1) As anticipated earlier, the USD/JPY pair followed the direction of the Nikkei 225 and opened with a significant gap lower today's trading session.
2) The pair retraced at the 61.8% Fib level which aligns with a major horizontal resistance level.
3) Futures positioning supports a stronger JPY vs USD
4) USD Index weakened today in the direction of US 2y, 5y, and 10y yields
5) Safe-haven flows could further support the JPY (Our risk sentiment index shows a reading of 3/10, everything below 5 is risk-off).
2) The pair retraced at the 61.8% Fib level which aligns with a major horizontal resistance level.
3) Futures positioning supports a stronger JPY vs USD
4) USD Index weakened today in the direction of US 2y, 5y, and 10y yields
5) Safe-haven flows could further support the JPY (Our risk sentiment index shows a reading of 3/10, everything below 5 is risk-off).
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.