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On April 12, local time, US President Trump posted on social media that the US-Iran talks had reached an agreement on "most issues," but failed to reach an agreement on the key issue of "nuclear weapons." Trump said the US had been briefed on the talks, which lasted approximately 20 hours, but Iran "was unwilling to give up its nuclear ambitions." Trump stated that the US would continue to push for negotiations, but was "fully prepared." He reiterated that Iran "will never possess nuclear weapons."The UK Maritime Trade Operations Office: The crew requested the sailboat to stop; when the captain refused, they attempted to tow the small boat alongside the sailboat to board it.April 12 - Crown Prince Khalid of Abu Dhabi, United Arab Emirates, arrived in Beijing on the evening of April 12 to begin a visit to China.On April 12th, Pepperstone strategist Dilin Wu stated that the failure of the US-Iran agreement has firmly established uncertainty. The recent strengthening of the dollar, accompanied by a slight decline in US Treasury yields, is a fairly reasonable pricing outcome. After the initial shock of the news subsides, the reaction of US Treasuries could become more complex. Short-term yields may continue to decline slightly due to safe-haven demand, but if oil prices continue to rise, they will quickly re-anchor to higher inflation expectations, thus putting new upward pressure on long-term yields. Monday is also likely to see the energy and defense sectors outperform the broader market, opening with a significant upward gap. The energy sector is the most direct beneficiary of supply-side contraction, while the defense sector reflects the rising geopolitical risk premium and its more persistent characteristics. However, the magnitude of market volatility will depend on two key factors—the sustainability of the oil price strength and whether the market confirms that this is a sustained supply shock, rather than just a short-term, sentiment-driven reaction.According to the Financial Times, UK financial regulators are conducting an urgent assessment of the risks of Anthropics latest AI model.

USD/JPY Price Analysis: To consolidate as a doji near the YTD highs near 125.70 looms

Larissa Barlow

Apr 13, 2022 10:03

  • Despite its strong association with US Treasury yields, the USD/JPY trades in a range of 125.30 to 70.

  • Forecast for the USD/JPY exchange price: Although the bias remains upward, a doji near the year-to-date highs might pave the way for lower prices.

 

As the Asian Pacific day begins, USD/JPY is practically flat, up 0.05 percent, but still short of the YTD highs near 125.77, as Tuesday's price action formed a doji, implying indecision. The USD/JPY is now trading at 125.48.

 

On Tuesday, the USD/JPY hovered above 125.45 but fell rapidly on the release of mixed US inflation readings, albeit hotter than expected; the numbers were in line with forecasts.

USD/JPY Forecast: Technical Price

The USD/JPY is now trending upward, as indicated by the daily chart. A doji near the YTD highs, on the other hand, may pave the way for a correction down.

 

Meanwhile, the USD/JPY 1-hour chart indicates the pair has established a double top, but the pair may stabilize in the 125.30-77 range after breaking over 125.35.

 

The initial upward resistance for the USD/JPY would be 125.56. A break of the latter would reveal the convergence of the YTD high and the R1 daily pivot point near 125.77-80. Once cleared, 126.00 would be the next line of defense for JPY bulls.

 

On the other hand, the initial level of support for the USD/JPY would be the confluence of the 50-hour simple moving average (SMA) and the daily pivot at 125.28-30. A strong break would pave the way to the S1 daily pivot level of 124.81, followed by the 100-hour SMA level of 124.64.

 

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