USD/JPY bounces slightly from the minimum in six weeks

The yen is rising modestly over the market despite the progress in the bags throughout the world. Futures on Wall Street point to an opening on record levels of the Dow Jones, before the presentation of results to corporate. Tensions over the situation with North Korea did not have a great impact.

The japanese currency lost time in the last few hours, although the day is showing a limited volatility, it seems natural for the Monday. In the next few hours there will be data from the united States, with the report of the Chicago PMI and home sales pending. The report key of the week will be the employment of the Friday.

The USD/JPY is falling modestly on Monday. During the asian session, the pair fell up to 110.29, reaching the lowest level since the 15th of last June. From there bounced to the upside, rising to 110.75. Is currently trading at 110.55, waiting for the opening of Wall Street.

Technical overview

The trend remains bearish and the crossing now remains under the area of 110.70, which contained the low days ago and it was broken on Friday. Get up above, the downward pressure can be reduced.

Above this level, the upload could extend to 111.00 and then the next resistance will be 111.30 (maximum of 28 July). In the opposite direction, below the lows of the day (110.29), 110.00 will be exposed. The next support can be seen at 109.85 and 109.60/65 (minimum of 12 June).

Leave a Reply