USD/JPY is consolidating around 103.50 as the greenback recovers some ground. Nonetheless, the pair is still at risk of falling and could resume the slide on a break below 103.15, FXStreet’s Chief Analyst Valeria Bednarik reports. Key quotes “The American currency is correcting extreme overbought conditions, helped by a falling pound amid cooling Brexit optimism. The lack of progress in a US stimulus package also weighs on the market’s mood, although both negotiations are expected to continue over the next few days.” “Japan published at the beginning of the day, November national inflation, which contracted further, to -0.9% YoY. The Bank of Japan had a monetary policy meeting, and as widely anticipated, the current policy was left unchanged. Even further, Governor Haruhiko Kuroda said that policymakers won’t review the monetary policy objectives.” “USD/JPY has corrected oversold conditions, but its bullish potential is limited. The pair will likely resume its decline on a break below 103.15, the immediate support.” 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 EU Commission: Many issues difficult to solve on fisheries FX Street 2 years USD/JPY is consolidating around 103.50 as the greenback recovers some ground. Nonetheless, the pair is still at risk of falling and could resume the slide on a break below 103.15, FXStreet’s Chief Analyst Valeria Bednarik reports. Key quotes “The American currency is correcting extreme overbought conditions, helped by a falling pound amid cooling Brexit optimism. The lack of progress in a US stimulus package also weighs on the market’s mood, although both negotiations are expected to continue over the next few days.” “Japan published at the beginning of the day, November national inflation, which contracted further, to -0.9% YoY. The… 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.
