26 Mar 2015
USD/JPY rebounds from 1-month lows
FXStreet (Córdoba) - USD/JPY rebounded after reaching at 118.31, the lowest level in a month. The pair rose to 118.75 and currently trades at 118.65/70, down more than 70 pips for the day so far.
Despite the recovery, the pair still holds a strong bearish bias in the short term as it holds below 119.00; a key support area that capped the downside yesterday.
The Japanese currency is the best performer on Thursday among majors boosted by risk aversion. The yen rallied after Saudi Arabia and its allies started bombing targets in Yemen. Stocks in Europe are falling more than 1% while US stock futures are down 0.75% on average.
Despite the recovery, the pair still holds a strong bearish bias in the short term as it holds below 119.00; a key support area that capped the downside yesterday.
The Japanese currency is the best performer on Thursday among majors boosted by risk aversion. The yen rallied after Saudi Arabia and its allies started bombing targets in Yemen. Stocks in Europe are falling more than 1% while US stock futures are down 0.75% on average.