【英文原文】
The dollar has managed to regain its footing as higher U.S. yields and declining commodity prices have been sources of support. The USD/JPY is at its highest level in a month as yen weakness has also contributed to the pair’s rise. Speculation that China is aggressively selling Japanese bonds is adding to the Asian currency’s troubles. However, risk appetite has faded as markets start to focus on the repercussions of Fed QE which favor the yen. Also adding to a gloomier picture is renewed concern over European sovereign debt as Irish yields continue to push higher. The pair is up against a five month descending trend line which is being reinforced by the 50-Day SMA at 82.89. Failure at the upper channel bound would inspire a cautious bearish position.

【參考譯文】
隨著美債收益率上揚(yáng)及商品價格下跌，美元重新走強(qiáng)。此外受日元疲軟提振，美元/日元創(chuàng)下月內(nèi)新高。中國或?qū)⒋笈e拋售日本國債的推測加重了日元的頹勢，也為美元/日元上漲注入了動力。然而，美聯(lián)儲的量化寬松政策雖對日元有利，其負(fù)效應(yīng)日益凸顯，造成市場風(fēng)險偏好降溫;愛爾蘭國債收益率持續(xù)走高，重燃投資者對歐洲主權(quán)債務(wù)問題的擔(dān)憂，給外匯市場再添陰云。美元/日元的短線上揚(yáng)依然難敵5個月的整體下行趨勢，這一趨勢在50天的SMA值達(dá)到82.89時得到加強(qiáng)。如果美元/日元的區(qū)間上限無法扭轉(zhuǎn)頹勢，后市必將謹(jǐn)慎看跌。