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USD / JPY reaches a low of the session of 108.78
ForexLive
Shares hit new lows on the session with E-minis down nearly 1% on the day, while Treasury yields are also at their lowest. The 10-year returns have fallen 4.5 basis points to 2.167% and more securities like these will certainly not help mitigate the risk climate.
For the USD / JPY pair, the sellers have good control over the pair and, with a break under support at 109.00, they will target the 31st January low at 108.50 then.
It is hard to say how much the pair can fall further at this point, because we have already moved a lot in a day. But the idea that precedes today 's decision is that it was amazing to see the USD / JPY hold up above 109.00 given the lower yields this year. week.
I think the thing to watch for is the 200-day moving average of the S & P 500. Buyers have been hovering at this level for the last two days, but if that goes away eventually, the gate valves will open. and I think they will lend themselves to the strength of the yen at the end of the week.
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