USD/JPY has intensified the leg lower on Thursday and it has now breached the key support at 106.00. Persistent risk aversion and lower yields boost the demand for the yen, Pablo Piovano from FXStreet informs. Key quotes “The resumption of the risk aversion in combination with declining US yields is favouring the demand for the safe-haven JPY, always against the broader backdrop of unremitting concerns surrounding the COVID-19.” “The bearish scenario is set to prevail at least in the short-term horizon, as the greenback could still suffer another interest rate cut by the Fed at the March 17-18 meeting.” “Occasional rallies in USD/JPY are still seen as selling opportunities and are expected to lose momentum in the 107.60 region ahead of the 200-day SMA at 108.34.” “Further weakness is therefore expected to materialize when below this key barrier. Looking south, there are no support levels of significance until 105.05.” 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 US NFP Preview: 6 Major Banks expectations for February payrolls report FX Street 2 years USD/JPY has intensified the leg lower on Thursday and it has now breached the key support at 106.00. Persistent risk aversion and lower yields boost the demand for the yen, Pablo Piovano from FXStreet informs. Key quotes “The resumption of the risk aversion in combination with declining US yields is favouring the demand for the safe-haven JPY, always against the broader backdrop of unremitting concerns surrounding the COVID-19.” “The bearish scenario is set to prevail at least in the short-term horizon, as the greenback could still suffer another interest rate cut by the Fed at the March 17-18 meeting.” “Occasional… 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.
