The USD/JPY pair recovered some ground and trades near a daily high at 108.54, with the dollar taking a breath after yesterday’s slump, although retaining its intrinsic weakness. Now, dollar/yen needs to pierce 108.00 to continue its slide, Valeria Bednarik, Chief Analyst at FXStreet, reports. Dollar’s sell-off on pause “The change in the market’s mood seems related to the earnings season, as big names will soon start reporting, spurring profit-taking. Also, speculative interest turned cautious ahead of a fresher catalyst. Meanwhile, Japan published the February Tertiary Industry Index, which resulted at 0.3% MoM, better than the previous -1.7%.” “USD/JPY retains its near-term bearish stance, despite the intraday advance. The pair needs to break below the 108.00 figure to resume its decline, while the corrective advance may extend on a clear break above the mentioned 20 SMA, currently around 108.55.” 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 NZD/USD retreats to 0.7200, stays in the positive territory FX Street 2 years The USD/JPY pair recovered some ground and trades near a daily high at 108.54, with the dollar taking a breath after yesterday's slump, although retaining its intrinsic weakness. Now, dollar/yen needs to pierce 108.00 to continue its slide, Valeria Bednarik, Chief Analyst at FXStreet, reports. Dollar's sell-off on pause "The change in the market's mood seems related to the earnings season, as big names will soon start reporting, spurring profit-taking. Also, speculative interest turned cautious ahead of a fresher catalyst. Meanwhile, Japan published the February Tertiary Industry Index, which resulted at 0.3% MoM, better than the previous -1.7%." "USD/JPY retains… 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.
