logo |

News

    Home   >     Industry    >     Main body

    USD/JPY refreshes monthly bottom below 109.00 as US Treasury yields recover

    Abstract:USD/JPY refreshes monthly bottom below 109.00 as US Treasury yields recover
    re3.png
    •   USD/JPY drops for a fifth consecutive day, marks the heaviest weekly fall since early November.

    •   US-Russia tension escalates, Washington joins hands with Tokyo to discuss China, $2 billion initiative on 5G technology.

    •   Reuters‘ Tankan Survey suggests Japan’s Manufacturers Sentiment brightens in April.

    •   Biden-Suga meet, US Michigan Consumer Sentiment Index will be the key.

      USD/JPY stays depressed for the fifth consecutive day despite the latest bounce off intraday low of 108.61, also the lowest in three weeks, on Fridays Tokyo open. While upbeat Tankan survey data could be cited as a supportive catalyst to the Japanese yen, the recent strength in the US Treasury yields and headlines suggesting US-Japan talks seems to have weighed down the yen pair.

      As per the latest Reuters Tankan poll, Sentiment among Japanese manufacturers strengthened to a more than two-year high in April. The data also justifies recently upbeat figures from the Asian major that backs Bank of Japans (BOJ) cautious optimism. Even so, the BOJ policymakers stay ready to further ease monetary policy if needed as fears of the coronavirus (COVID-19) resurgence loom over Tokyo.

      On the other hand, US President Joe Biden and Japanese Prime Minister Yoshihide Suga as up for a meeting in the White House around 13:30 GMT on Friday. As per the latest update from the US Administration official, conveyed by Reuters, “Biden and Suga to talk in-depth about China.” The official also mentioned that the national leaders will meet one-on-one before their aides join talks. Additionally, chatters surrounding the $2 billion initiative on 5G technology were also loud.

      Given the US-China tussle, Washington‘s discussion with Tokyo may push Beijing towards re-conveying his anger on American politics. Also likely challenging the previous risk-on mood could be the US sanctions on Russia and Bloomberg’s piece suggesting a longer ban on the Johnson & Johnson vaccines usage.

      Amid these plays, US 10-year Treasury yields gain four basis points (bps) from the one-month low flashed the previous day whereas Japans Nikkei 225 rise 0.21% and S&P 500 Futures struggle for a clear direction near the record top.

      Looking forward, the policymakers meeting in the US and American consumer sentiment survey data will be important to watch for fresh impulse. However, the key will be the US bond moves.

      Technical analysis

      Although a two-week-old downward sloping trend line near 109.30 guards short-term upside of USD/JPY, the pair sellers need to break an ascending support line from March 10, near 108.55 to take fresh entries.

    re.PNG

        =================

          WikiFX, a global leading broker inquiry platform!

          Use WikiFX to get free trading strategies, scam alerts, and experts experience!

          ╔═══════════════════════╗

          Android : cutt.ly/Bkn0jKJ

          iOS : cutt.ly/ekn0yOC

          ╚═══════════════════════╝

        choose

    Latest News

    South African Rand

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand

    United States Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand
    Current Rate  :
    --
    Amount
    South African Rand
    Available
    -- United States Dollar
    Risk Warning

    The Database of WikiFX comes from the official regulatory authorities , such as the FCA, ASIC, etc. The published content is also based on fairness, objectivity and fact. WikiFX doesn't ask for PR fees, advertising fees, ranking fees, data cleaning fees and other illogical fees. WikiFX will do its utmost to maintain the consistency and synchronization of database with authoritative data sources such as regulatory authorities, but does not guarantee the data to be up to date consistently.

    Given the complexity of forex industry, some brokers are issued legal licenses by cheating regulation institutes. If the data published by WikiFX are not in accordance with the fact, please click 'Complaints 'and 'Correction' to inform us. We will check immediately and release the results.

    Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.

    Special Note, the content of the Wikifx site is for information purposes only and should not be construed as investment advice. The Forex broker is chosen by the client. The client understands and takes into account all risks arising with Forex trading is not relevant with WikiFX, the client should bear full responsibility for their consequences.