HelenRush

JPY: Some Risk Averse Investors Wanted

FX:USDJPY   U.S. Dollar / Japanese Yen
The JPY lost 0.6% in the morning on the back of the release of the Bank of Japan Monetary Policy Meeting Minutes. During the first half of the day, USD/JPY touched the highs at 114.73, which is the lowest level for the Japanese currency since last March.
There were different reasons behind the slump, and among them, we may emphasize the impact of 10-years Treasury yields, as well as some regional issues. Firstly, Trump expressed sharp criticism of the trade relations between the US and Japan. Frankly speaking, the US president thinks little of any regional trade partnership, including the Transatlantic Trade and Investment Partnership (TTIP).
Another bad news for the Yen was Mr. Kuroda’s comments. The BoJ Governor told the current monetary policy was enough to achieve 2% target level. However, the USD-bulls did not manage to keep gains, and the pair came back to its familiar range at the 114.20-25 area. If the pair closes below the 114.00 level, the bears will have a chance to test the 113.60 support level , especially, given the pullback in Treasury yields.
In case of any risk aversion, the pair will move below the mentioned area.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Help Center Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing TradingView Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out