Yen gains momentums across the board on Tuesday. USD/JPY falls while other crosses remain sideways. The USD/JPY extended the decline and printed a fresh daily low at 103.68. It is trading near the bottom, facing bearish pressure. It is erasing most of the Monday’s American session gains, approaching the November low at 103.16. The yen gained ground across the board over the last hours, led by the decline in USD/JPY. At the same time, the US dollar remains mostly steady against commodity and emerging market currencies and fell versus the pound. Equity prices are modestly higher holding onto recent ranges. Looking again at the November low If the USD/JPY manages to hold under 103.70, the bearish momentum could intensify, suggesting a test of the November low at 103.16. Before that level, a support is seen around 103.50 (Dec 14 low). It the pair rises back above 103.7 it would alleviate the negative tone. For a more sustainable recovery, the dollar needs to break above 104.15/20. On a wider perspective, the bearish trend will hold as long as price remains under 105.20/30. 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 US: Industrial Production rises on solid increase in manufacturing – Wells Fargo FX Street 2 years Yen gains momentums across the board on Tuesday. USD/JPY falls while other crosses remain sideways. The USD/JPY extended the decline and printed a fresh daily low at 103.68. It is trading near the bottom, facing bearish pressure. It is erasing most of the Monday’s American session gains, approaching the November low at 103.16. The yen gained ground across the board over the last hours, led by the decline in USD/JPY. At the same time, the US dollar remains mostly steady against commodity and emerging market currencies and fell versus the pound. Equity prices are modestly higher holding onto recent ranges.… 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.
