FXStreet — The upward momentum of the Japanese Yen is derived from its Status as a safe haven, the USD/JPY to a daily low in the area of the 112,40/30.
USD/JPY falls with U.S. yields, Trump
The Pair intensified its decline in the 2. Session in a row, after last week’s High at 114,40 was formed and today the Low was achieved in 112,30.
The decline of the pair is derived from the poor Performance of the yields in the US money market. The 10-year yield falls to 2.29 %, where it currently looks after a stabilization.
The increasing risk aversion increases the demand for safe havens such as the JPY, while the USD is sold on the other side. The US Dollar Index, which represents the strength of the USD vs. its 6 most important rival, reached its lowest level since the beginning of November.
• US Dollar continues to fall with Trump scandal
To expect us today, the weekly US EIA crude oil stocks, before morning, the Q1 GDP of Japan.
USD/JPY tested levels
Currently, the daily loss -0,58% 112,46 and the next supports is at 112,15 (20-day MA), 111,09 (38,2 % Fibo of the 108,11-114,39) and 111,89 (55-day SMA). On the other hand, Resistances lie at 112,89 (100-day SMA), 112,91 (23,6 % Fibo from 108,11-114,39) and 114,39 (High 11. May).
** FXStreet News Editorial, FXStreet**