VOT Research Desk
Bears continue to hold the sway for a second straight day as the USD/JPY stays down at an intraday low of 138.55.
The market’s subsiding of earlier concerns as well as pessimistic indications from the options market for the USD/JPY pair may be responsible for the yen pair’s most recent losses.
Having said that, the one-month risk reversal (RR) for the USD/JPY pair, the ratio of call to put premiums, and the previous day’s -0.210 RR number prepare for the second straight weekly print.
On the other hand, the USD/JPY pair’s most recent weakening appeared to be supported by a decline in China’s daily communicable disease infections from an all-time high and the introduction of more support measures for the country’s struggling real-estate sector.
