USD/JPY Weekly Forecast: Admiring the Fed s juggling act fxstreet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fxstreet.com Daily Mail and Mail on Sunday newspapers.
Apr 20, 2021 02:51 GMTFXStreet News
GBP/JPY bounces off intraday low, trims mild losses from two-week top.
Risks benefit from economic recovery hopes, Biden’s readiness to aler spending plan.
Chatters surrounding China, Russia and covid strains test the bulls.
Japan’s Tertiary Index for February, UK employment for March becomes the key.
GBP/JPY picks up bids near 151.20, down 0.06% intraday, as markets in Tokyo open for Tuesday’s trading. The pair earlier pulled back from two-week tops before bouncing off 151.08 the latest. It’s worth mentioning that the market optimism backed the quote during the previous two days.
While chatters surrounding the BOJ’s readiness to alter inflation targets in the upcoming meet favor JPY sellers, amid hopes of further stimulus, headlines from the US Senate become the key. US President Joe Biden finally realized the fears looming over his $2.25 trillion bill and stepped back to compromise on certain key issues like taxes.
USD/JPY Weekly Forecast: There is no hiding from bond yields fxstreet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fxstreet.com Daily Mail and Mail on Sunday newspapers.
2/12/2021 3:40:21 PM GMT
USD/JPY retreats below 105, finds support at 104.55, recovers.
Chairman Powell: The US labor market remains weak.
Chairman Powell: Fed has no plans for rate increases or bond program reductions.
US Treasury rates move higher after Wednesday low.
FXStreet Forecast Poll sees no immediate increase in USD/JPY.
The USD/JPY reneged on its breakout promise this week dropping below 105 on Tuesday but support at 104.55 held on Thursday. The descending channel is increasingly distant and a declining a draw with the upper border below 103. Movement in the pair is tied to improvement in the US economy and Treasury rates.