USD/JPY is trading around 103.60, modestly up for the day, as the dollar is grabbing some attention. The pair would turn bullish only on a move beyond 104.40, Valeria Bednarik, Chief Analyst at FXStreet, reports. Key quotes “The market’s mood turned sour. It doesn’t seem to be a clear catalyst behind the U-turn in sentiment, although poor UK Retail Sales figures and mixed growth data coming from the EU exacerbate the dismal sentiment. Also, concerns about lockdown extensions and tighter restrictive measures weigh on the sentiment.” “Japanese data resulted mixed. December National inflation worsened from -0.9% to -1.2% YoY, slightly better than anticipated. The core reading which excludes fresh food prices, printed at -1%. The preliminary estimate of the January Jibun Bank Manufacturing PMI contracted to 49.7 from 50 in the previous month, missing expectations of 50.5.” “The bullish potential is limited as long as the USD/JPY pair remains below the 104.30/40 price zone, while the risk of a steeper decline would increase on a break below 103.25.” 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/USD: Euro shows its strength, ready to challenge the critical resistance at 1.2190 FX Street 2 years USD/JPY is trading around 103.60, modestly up for the day, as the dollar is grabbing some attention. The pair would turn bullish only on a move beyond 104.40, Valeria Bednarik, Chief Analyst at FXStreet, reports. Key quotes “The market’s mood turned sour. It doesn’t seem to be a clear catalyst behind the U-turn in sentiment, although poor UK Retail Sales figures and mixed growth data coming from the EU exacerbate the dismal sentiment. Also, concerns about lockdown extensions and tighter restrictive measures weigh on the sentiment.” “Japanese data resulted mixed. December National inflation worsened from -0.9% to -1.2% YoY, slightly better… 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.
