USD/JPY softens as Middle East de-escalation hopes weigh on USD ahead of key US data
The pair hit a correction towards the target and support of 157.25-65 and managed to rebound again. The market is still holding a trading zone with resistances around 160.20 and 161.95 where each resistance could push for drop a toward the 157.25-65 zone.
USD/JPY Price Forecast: Corrects further below 20-day EMA as Iran conflicts de-escalate
USD/JPY slides below 159.00 as Iran peace hopes weigh on the US Dollar
Disappointing job market data and falling Treasury yields put pressure on the American currency.
USD/JPY slips as Yen gains on intervention threats and BoJ's hawkish tone
As the week progresses, USDJPY price action has started to show a notable decline in the short term, with the pair falling by approximately 0.7%, beginning to form a mild bearish bias on the chart. The selling pressure favoring the yen has been driven mainly by recent comments from the Bank of Japan, which have helped stabilize demand for the currency in the short term.
EUR/USD is edging higher, snapping a five-day losing streak, helped by a softer US dollar following reports that President Trump may be open to ending the Iran conflict without first requiring the reopening of the Strait of Hormuz. The pair is also trading cautiously ahead of a busy session on the economic calendar.
USD/JPY edges down to near 159.60 amid Middle East peace hopes
The pair hit a correction towards the target and support of 157.25-65 and managed to rebound again. The market is still holding a trading zone with resistances around 160.20 and 161.95 where each resistance could push for drop a toward the 157.25-65 zone.
USD/JPY Price Forecast: Bulls struggle below 160.00 amid intervention fears, softer USD
Japanese Yen drifts lower as soft Tokyo CPI dents BoJ rate hike bets; USD/JPY eyes 160.00