USD/JPY: risk sentiment maintains the yen up
|USD/JPY Current price: 113.26
- Hopes of a US-China deal faded overnight, backing the JPY.
- US Treasury yields steady around Thursday's closing levels, equities pulling down from highs.
Market's mood is just a bit more stable this Friday, although UK political jitters keep leading the way, therefore maintaining the safe-haven yen in the winning side. The USD/JPY pair trades around 113.30, near the weekly low of 103.09 reached Thursday. There were some market talks suggesting progress in US-China trade talks, which helped the pair to bounce up to 113.70 but fading hopes about a deal been achieved soon weighed it back down.
Equities were mixed in Asia with no fireworks, while European ones trade in positive ground, pulling down from daily highs. US Treasury yields, meanwhile, trade little changed from Thursday's close, with the benchmark yield for the 10-year Treasury note at 3.12%. In the macroeconomic front, the US has some minor data scheduled for today, Industrial Production and Capacity Utilization changes for October.
Meanwhile, the 4 hours chart shows that the pair barely holds above a mild bullish 100 SMA, currently at 113.15, which gains upward traction above a directionless 200 SMA. Technical indicators in the mentioned chart, however, resumed their declines after a failed attempt to regain the upside, now nearing weekly lows and skewing the risk to the downside.
Support levels: 113.00 112.60 112.25
Resistance levels: 113.70 114.00 114.45
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