USD/JPY: Bearish trend to gain momentum on a break below 104.40
|The greenback extends its decline this Tuesday, with USD/JPY trading near a daily low of 104.53. Critical near-term support is seen at 104.40, Valeria Bednarik, Chief Analyst at FXStreet, reports.
Key quotes
“US Treasury yields lead the pair, retreating further from Monday’s peaks. Adding pressure, European indexes trade in the red, dragging US futures lower.”
“The decline has paused but could resume on a break below 104.40, the next Fibonacci support level.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.