The post Tumbles below 156.00 as US economy slows down appeared on BitcoinEthereumNews.com. USD/JPY makes a U-turn and tumbles over 0.54% on Tuesday as investors grew confident that the Federal Reserve will cut rates at the December meeting, following a soft US inflation report, along with weaker than expected Retail Sales. At the time of writing the pair trades at 155.98, below the 156.00 figure for the first time in four days. USD/JPY Price Forecast: Technical outlook The USD/JPY is upwardly biased, but as of writing is texting previous resistance turned support, the February 10 high at 155.88. Nevertheless, the pair continues to print successive series of higher highs, higher lows an indication that bulls are in charge. Additionally, the Relative Strength Index (RSI) although edging lower it remains at positive territory. In the short-term, if USDJPY tumbles below 155.50, this clears the path to test the 155.00 mark, followed by the 154.00 figure and the November 14 daily low of 153.62. If surpassed, the next stop would be the 50-day SMA at 152.02. On the flip side, if USD/JPY clears 156.00, the next resistance will be the November’s high at 157.89, ahead of the yeatly peak of 158.88. USD/JPY Price Chart – Daily USD/JPY daily chart Japanese Yen Price This week The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies this week. Japanese Yen was the strongest against the US Dollar. USD EUR GBP JPY CAD AUD NZD CHF USD -0.46% -0.53% -0.36% -0.02% -0.13% -0.16% -0.15% EUR 0.46% -0.07% 0.11% 0.44% 0.32% 0.36% 0.32% GBP 0.53% 0.07% 0.16% 0.52% 0.39% 0.42% 0.39% JPY 0.36% -0.11% -0.16% 0.34% 0.15% 0.07% 0.19% CAD 0.02% -0.44% -0.52% -0.34% -0.12% -0.12% -0.13% AUD 0.13% -0.32% -0.39% -0.15% 0.12% 0.00% 0.02% NZD 0.16% -0.36% -0.42% -0.07% 0.12% -0.01% -0.00% CHF 0.15% -0.32% -0.39% -0.19% 0.13% -0.02% 0.00% The heat map… The post Tumbles below 156.00 as US economy slows down appeared on BitcoinEthereumNews.com. USD/JPY makes a U-turn and tumbles over 0.54% on Tuesday as investors grew confident that the Federal Reserve will cut rates at the December meeting, following a soft US inflation report, along with weaker than expected Retail Sales. At the time of writing the pair trades at 155.98, below the 156.00 figure for the first time in four days. USD/JPY Price Forecast: Technical outlook The USD/JPY is upwardly biased, but as of writing is texting previous resistance turned support, the February 10 high at 155.88. Nevertheless, the pair continues to print successive series of higher highs, higher lows an indication that bulls are in charge. Additionally, the Relative Strength Index (RSI) although edging lower it remains at positive territory. In the short-term, if USDJPY tumbles below 155.50, this clears the path to test the 155.00 mark, followed by the 154.00 figure and the November 14 daily low of 153.62. If surpassed, the next stop would be the 50-day SMA at 152.02. On the flip side, if USD/JPY clears 156.00, the next resistance will be the November’s high at 157.89, ahead of the yeatly peak of 158.88. USD/JPY Price Chart – Daily USD/JPY daily chart Japanese Yen Price This week The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies this week. Japanese Yen was the strongest against the US Dollar. USD EUR GBP JPY CAD AUD NZD CHF USD -0.46% -0.53% -0.36% -0.02% -0.13% -0.16% -0.15% EUR 0.46% -0.07% 0.11% 0.44% 0.32% 0.36% 0.32% GBP 0.53% 0.07% 0.16% 0.52% 0.39% 0.42% 0.39% JPY 0.36% -0.11% -0.16% 0.34% 0.15% 0.07% 0.19% CAD 0.02% -0.44% -0.52% -0.34% -0.12% -0.12% -0.13% AUD 0.13% -0.32% -0.39% -0.15% 0.12% 0.00% 0.02% NZD 0.16% -0.36% -0.42% -0.07% 0.12% -0.01% -0.00% CHF 0.15% -0.32% -0.39% -0.19% 0.13% -0.02% 0.00% The heat map…

                                                                               Wormhole’s native token has had a tough time since launch, debuting at $1.66 before dropping significantly despite the general crypto market’s bull cycle.                     Wormhole, an interoperability protocol facilitating asset transfers between blockchains, announced updated tokenomics to its native Wormhole (W) token, including a token reserve and more yield for stakers. The changes could affect the protocol’s governance, as staked Wormhole tokens allocate voting power to delegates.According to a Wednesday announcement, three main changes are coming to the Wormhole token: a W reserve funded with protocol fees and revenue, a 4% base yield for staking with higher rewards for active ecosystem participants, and a change from bulk unlocks to biweekly unlocks.“The goal of Wormhole Contributors is to significantly expand the asset transfer and messaging volume that Wormhole facilitates over the next 1-2 years,” the protocol said. According to Wormhole, more tokens will be locked as adoption takes place and revenue filters back to the company.Read more