“¢ Trump’s USD-bearish comments prompted some aggressive selling on Thursday. “¢ The USD bulls remained on the defensive and kept exerting some pressure. “¢ Risk-on mood weighed on JPY’s safe-haven appeal and helped limit deeper losses. The USD/JPY pair traded with a mild negative bias on Friday, albeit has managed to hold above one-week lows touched in the previous session. The US President Donald Trump’s overnight comments triggered a broad-based US Dollar sell-0ff and prompted some aggressive long unwinding trade around the major. Trump expressed displeasure about the Fed’s monetary tightening and also raised concerns about the recent USD strength. The pair witnessed a sharp intraday retracement of over 100-pips from a six-month high level of 113.18 but found some support near the 112.00 handle and finally managed to end the day near mid-112.00s. The greenback remained on the back-foot through the Asian session on Friday and did little to assist the pair to build on overnight rebound. However, the prevalent risk-on mood, as depicted by positive trading sentiment around equity markets weighed on the Japanese Yen’s safe-haven appeal and helped limit further downside. Meanwhile, the market had a rather muted reaction to Japanese economic data, showing that the national core CPI ticked higher to 0.8% in June and all industry activity index for May came in slightly better than expected at 0.1%. In absence of any major market moving economic releases from the US, the USD price dynamics and the broader market risk sentiment will play an important role in influencing the pair’s momentum on the last trading day of the week. Technical outlook Omkar Godbole, Analyst and Editor at FXStreet explains: “USD/JPY is seen falling to ascending trendline support, currently located at 111.07, in the next few days. A close below the rising trendline would signal the rally from the March low of 104.63 has ended and could yield a deeper drop to levels below 110.00.” 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 EOS network transaction speed exceeds Visa’s, but EOS/USD down 6% on a daily basis despite record transaction speed FX Street 5 years "¢ Trump's USD-bearish comments prompted some aggressive selling on Thursday. "¢ The USD bulls remained on the defensive and kept exerting some pressure. "¢ Risk-on mood weighed on JPY's safe-haven appeal and helped limit deeper losses. The USD/JPY pair traded with a mild negative bias on Friday, albeit has managed to hold above one-week lows touched in the previous session. The US President Donald Trump's overnight comments triggered a broad-based US Dollar sell-0ff and prompted some aggressive long unwinding trade around the major. Trump expressed displeasure about the Fed's monetary tightening and also raised… 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.
