USD/JPY is trading around 107 the figure within a 20 pips range of between 106.99 and 107.18 following a risk-off session overnight and the pair fell from 107.70 to 107.00.
USD/JPY was following US stock performances on Wall Street whereby investors ran for the exits, pulling into Treasuries on trade talk concerns following Trump’s UN speech, as well as poor economic data and fresh impeachment noise as news hot the circuits that US House leadership was planning impeachment proceedings against Trump which was publically confirmed by the time of the Wall Street close – The DJIA lost a total 141.81 points, or 0.5%, to end at 26,806.18 while the benchmark S&P 500 index dropped 25.16 points, or 0.8%, at 2,966.62. The Nasdaq Composite index fell back 118.84 points, or 1.5%, to 7,993.63.
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Poor US data sinks risk appetite:
Poor US consumer confidence dropped to 125.1 vs the estimated 133.0 and prior that was revised to 134.2. “Although the pullbacks were below expectations, the levels still remain at relatively high post-crisis levels,” analysts at Westpac argued.
USD/JYP SHORT (Sell)
ENTER AT: 107.360