USD/JPY Price Analysis: edges high but remains short of 124.00 post-Fed minutes By christianborjon USDJPY Majors Technical Analysis
The USD/JPY remained positive in the week, up 1.11%, amidst a risk-off sentiment and underpinned by the US 10-year yield.
US equities remain trading in the red, with losses between 0.89% and 2.66%. Meanwhile, the greenback remains buoyant, as shown by the, a measure of the buck’s value vs. its peers, up 0.25%, sitting at 99.742, underpinned by the 10-year US Treasury yield up to six basis points, currently at 2.622%. Breaking: FOMC minutes say participants judged it appropriate to move policy towards neutral expeditiouslyThe USD/JPY is upward biased. The daily moving averages reside well below the spot price and confirm the bias. However, the Relative Strength Index at 74.65 is well within the overbought area, suggesting that caution is warranted.
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