Japanese yen (JPY) bears the burden of the US Treasury yields, as well as the coronavirus (COVID-19) conditions at home. The US 10-year Treasury yield snapped a five-week downtrend by Friday’s end as the Fed policymakers keep rejecting the reflation fears despite upbeat data.
The pair has just reached another strong support area and I expect price to retest and bounce off this zone.
The pair has just reached another strong support area and I expect price to retest and bounce off this zone.