- Dollar weakness pushes USD / JPY lower, even despite Wall Street rise.
- Dollar is on track to have the lowest weekly close since 2016.
USD / JPY extended the slide and fell back to 103.04, marking a two-week low. The price remains near 103.00, under pressure and with a loss of 50 pips so far this day.
The Wall Street’s recovery, after Tuesday’s slide, did not support USD / JPY, which continued to decline. If the week ends at current levels, it would be the lowest closing in this season since the fourth quarter of 2016. For now, the 103.00 / 05 zone is avoiding a further decline. If it fails, the attention will go to 102.85, which is the minimum for this month. To the upside, the first resistance looms at 103.25, followed by 103.40.
He dollar The market continues downhill, with the DXY falling to two-year lows below 90.00. The index fell to 89.65, before bouncing slightly. The bearish bias remains intact with respect to the greenback, in another low volume session.
Wall Street futures point to a positive open with gains in the main indices of around 0.30%, recovering after the decline that occurred at the close of Tuesday, after the leader of the majority in the Senate, the Republican Mitch McConnell, will block the Democrats’ attempt to increase direct payments to $ 2,000 from $ 600. The approval of the AstraZeneca / Oxford vaccine in the United Kingdom and the advancement of the Brexit agreement, contributed to improve the mood of the markets.
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.
