- USD / JPY loses ground for the fourth day in a row
- The dollar with mixed results in the market.
The USD / JPY extended the bearish run and fell to 104.16, the lowest level since November 9. It remains in the area of the lows with the bearish tone intact and starting to look closer at 104.00.
The Correlation between stocks and USD / JPY has deteriorated, although today they are already moving in the same direction. In the previous days, despite the rise in the stock markets and that the yields of the Treasuries remained with part of the recent rise, the yen continued to strengthen. That better tone today is manifesting itself more clearly.
US data will be released on Tuesday, including the retail sales report and a housing sector index. Jerome Powell, the chairman of the Federal Reserve, will also speak. In Japan, foreign trade figures will be released on Wednesday.
USD / JPY maintains a dominant downtrend background that is expected to remain in force as long as there is no daily close above 105.80. To the downside, pressures could intensify with a drop below 104.00.
Technical levels
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