On Friday, the USD\/JPY retreats at around 115.80 to weekly lows, negating the chart pattern late in the New York session. At 114.85, the USD\/JPY reflects the risk-off market mood due to increasing tensions on the Russia-Ukraine conflict.
Global equity indexes recorded losses on a busy day on Friday. The USD would finish the week with gains, up 0.88%, sitting at 98.583. Meanwhile, US Treasury yields drop to 1.726%, a loss of eleven basis points, a headwind for the USD\/JPY pair.
During the overnight session, for North American traders, the USD\/JPY was seesawing around the 115.25-115-55 range, but as American traders got to their desks, it plummeted towards high 114.60s.
The USD\/JPY is upward biased, as depicted by the daily moving averages (DMAs) residing below the spot price, except for the 50-DMA. USD\/JPY failure to clear the neckline exerted downward pressure on the pair, but the trend stalled around previous lows that formed the double-bottom. That said, a triple-bottom chart pattern looms
The USD\/JPY first resistance level would be the neckline around 115.78. Breach of the latter would expose 116.00, followed by the YTD high at 116.35, and the triple-bottoms target at 117.48.<\/p>\n","protected":false},"excerpt":{"rendered":"
On Friday, the USD\/JPY retreats at around 115.80 to weekly lows, negating the chart pattern late in the New York session. At 114.85, the USD\/JPY reflects the risk-off market mood due to increasing tensions on the Russia-Ukraine conflict.Global equity indexes recorded losses on a busy day on Friday. The USD would finish the week with …<\/p>\n","protected":false},"author":13,"featured_media":61460,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[37,36],"tags":[9065,9064,9014,7201],"class_list":["post-61456","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-global-equity-indexes","tag-risk-off-2","tag-russo-ukraine-conflict","tag-usd-jpy"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/61456","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=61456"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/61456\/revisions"}],"predecessor-version":[{"id":61461,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/61456\/revisions\/61461"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/61460"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=61456"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=61456"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=61456"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}