Mid-Week Technical Outlook: Yen Crosses Under The Spotlight

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Market sentiment improved on Wednesday with global equities rebounding as easing concerns about the Omicron variant rekindled risk appetite. 

 

There was some action in the currency space amid the sense of positivity, resulting in dollar weakness against G10 majors. One currency that caught our attention was the Japanese Yen which held its ground despite investors turning to riskier assets. With the OPEC+ meeting around the corner and the US jobs report on Friday, it may be wise to keep a close eye on the Yen this week.

 

USDJPY: Wobbles above 112.80

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