The US dollar has rallied again during the trading session on Wednesday as the Japanese yen continues to see a lot of weakness. At this point, we are testing the major resistance barrier above.
The US dollar fell a bit against the trading session on Monday against the Japanese yen, only to bounce back towards the ¥110 level.
A sell-off in the global equity markets is driving up safe-haven demand for the Japanese Yen.
The US dollar spike quite drastically during the week after the Federal Reserve spook the markets by suggesting they may actually see inflation.
The US dollar initially fell during the trading session on Friday, but then turned around to show signs of life again. However, there is a major divergence flashing.
It’s a relatively quiet day on the economic calendar. With the Pound back at sub-$1.40 against the Dollar, retail sales figures will need to impress to prevent further downside.
The US dollar give up early gains against the Japanese yen during trading on Thursday, as we slammed into a familiar resistance barrier.
The British pound initially tried to recover during the trading session on Thursday, but then got absolutely crushed as the “risk off” environment took hold.
It’s a relatively busy day on the economic calendar after impressive stats from NZ and Australia. Economic data from the Eurozone and the U.S will be in focus.
The US dollar initially tried to rally during the trading session on Wednesday, but as you can see, we have seen a little bit of a pushback.
The British pound has gone back and forth during the course of the trading session yet again, as we are hanging around the ¥155 level.
The direction of the USD/JPY is likely to be determined by trader reaction to 110.168 and 109.988.