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Forex pairs in this Article » USD/JPY (New York) - The USD/JPY foreign exchange rate has instigated a minor recovery Wednesday, with the markets gripped in risk appetite during US trading.

USD/JPY trading at support

In these moments, the USD/JPY technical pair is still down -0.84%, navigating the region of 99.78 during US trading. analysts postulate the next supports at 99.84, ahead of 99.02, and 98.52.

USD/JPY could turn lower in coming days

According to the TD Securities Team, “The JPY is the G10 outperformer and the USD/JPY could also be heading for an outside range day that would foretell a turn toward lower levels in the days ahead. Considering the large spec net short position out there at the moment, the JPY may be at risk of a short squeeze.”
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