The US dollar is under pressure as the market’s mood turned upbeat. The USD/JPY pair eased within range and trades around 105.35 as demand for safe-haven assets is limited. Bears could take over on a break below 105.00, FXStreet’s Chief Analyst Valeria Bednarik reports.
More – USD/JPY: Resistance at 105.82/92 to cap further strength – Credit Suisse
Key quotes
“Equities trade firmly in the green ever since the day started, amid hopes for a US coronavirus aid package. European indexes got an additional boost from headlines suggesting the EU and the UK are advancing towards a trade deal.”
“The USD/JPY pair is trading in its latest comfort zone, neutral according to intraday technical readings. The 4-hour chart shows that the pair is developing just below a still bullish 20 SMA, while the larger ones maintain their mildly bearish slopes above the shorter one. Technical indicators, in the meantime, are directionless around their midlines.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks

USD/JPY remains close to two-week high ahead of BoJ-Fed policy decisions
USD/JPY attracts fresh buyers during the Asian session on Wednesday and stalls the overnight modest pullback from the vicinity of the 150.00 mark or a two-week high. The upside, however, seems limited amid the divergent BoJ-Fed expectations. Hence, the focus will remain on the crucial BoJ policy decision and the outcome of a two-day FOMC meeting later today.

AUD/USD holds steady above mid-0.6300s, FOMC decision awaited
AUD/USD consolidates below a three-week high touched on Tuesday as traders opt to move to the sidelines ahead of the crucial Fed policy decision. The USD languishes near a five-month low amid bets that the Fed will cut rates several times this year, which, along with the optimism over China's stimulus measures, could act as a tailwind for the pair.

Gold price sits near all-time peak, looks to Fed for fresh impetus
Gold price remains close to the record high touched on Tuesday as rising Middle East tensions and the uncertainty over Trump's trade policies continue to underpin the safe-haven bullion. Bulls, however, take a pause for a breather amid slightly overbought conditions and ahead of the crucial Fed policy decision.

Bank of Japan set to hold interest rates unchanged in March
The Bank of Japan is on track to keep the short-term interest rate steady at 0.50% following its two-day March monetary policy review on Wednesday. Any signals on the timing and the scope of future rate hikes by the BoJ will likely infuse intense volatility around the Japanese Yen.

Tariff wars are stories that usually end badly
In a 1933 article on national self-sufficiency1, British economist John Maynard Keynes advised “those who seek to disembarrass a country from its entanglements” to be “very slow and wary” and illustrated his point with the following image: “It should not be a matter of tearing up roots but of slowly training a plant to grow in a different direction”.

The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.