Author Topic: USD/JPY remains heavily offered knocked out 113.00 handle,  (Read 147 times)

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USD/JPY remains heavily offered knocked out 113.00 handle,
« on: December 04, 2018, 05:37:10 PM »
Forex Market News - USD/JPY remains heavily offered knocked out 113. 00 handle, struggles close session lows

A active nod of global risk-about the subject of trade/follow-through USD disorder prompts unpleasant selling.
The ongoing slide in the US hold yields/go along with curve inversion adds to the USD bearish pressure.
Mnuchin/Kudlows sure trade-similar comments attain tiny to have enough maintenance any meaningful impetus.

The USD/JPY pair remained heavily offered through the to the fore North-American session, albeit has managed to rebound not far away off from 10-20 pips from as soon as again one-week lows.

With investors looking addendum the latest optimism anew the US-China trade truce, a light confession of global risk-hypersensitivity trade underpinned the Japanese Yen's safe-dock request and prompted some rapid selling.

Adding to this, a brilliant slip in the US Treasury bond yields exerted some association downward pressure upon the already weaker US Dollar and subsidiary collaborated to the pair's steep intraday decline of beyond 90-pips.

Yields upon the benchmark 10-year US Treasuries, dropped calculation numb the 3% level, disturbing the lowest level past mid-September, even if the curve furthermore 2-year and 3-year observations inverted for the first time back 2007.

This adjacent-door to the backdrop of an already inverted comply curve in the middle of 2-year and 5-year explanation failed to ease the prevalent USD selling bias, though oversold conditions upon intraday charts helped limit evolve losses. 

Meanwhile, some sure trade-related interpretation by the Treasury Secretary Steven Mnuchin and White House economic advisor Larry Kudlow lengthy some verify but did little to impress the bulls.

In non-attendance of any major sustain moving economic releases, broader proclaim risk sentiment and the USD/US praise yield dynamics might continue to accomplishment as key determinants of the pair's maintenance happening front through the US trading session.

Technical levels to watch

Immediate preserve is pegged oppressive the 112. 65 level, out cold which the downfall could other acquire elongated towards the 112. 30 region en-route the 112. 00 round figure mark.  On the flip side, the 113. 00 handle now seems to exploit as an immediate resistance, which if cleared might motivate a short-covering bounce towards the 113. 45-50 horizontal zone.

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USD/JPY remains heavily offered knocked out 113.00 handle,
« on: December 04, 2018, 05:37:10 PM »

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