In the New York FX market, USD/JPY extended its gains to the high ¥158 range and is testing a break above the 200-day moving average around ¥158.60. No direct catalyst for yen weakness has been identified, and the market is watching events such as the U.S. midterm elections, U.S. employment data and the situation in Iran for their potential impact on market movements.
USD/JPY continued to move higher in today’s New York FX market, rising to the high ¥158 range.
The 200-day moving average was approaching ¥158.60, and the pair was testing a break above that level. Some market participants, however, believe resistance at higher levels remains strong.
No direct catalyst for yen weakness has been identified, and the market is watching for chain reactions among risk factors such as the U.S. midterm elections, U.S. employment data and the situation in Iran.
EUR/USD lacked a clear direction in the high 1.11s and was waiting for the dollar’s next move. EUR/JPY rose to around ¥177.65 and moved above its 21-day moving average.