“¢ Risk-on mood dents JPY’s safe-haven status and helped bounce off lows. “¢ The ongoing USD corrective slide seemed to cap any meaningful up-move. The USD/JPY pair has managed to recover early lost ground, albeit struggled to build on the momentum further beyond the 113.00 handle. The pair stalled overnight retracement slide from over three-week tops and was supported by the prevailing risk-on mood, which tends to weigh on the Japanese Yen’s safe-haven status. The uptick, however, seemed lacking any strong conviction amid a heavily offered tone surrounding the US Dollar. The greenback failed to preserve previous session’s strong up-move led by upbeat ADP report and corrected sharply from 17-month tops, primarily on the back of a strong rally in the British Pound, which was eventually seen keeping a lid on any meaningful up-move for the major. Hence, it would be prudent to wait for a follow-through buying interest before traders once again start positioning for an additional near-term up-move. Today’s US economic docket, highlighting the release of ISM manufacturing PMI will now be looked upon for some fresh impetus during the early North-American session. Technical levels to watch On a sustained move beyond the 113.00-113.10 immediate hurdle, the pair is likely to surpass the 113.35-40 supply zone and aim towards reclaiming the 114.00 handle. On the flip side, the 112.75-70 region now becomes an immediate support to defend, which if broken is likely to accelerate the fall towards 112.25 congestion zone en-route the 112.00 handle. 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: Vehicle sales to be temporarily boosted – Nomura FX Street 4 years "¢ Risk-on mood dents JPY's safe-haven status and helped bounce off lows. "¢ The ongoing USD corrective slide seemed to cap any meaningful up-move. The USD/JPY pair has managed to recover early lost ground, albeit struggled to build on the momentum further beyond the 113.00 handle. The pair stalled overnight retracement slide from over three-week tops and was supported by the prevailing risk-on mood, which tends to weigh on the Japanese Yen's safe-haven status. The uptick, however, seemed lacking any strong conviction amid a heavily offered tone surrounding the US Dollar. The greenback failed to preserve… 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.
