USD/JPY continued gaining traction for the fourth consecutive session on Wednesday. The upbeat market mood undermined the safe-haven JPY and remained supportive. The emergence of some fresh USD selling kept a lid on any strong gains for the major. The USD/JPY pair maintained its bid tone through the early North American session, albeit has retreated around 20 pips from three-week tops set earlier this Wednesday. The pair added to this week’s positive move and gained some follow-through traction for the fourth consecutive session on Wednesday. The uptick was sponsored by the prevalent risk-on mood, which tends to undermine the Japanese yen’s safe-haven demand. The global risk sentiment remained well supported by the optimism over a vaccine for the highly contagious coronavirus diseases and hopes of a US economic recovery. Bulls further took cues from some strong follow-through pickup in the US Treasury bond yields. However, the impasse over the next round of the US fiscal stimulus led to some fresh selling around the US dollar and capped the USD/JPY pair near the 107.00 mark. The USD remained depressed despite Wednesday’s hotter-than-expected US consumer inflation figures. Meanwhile, the pair’s inability to capitalize on the move warrants some caution for bullish traders and makes it prudent to wait for some strong follow-through buying before positioning for any further appreciating move. Technical levels to watch 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 Australian Employment Preview: AUD/USD to get a boost on a surprise reading FX Street 2 years USD/JPY continued gaining traction for the fourth consecutive session on Wednesday. The upbeat market mood undermined the safe-haven JPY and remained supportive. The emergence of some fresh USD selling kept a lid on any strong gains for the major. The USD/JPY pair maintained its bid tone through the early North American session, albeit has retreated around 20 pips from three-week tops set earlier this Wednesday. The pair added to this week's positive move and gained some follow-through traction for the fourth consecutive session on Wednesday. The uptick was sponsored by the prevalent risk-on mood, which tends to undermine the Japanese… 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.