USD/JPY takes a U-turn from Monday’s drop that refreshed a multi-month low. Hopes of the US stimulus put a bid on the US equity futures, treasury yields. Efforts from China and upbeat sentiment at the rest of the key economies also support risk rebound. While taking clues from the US equity futures and treasuries, not to forget Asian stocks, USD/JPY takes the bids to 104.81, up 2.33% with the intra-day high of 105.00, during the pre-Europe session on Tuesday. The yen pair bounces off the lowest since late-2016 as US President Donald Trump’s signals to ‘major’ economic measures to counter coronavirus (COVID-19) triggered the risk-on. The same helps the US 10-year and 30-year treasury yields to take a U-turn from their record lows marked the previous day while also supporting the US equity futures to register nearly 3.5% gains by the press time. Also supporting the risk-tone could be China’s opening of Wuhan borders for travelers while Japan’s readiness to announce the second stimulus as well as upbeat comments from Australia and New Zealand. Furthermore, US Vide President Mike Pence’s assurance of enough testing kits in the labs as well as no delay in the Tokyo Olympics can be considered as additional boosters to the risk-on. Traders are now waiting for the clear signals of US President Trump’s real measures to tame the negative implications of the virus. However, the major risk recovery could only take place if there is news of any cures. Technical Analysis A sustained run-up beyond August 2019 low near 104.85 enables the buyers to question October 2019 bottom 106.50. On the contrary, 103.00 and 102.30 should restrict the pair’s near-term declines during its another U-turn. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR Futures: Extra gains remain on the table FX Street 3 years USD/JPY takes a U-turn from Monday’s drop that refreshed a multi-month low. Hopes of the US stimulus put a bid on the US equity futures, treasury yields. Efforts from China and upbeat sentiment at the rest of the key economies also support risk rebound. While taking clues from the US equity futures and treasuries, not to forget Asian stocks, USD/JPY takes the bids to 104.81, up 2.33% with the intra-day high of 105.00, during the pre-Europe session on Tuesday. The yen pair bounces off the lowest since late-2016 as US President Donald Trump’s signals to ‘major’ economic measures to counter… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.