28.04.2020 Usd/Jpy Daily Analysis

28.04.2020 Usd/Jpy Daily Analysis

Usd/Jpy today is trading at 107.05, it fell down with 0.17 from 107.22.  The pair is being weighed down by the prevailing cautions mood around the global equity markets, which underpinned the Japanese yen safe-haven demand. The pair is trading low today despite the latest optimism over the easing of coronavirus-related lockdowns globally and a push to accelerate the gradual re-opening of the economies.  The downtick in the US Treasury bond yields also contributed to the pair goişng down today. Today we wait for the release of the Conference Boards US Consumer Confidence Index which might influence the USD price dynamic depending on the outcome. And also President Donald Trump is going to hold a press conference regarding the coronavirus and this will have an impact on the USD and the USD/JPY pair. More so on Wednesday, we wait for the release of the advanced US Q1 GDP report and the latest FOMC monetary policy update which will play a pivotal role in determining the next move of the Usd/Jpy pair.