Japanese yen

USD/JPY rallied nearly 6.3% off the yearly low with the advance faltering this week at the yearly downtrend. Battle lines drawn on the short-term technical charts.

Japanese Yen is on the defensive as a four-week rally in USD/JPY struggles at technical resistance. Battle lines drawn on the USD/JPY weekly chart.

Both USD and USD/JPY have started off the week with significant strength and the question now is whether bulls can continue driving reversals amidst a heavy week of data.

Optimism of US-China trade talks and an announcement of stimulus from Beijing weighed on the Japanese yen in early Asian trade, with AUD/JPY taking the best advantage of the situation. And that provides a strong clue to the potential outperformer, should US -China trade talks end well.

Today, the Japanese yen appreciated by nearly 1% against the U.S. dollar, introducing a notable bearish bias in the current movements of the USD/JPY pair.

The BoJ held rates at 0.5% as expected, but trade risks cloud the outlook. USD/JPY and GBP/JPY rally, with bulls eyeing 145 and 193 respectively.

USD/JPY rallied nearly 3% off the yearly low with price coiling just below resistance ahead of major event risk. Battle lines drawn on the short-term technical charts.

Japanese Yen is on the defensive as the USD/JPY bulls attempts to snap a three-week losing streak. Battle lines drawn on the USD/JPY weekly technical chart.

USD/JPY tested a major level earlier this week but, so far, it’s held as support. EUR/JPY and GBP/JPY present compelling backdrops on each side of the Japanese Yen.

USD/JPY became a source of equity selling last summer as the carry trade unwound aggressively.

Despite the sharp declines seen in USD/JPY in recent sessions, a recovery of nearly 1% has been observed, favoring the U.S. dollar.