock markets falling, the USD / JPY rose.
With no US economic data ahead, the news could come from speeches by Leal Brainard, Governor of the Federal Reserve and by Mary Daly, from the San Francisco Fed. From the Fed, for now, the rise in Treasury bond yields has not been raised as a problem. On Thursday Jerome Powell will speak and on Friday it will be the turn of the employment report.
Technical levels
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