ANALYSIS
NQ100 Finds Support from PPIApr 14
USDJPY took control of the losses
There was a sharp decline in the pair as a result of the reaction in the treasury yields, which declined aggressively in the debt market, to the safe haven assets, on the expectations that the Federal Open Market Committee (FOMC) would start interest rate hikes later than expected. However, as of the new week, we observe that the pair is trying to recover its losses by holding onto the ascending trendline with the effect of the recovery in dollar. If 113.85 resistance is broken with upward movements, 114.70 level will be our target above 114.25. In a possible transition below the trendline, 113.00 and 112.65 supports can be followed.
