Tokyo FX: Dollar-yen pares gains, struggles below ¥158.40 (FISCO)

The story

In the Tokyo market on the morning of the 21st, USD/JPY struggled to rise, supported by dollar buying as risk appetite eased against a backdrop of higher Japanese and U.S. stock prices.

After briefly reaching ¥158.40 and attempting to move higher again, the pair stalled and is currently trading in the ¥158.30 range. The decline in U.S. long-term yields is believed to be capping gains.

Today's trading ranges were ¥158.12 to ¥158.40 for USD/JPY, ¥176.56 to ¥177.83 for EUR/JPY, and 1.1224 to 1.1237 for EUR/USD.

At a glance

Trading rangeUSD/JPY traded in the ¥158.12–¥158.40 range

High¥158.40 was the day's high

EUR/JPYEUR/JPY traded in the ¥176.56–¥177.83 range

Euro-dollarEUR/USD traded in the 1.1224–1.1237 range

BackgroundThe decline in U.S. long-term yields is capping gains

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