USD declines below the handle versus JPY
2/28/2017 2:17:25 PM
The USD/JPY pair came under some new selling pressure and trading around 112.37 band, a fresh wave of downslide in the US Treasury bond yields, causing the dollar decline across the board, could be a key factor driving the pair's latest leg of downslide.
A follow through retracement below could get expanded towards 112.03 handle, below which the pair is probable to goal towards Feb. monthly lows support near 111.64 horizontal zone ahead of 110.90-111.05 support area. On the other hand, momentum above 112.77 level now appears to improve the pair beyond 113.03 handle towards its next persistence near 113.27 area.
FOREX market analysis by FxErvin.