USD/JPY is trading around 104.00, also around the 23.6% retracement of its January advance, as a better market mood helped the pair to recover some ground. USD/JPY is technically neutral and needs to advance past 104.40 to gain further traction, FXStreet’s Chief Analyst Valeria Bednarik briefs. Key quotes “The market’s mood is in better shape this Tuesday, weighing on safe-haven dollar and yen. The sentiment was boosted by comments from former Fed’s chair Janet Yellen, who has been nominated by Joe Biden as Treasury Secretary. Yellen is meant to speak in front of the Senate Finance Committee. Her prepared remarks are already out, showing that she believes that is time to ‘act big,’ spend now and worry about deficits later.” “In the 4-hour chart, the USD/JPY pair has advanced above all of its moving averages, which anyway remain directionless. Technical indicators recovered to above their midlines but quickly lost directional strength, indicating limited buying interest.” “A long-term descendant trend line offers resistance in the 104.30 area, while the monthly high has been set at 104.39.” 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 GBP/USD: Yellen can trigger the big break above 1.37 FX Street 2 years USD/JPY is trading around 104.00, also around the 23.6% retracement of its January advance, as a better market mood helped the pair to recover some ground. USD/JPY is technically neutral and needs to advance past 104.40 to gain further traction, FXStreet’s Chief Analyst Valeria Bednarik briefs. Key quotes “The market’s mood is in better shape this Tuesday, weighing on safe-haven dollar and yen. The sentiment was boosted by comments from former Fed’s chair Janet Yellen, who has been nominated by Joe Biden as Treasury Secretary. Yellen is meant to speak in front of the Senate Finance Committee. Her prepared remarks… 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.
