The US Dollar turned out to be resilient to the negative data, underperforming only relative to the Yen (-1.04%) and to the New Zealand Dollar (-0.97%).
The US Dollar was not among the main movers yesterday due to a lack of fundamental data, rising 0.58% versus the Euro and at the same time losing 0.71% against the Yen.
After performing poorly on Wednesday the US Dollar outperformed all of its major counterparts, jumping 1.65% versus Sterling and 1.50% versus loonie, even though the fundamentals did not favour the currency.
The US Dollar was the worst performer of Thursday behind the New Zealand Dollar, though we must note the depreciation was minimal, -0.12% versus the Aussie and -0.09% versus the loonie.
Although Tuesday's data revealed the US economy keeps recovering, the market turned out to be somewhat disappointed with the numbers and sold the US Dollar off.
Overall the Japanese Yen preserves the bearish momentum, as it is losing value against the majority of its counterparts.
The Japanese was able to appreciate only relative to the Euro and the Swiss Franc, falling behind the rest of the majors after a series of disappointing news on Thursday.
Regardless of the unfavourable macroeconomic bacground the Japanese Yen was the most bullish currency among the majors.
The Yen was the main loser of Wednesday, falling as much as 0.62% against the Loonie and 0.53% versus USD.
The US Dollar has started this week much better than the last week, as it has gained against the Japanese Yen.
After the bearish performance by the US Dollar at beginning of the week, it managed to recover and it posted gains versus the Japanese peer.
During the last two days USD/JPY has climbed more than 2% and is likely to post a weekly gain, after the weak performance at the beginning of the week.
USD/JPY reversed all this week's losses yesterday, as the Yellen's remarks favored the US currency.
USD/JPY prolonged its decline by falling 1.2% yesterday, as the pair continues its phase of correction.
USD/JPY slipped 0.71% in the first day of the week, as the pair continues its phase of correction.
Even though US Dollar rebounded rather strongly on Friday, it still lost value against the Japanese Yen on a daily basis.
Even though the USD/JPY pair appreciated yesterday and is trying to extend this climb, the pair has still declined on a weekly basis, as it dropped more than 400 pips in the first three days of the week, after reaching the highest level this year at 121.85. However, the pair's retreat was stopped, after the better-than-expected retail sales data in
"The distribution between the buy and sell orders have narrowed; although, the buy ones are still in the lead - 58% and 42% respectively. That could lead to a rebound in price; although, that could be limited by the closest resistance that is located at 119.05 (weekly S1). At the same time, if the selling pressure continue to increase a
"The distribution between the buy and sell orders have widened substantially and they are at 77% and 23% respectively. That could lead to a rebound in price; although, that could be limited by the closest resistance that is located at 120.37 (weekly PP). At the same time, if the selling pressure continue to increase a decline could be limited by
"The distribution between the buy and sell orders have narrowed and they are at 56% and 44% respectively. Most likely that the pair will not change in value dramatically; although, the closest resistance for it is located at 120.93 (monthly R1). At the same time, if the selling pressure continue to increase a decline could be limited by the closest
"The distribution between the buy and sell orders have narrowed and they are at 54% and 46% respectively. Most likely that the pair will not change in value dramatically; although, the closest resistance for it is located at 122.88 (weekly R1). At the same time, if the selling pressure increases a decline could be limited by the closest support that
"The distribution between the buy and sell orders has widened considerably as they are at 36% and 64% respectively. Most likely that the pair will not change in value dramatically; although, the closest resistance for it is located at 120.77 (weekly R3). At the same time, if the selling pressure increases a decline could be limited by the closest support
"The distribution between the buy and sell orders is very stable—48% and 52% respectively. Most likely that the pair will not change in value dramatically; although, the closest resistance for it is located at 120.77 (weekly R3). At the same time, if the selling pressure increases a decline could be limited by the closest support that is placed at 119.77
"The distribution between the buy and sell orders is quite stable—44% and 56% respectively. Most likely that the pair will not change in value dramatically; although, the closest resistance for it is located at 119.77 (weekly R2). At the same time, if the selling pressure increases a decline could be limited by the closest support that is placed at 119.23/11