- USD / JPY is posting small daily losses on Thursday.
- The DXY US Dollar Index appears to close slightly above 92.00.
- The US stock and bond markets are closed due to the Thanksgiving holiday.
After closing virtually unchanged at 104.45 on Wednesday, USD / JPY has moved slightly lower and appears to have stabilized around 104.30 Thursday.
Markets remain subdued
Despite the modest recovery seen in the US dollar DXY index, the USD / JPY has struggled to gain traction due to the market’s cautious attitude, as reflected in the uninspiring performance of the major European stock indices, has helped the JPY to stay strong against the rest of currencies.
In the absence of releases of significant macroeconomic data and fundamentals, the DXY index, which closed the past two days in negative territory, rose on Thursday and was last seen gaining 0.12% at 92.10. However, this recovery seems to be a technical correction from the last crash and it is unlikely to gain momentum.
Meanwhile, the US equity and bond markets are closed due to the Thanksgiving holiday and USD / JPY is likely to extend its sideways movement for the remainder of the day.
In the early trading hours of the Asian session, data from the Tokyo CPI consumer price index and investment in foreign bonds in Japan could generate new momentum.
USD / JPY technical levels
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