18.03 - USD/JPY on trend towards lows around 107.00 mark
- by George Solotarov
USD/JPY met with some fresh supply and eroded a part of the overnight strong gains. Reviving safe-haven demand, a modest USD pullback contributed to the weaker tone. Some follow-through uptick in the US bond yields might help limit losses, at least for now.
The pair failed to capitalize on the previous day's strong intraday positive move of over 200 pips and met with some fresh supply during the Asian session on Wednesday amid reviving demand for traditional safe-haven assets.