USDJPY:Persistent Risk Aversion

2019-12-04 15:18:21

Risk aversion maintained the Japanese yen strong On Tuesday, with the USD/JPY pair falling to 108.47, its lowest in over a week. More downside pressure on the pair while we wait to see a breakout at support @108.260 if not price is ready to go up to our resistance level of 109.729.....

The market ran for safety following comments from US President Trump, menacing France with tariffs and later saying that he likes the idea of “waiting until after the election for the China deal, but they want to make a deal now and we will see whether or not the deal is going to be right.”

Most Asian and European indexes closed in the red, while Wall Street extended its decline with the DJIA down over 300 points for Tuesday. Meanwhile, the yield on benchmark 10-year Treasury note fell to 1.69% after topping at 1.85%, settling around the mentioned low.

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