The USD/JPY pair peaked at 109.19 during the Asian session, now trading in the 108.70 price zone. According to FXStreet’s Chief Analyst Valeria Bednarik, the corrective decline may continue towards 107.70. See – USD/JPY: Levels between 109.00 and 110.00 to be the top for this current rally – MUFG Key quotes “Japan published the Q4 Gross Domestic Product, which resulted at 2.8%, below the expected 3%. Overall Household Spending in January contracted by 6.1%, worse than the -2.1% expected. Finally, February Machine Tool Orders were up 36.7% from 9.7% in January.” “The USD/JPY pair has corrected extreme overbought conditions in the near-term, but its bearish potential is well-limited.” “The slide may continue towards 107.70 on a break below the 108.40 support level.” 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 S&P 500 Index: Lengthy consolidation/corrective phase to unfold – Credit Suisse FX Street 1 year The USD/JPY pair peaked at 109.19 during the Asian session, now trading in the 108.70 price zone. According to FXStreet's Chief Analyst Valeria Bednarik, the corrective decline may continue towards 107.70. See - USD/JPY: Levels between 109.00 and 110.00 to be the top for this current rally - MUFG Key quotes "Japan published the Q4 Gross Domestic Product, which resulted at 2.8%, below the expected 3%. Overall Household Spending in January contracted by 6.1%, worse than the -2.1% expected. Finally, February Machine Tool Orders were up 36.7% from 9.7% in January." "The USD/JPY pair has corrected extreme overbought conditions in… 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.
