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USD/JPY Forecast: Increased bearish potential, critical support at 104.95


2/21/2021 2:37:26 PM GMT
USD/JPY Current price: 105.46
Japan’s National inflation remained subdued in January at -0.6% YoY.
Speculative interest sold the greenback despite higher US Treasury yields.
USD/JPY is at risk of falling further, immediate support at 105.30.
The USD/JPY pair fell on Friday for a third consecutive day, trimming half of its weekly gains. The dollar’s broad weakness was behind the slump, with speculative interest ignoring US Treasury yields rallying to one-year highs. Meanwhile, equities traded with a mixed tone. The DJIA held near record highs, but the S&P edged lower.
Japan published the January National inflation, which came in at -0.6% YoY, while the core reading also printed at -0.6%, better than expected. The country released the Jibun Bank Manufacturing PMI, which improved in February to 50.6, according to preliminary estimates. Japan will publish this Monday the January Corporate Service Price Index, foreseen at -1.1%, dow ....

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