The US Dollar (USD) fails to recover from Tuesday’s losses against the Japanese Yen (JPY), following last Tuesday’s plunge of 240 pips following the r
USD/JPY trades down by a slight 0.07% after a dramatic 240-pip plunge last Tuesday, attributed to perceived intervention by Japanese authorities.
With US Treasury bond yields easing from yearly highs and lingering concerns about further interventions, USD/JPY’s upward momentum is stifled. fails to recover from Tuesday’s losses against the Japanese Yen , following last Tuesday’s plunge of 240 pips following the release of the JOLTs report, which was perceived as an intervention by Japanese authorities. TheUSD/JPY pair lingers at around 148.
Given the backdrop, the USD/JPY struggles to edge higher, also weighed by US Treasury bond yields easing from yearly highs. The US 10-year benchmark note rate hit 4.884% during the day but treads water, hovering around 4.739% at the time of writing.portrays the pair as neutral to upward biased, but since testing the Kijun-Sen and dropping below 149.00, the path of least resistance Is slightly tilted to the downside. The first support is the Tenkan-Sen at 148.
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