VOT Research Desk
On Friday, there is modest buying interest in the USD/JPY pair, which recovers some of the previous day’s losses to reach a one-and-a-half-week low in the 138.00 neighborhood.
Throughout the first half of the European session, the pair maintains intraday gains and is currently trading just below the 139.00 level, at the top of its daily range.
The safe-haven Japanese yen is threatened by an overall upbeat mood in the equities markets, which is then perceived as a major factor supporting the USD/JPY pair.
In addition, the Bank of Japan’s more dovish position is thought to be hurting the domestic currency and helping the major.
However, the rise lacks bullish confidence and faces the possibility of fizzling out.
|
Daily SMA20 |
143.29 |
|
Daily SMA50 |
144.84 |
|
Daily SMA100 |
141.14 |
|
Daily SMA200 |
133.84 |
