others
USD/JPY jumps above 137.50 as the US Dollar strengthens – Crypto News
- The US Dollar gains momentum while Wall Street tumbles.
- Japanese yen fails to benefit from risk aversion.
- USD/JPY likely to challenge key resistance around 138.00.
The US Dollar strengthened across the board during the American session, the day after the FOMC meeting and following weaker-than-expected US economic data, The USD/JPP jumped above 137.50, towards the weekly high, despite amid risk aversion.
Wall Street tumbles, the world raises rates
The Japanese yen is among the weakest currencies of the US session as yields rise sharply in Europe and as Treasuries remain steady. In Wall Street, the Dow Jones is falling by 1.95% and the Nasdaq drops more than 2%.
risk aversion is not helping the yen so far on Thursday as central banks around the world continue to hike interest rates; the exception is the Bank of Japan.
In the US, economic data released on Thursday came in mixed, offering some divergence. Retail sales fell more than expected and so did industrial production in November, while initial jobless claims fell to 211K, the lowest level in eleven weeks.
Looking again at the 138.00 zone
The rally in USD/JPY Sent the price near the weekly took it reached on Monday around the 138.00 zone. The pair peaked at 137.60 and is trading just a few pips below the 20-day Simple Moving Average (currently at 137.85). A consolidation above 138.00 should open the doors to more gains.
A failure to break the 138.00 zone would keep the current range 138.00/135.00 (20 and 200-day SMAs) intact. A close below 135.00 would point to more losses.
technical levels
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