USD/JPY finds support near 108.60




After falling to the area of 108.60, the pair USD/JPY is now attempting a rebound in the area of 108.80/85 after the data from the USA.

The pair has dropped for the third session consecutively to date, registering low levels last seen in mid-April around 108.60 after the poor performance of yields in the money markets of the united States.

In fact, the benchmark yield of 10-year has plummeted quickly to a minimum of several weeks near the level of 2.16% in the previous session, losing around 12pb from the maximum weekly a little more from 2.28 per cent on Wednesday.

In the space of data, the us consumer confidence tracked by the index, Reuters/Michigan is expected to improve to 97.6 in August, surpassing the previous surveys and adding a degree of containment to the decrease of the pair. Later, american politics, trends in risk and the headlines of the american newspapers are kept with the same feeling of the last week.

Levels of USD/JPY

At this moment the pair is losing 0.73% to 108.78 and a breakdown of 108,60 (minimum of 18 August) would have the objective of 10811 (at least April 17) and, finally, 102.54 (minimum of 3 of November of 2016). On the positive side, the obstacle immediately emerges 109.86 (SMA of 10 days) followed by 110.10 (23.6% Fibo of 114.51-108.73) and then 110.38 (SMA 21 days).



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