USD / JPY reached a new low today at a price of 105.922, passing briefly below 106 and 50 - the 4-hour period. Since then, the price has slightly pulled up in an attempt to "rescue" bears, but the lack of stable risk sentiment can overcome the bulls.
The yen has grown quite well over the course of the European session amid a fall in bonds and demonstrated investor prudence. Yields on 10-year US bonds are down 2 points to 1.474% and US futures are moving in both directions, but remain broadly depressed.
This also puts the USD / JPY pot under pressure, threatening the course to break the 50-period 105.833 attack period. In the short term, the bears will gain control over the price, with market participants watching for further confirmation that the movement will continue below 105.
However, market players are starting to lose their optimism about China and the US. There is still no date for a meeting that could potentially be canceled.
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