The Japanese Yen (JPY) ticks higher against its American counterpart during the Asian session on Tuesday and recovers a major part of the previous day's losses to a fresh 34-year low, though any meaningful recovery still seems elusive.
The Japanese Yen draws some support from the possibility of a government intervention. The divergent BoJ- Fed expectations and easing Middle East tensions cap the safe-haven JPY. Traders also seem reluctant ahead of the key US macro data and BoJ meeting later this week.
Traders now look to the flash US PMIs for some impetus, though the focus remains on the Advance US Q1 GDP on Thursday and the Personal Consumption Expenditures Price Index on Friday. Technical Analysis: USD/JPY needs to consolidate before the next leg up, 155.00 hold the key for bullish traders From a technical perspective, the Relative Strength Index is still flashing overbought conditions on the daily chart and holding back the USD/JPY pair from placing fresh bets.
BOJ Riskappetite Fed Currencies
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Trading Emerging Market Forex Pairs - USD/MXN, USD/BRL, USD/ZAR, USD/INR, USD/CNHIn the dynamic realm of forex trading, emerging market currency pairs have garnered significant attention in recent years for their unique blend of volatility and potential returns.
Read more »
US Dollar Still on Bullish Path; Setups on EUR/USD, GBP/USD, USD/JPY, USD/CADThis article examines the technical outlook for EUR/USD, GBP/USD, USD/JPY and USD/CAD, dissecting major price thresholds that traders should keep an eye on as potential support or resistance levels in the coming trading sessions.
Read more »
Japanese Yen trades above multi-decade low against USD, not out of the woods yetThe Japanese Yen (JPY) is seen oscillating in a narrow trading band against its American counterpart during the Asian session on Friday and consolidating this week's heavy losses to the lowest level since 1990.
Read more »
Japanese Yen refreshes multi-decade low against USD, bears not ready to give up yetThe Japanese Yen (JPY) continues with its struggle to register any meaningful recovery against its American counterpart and drops to a fresh multi-decade low during the Asian session on Monday.
Read more »
Japanese Yen slides back closer to multi-decade low against USD, bears retain controlThe Japanese Yen (JPY) witnessed an intraday turnaround from over a two-week high touched against its American counterpart on Friday and finally settled near the lower end of its daily trading range.
Read more »
Japanese Yen remains confined in a range near multi-decade low against USDThe Japanese Yen (JPY) oscillates in a narrow trading band near a multi-decade low during the Asian session on Tuesday and for now, seems to have stalled a two-day-old weakening trend against its American counterpart.
Read more »