USD/JPY continues to trade with great bias with the continued smoothness of the wide dollar. The pair was the last time at 140.34 levels, FX analysts from OcBC Frances Cheung and Christopher Wong Note.
The bias remains deviant to the negative side
“The most important commercial negotiator, Akazawa, said that there was no discussion about FX during the commercial talks last week, but discussing the currency between US Treasury Secretary Bessin and Kato Finance Minister may still be possible this week when they meet (most likely 23/24 April).
Keep in mind that the Kato Finance Minister had previously said that JPY will not be tolerated when the nation needs to hold commercial talks with the United States. The bias remains short against the US dollar at the Kato-Bessant meeting later this week.
“Daily momentum is declining while the relative strength index decreased in excessive sale conditions. The bias remains deviant to the negative side. Support at the level of 140 and 139.60. Resistance at 141.60, 144.10 levels.”
