USD/JPY Dips From 115.0 as Investors Buy JPY Instead of USD

Updated:

USD versus JPY experienced selling forces from 115.0 during the early Asian session. It looks like the pair  kept falling yesterday. The pair was buffeted by downward forces yesterday, as traders gave support to JPY (Japanese yen) instead of USD (American Dollar) following the growing tension between Ukraine and Russia.

The Headlines and Their Effects on Market Sentiments
Growing geopolitical anxiety due to Ukraine and Russia’s struggle has increased the request for less risky properties to avert risk. Traders are worried about the unknowns of Russia and Ukraine anxieties and they are relying on the defensive to fight the uncertainty.

At the same time, the USD index is being sold and bought in a ceiled region between 95.7-98.9 on a poor performance. The US International Joint Commission stays at 248,000, higher than the market predictions as the last release has moderately taper the probable hawkish position from the Fed during next month’s MPC gathering.

News from the present tussle between Ukraine and Russia is likely to keep USD versus JPY pair lively as traders will continue changing their positions in response to every new development. In addition, the statistic Bureau of Japan will recount the annual CPI(consumer price index), and this will probably brush 0.6 percent and is lower than the last release of 0.8 percent

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.