Beginners

Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Economic Indicator

JPY steady just above broken range low – Scotiabank

Source Fxstreet

The Japanese Yen (JPY) is trading flat against the US Dollar (USD) and attempting stabilization just below the lower end of the (broken) range that had held since early May.

JPY steady amid bond market volatility

"Long end JGB yields have pulled back from their recent highs, however recent price action reveals a considerable amount of concern as we head into this weekend’s upper house elections. The near-term BoJ outlook is neutral, owing to trade policy uncertainty."

"However, the longer-term risks remain tilted to further tightening with a possible rate hike as soon as October. Japan releases trade data at 7:50pm ET and CPI on Thursday (local Friday). For USDJPY, we look to consolidation around current levels and note the importance of the 200 day MA (149.71) as an important level of longer-term resistance."

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Gold price advances to $3,335 area; lacks bullish conviction amid reduced Fed rate cut bets Gold price (XAU/USD) edges higher during the Asian session on Wednesday and reverses a part of the overnight downfall to a multi-day low, though it lacks follow-through buying.

Author FXStreet

10 hours ago

Gold price (XAU/USD) edges higher during the Asian session on Wednesday and reverses a part of the overnight downfall to a multi-day low, though it lacks follow-through buying.

EUR/USD rebounds from 1.1600 despite market caution ahead of US PPI data EUR/USD halts its five-day losing streak, trading around 1.1610 during the Asian hours on Wednesday. The pair appreciates despite the stable US Dollar (USD), driven by traders’ caution ahead of the upcoming US Producer Price Index (PPI) later on Wednesday.

Author FXStreet

10 hours ago

EUR/USD halts its five-day losing streak, trading around 1.1610 during the Asian hours on Wednesday. The pair appreciates despite the stable US Dollar (USD), driven by traders’ caution ahead of the upcoming US Producer Price Index (PPI) later on Wednesday.

XRP Price Eyes Fresh Gains: Traders Bullish After Momentum Spike XRP price started a fresh increase and traded above the $3.00 zone. The price is now correcting gains and might find bids near the $2.840 support zone. XRP price started a fresh increase above the

Author NewsBTC

10 hours ago

XRP price started a fresh increase and traded above the $3.00 zone. The price is now correcting gains and might find bids near the $2.840 support zone. XRP price started a fresh increase above the

Bitcoin Profit-Taking Spikes Without Price Drop – Strong Demand Or Delayed Reaction?Bitcoin’s (BTC) on-chain activity has accelerated over the past few days, with the leading cryptocurrency by market cap hitting successive new all-time highs (ATHs). As a result, several metrics

Author NewsBTC

10 hours ago

Bitcoin’s (BTC) on-chain activity has accelerated over the past few days, with the leading cryptocurrency by market cap hitting successive new all-time highs (ATHs). As a result, several metrics

AUD/JPY sticks to gains above 97.00, close to multi-month high set on Tuesday The AUD/JPY cross attracts fresh buyers during the Asian session on Wednesday and steadily climbs back closer to its highest level since late January touched the previous day.

Author FXStreet

10 hours ago

The AUD/JPY cross attracts fresh buyers during the Asian session on Wednesday and steadily climbs back closer to its highest level since late January touched the previous day.

Related Instrument