USD/JPY Price Analysis: Sellers continue to lurk at 21DMA USDJPY Technical Analysis Currencies BOJ DollarIndex
US Dollar and US Treasury bond yields stay weak on dovish Fed expectations. is attempting a minor rebound after nearly testing the 129.00 support level earlier in Asian trading this Monday. The sentiment around the currency pair remains undermined by sluggish US Treasury bond yields and a broadly weaker US Dollar.
Meanwhile, investors assess the Minutes of the Bank of Japan’s latest policy meeting, which showed that “several members said effects of powerful monetary easing will continue even ifwidens band around its yield target.” This is helping the Japanese Yen sellers to retain control amid holiday-thinned market conditions.
The 21DMA is now aligned at 131.03, above which the next powerful resistance is seen at the upper boundary of a falling wedge formation at 132.34.
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