A look at what is on the board for today
A couple of key ones to take note of, as highlighted in bold.
Once again, the two pairs to watch are EUR/USD and USD/JPY. For the former, there are large expiries sandwiching price action currently so that may limit any outsized movements on the day with the 200-day moving average @ 1.1882 also in focus.
As for the latter, the pair continues to flirt with a drop below 110.00 but sellers are finding it tough to chase further downside momentum - hovering between 109.60 to 109.90 - with Treasury yields also little changed yesterday.
The 50.0 retracement level @ 109.69 only adds to some support for buyers in the meantime with the expiries noted above providing some additional layer perhaps.
That said, a lot still rides on sentiment in the Treasuries market for the dollar and yen.
For more information on how to use this data, you may refer to this post here.
