USD/JPY seesawed between tepid gains/minor losses through the early North American session. Some aggressive USD long-unwinding trade prompted some intraday selling around the major. The prevalent risk-on mood undermined the safe-haven JPY and helped limit any deeper losses. The USD/JPY pair had some good two-way price moves on Monday and now seems to have stabilized in the neutral territory, around mid-105.00s. Following an early uptick over one-week tops set on Friday, around the 105.70 region, the pair witnessed a modest intraday pullback amid some aggressive US dollar long-unwinding trade. The USD bulls opted to lighten their bets amid concerns that the lack of additional fiscal stimulus measures could halt the current US economic recovery. Adding to this, the political uncertainty in the run-up to the US Presidential election in November further took its toll on the greenback and exerted some pressure on the USD/JPY pair. However, a strong rally in the equity markets undermined demand for the safe-haven Japanese yen and helped limit any deeper losses, at least for now. The USD/JPY pair once again attracted some dip-buying near the 105.25-20 region, though lacked any strong follow-through amid absent relevant market moving economic releases. This makes it prudent to wait for some strong follow-through buying before positioning for an extension of the recent recovery move from the 104.00 mark, or over six-month lows. Moving ahead, market participants will now look forward to the first presidential debate on Tuesday. This, along with important US macro data, including the closely watched US monthly jobs report (NFP), will play a key role in influencing the near-term USD price dynamics and assist investors to determine the next leg of a directional move for the USD/JPY pair. Technical levels to watch 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 Investors prefer US equities over European equities – Natixis FX Street 2 years USD/JPY seesawed between tepid gains/minor losses through the early North American session. Some aggressive USD long-unwinding trade prompted some intraday selling around the major. The prevalent risk-on mood undermined the safe-haven JPY and helped limit any deeper losses. The USD/JPY pair had some good two-way price moves on Monday and now seems to have stabilized in the neutral territory, around mid-105.00s. Following an early uptick over one-week tops set on Friday, around the 105.70 region, the pair witnessed a modest intraday pullback amid some aggressive US dollar long-unwinding trade. The USD bulls opted to lighten their bets amid concerns that… 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.
