- The yen gains momentum in the market before the American session.
- USD / JPY with its sights on the 115.50 support zone.
The USD / JPY climbed hours ago to 115.84, the day’s high, and then reversed direction, dropping to 115.57, erasing the day’s gains.. The pair remains near 115.55, unchanged from Friday and trading with a slight negative bias in the very short term.
Although the dominant trend continues in favor of the dollar, in the short term there is a correction that for the moment has support and a brake at 115.50 / 60. The break of this level would enable more lows. To the upside, at 115.85 a short-term bearish line is passing which, if broken, could end the correction.
The USD / JPY loss for the time being is in line with a pullback from month highs in Treasury yields and some stability in equity markets. The dollar presents mixed results. The DXY rises 0.19% and is trading at 95.90.
With no US shock data on Monday, the focus when it comes to economic figures is on what will be Wednesday’s inflation numbers. Last Friday the employment report showed a lower than expected increase in non-farm payrolls, but at the same time a drop in the unemployment rate and a rise in income.
Technical levels
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
