FXStreet — The currency pair USD/JPY for the week of kick-off, there is no clear direction due to lack of impetus. Most recently, the Pair was quoted at 111,30 and 0.05 per cent in the Plus trend sideways.
Despite the high level of selling interest around the Greenback, the currency is supported by the strong Performance of global stock indices. This is reflected in a higher risk appetite of market participants, which weakened the safe haven known to the Japanese Yen.
After a bullish Gap at the start of the week climbed, the US Dollar Index during the European business on a daily high at 97,34, could the level but do not hold, and was again under pressure. As a result, the Greenback slipped to 96,78 and marked the lowest level since the beginning of November. The Index was 0.14 per cent in the Minus and was listed on 96,86 points.
From the United States, a positive record has reached us today. So climbed the purchasing managers ‘ index for the Chicago Region of 0.07 in the previous month to 0.49 points in April. Further details of the report revealed that employment outside of agriculture rose by report month of April to 211.000, according to 79.000 in March.
In the further course of the American business Fed-chief of Philadelphia Patrick Harker and his colleagues from the Minneapolis Fed Neel Kashkari will speak on monetary policy. Dovish comments are likely to weigh on the Greenback further, and therefore, the support is due to the higher risk appetite on shaky legs.
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USD/JPY aims at 110,10
The day’s high at 111,60 offers first resistance. Further barriers are 112,20 (100-day line), and 113,00 (psychological mark). The chart technical situation is deteriorating, if the Pair of first supports in the Form of the 200-day line (act. in 111,15), the Low of 18. May (110,25) and the lows of 25. April (109,60) below.
** FXStreet News Editorial, FXStreet**