USD/JPY Current price: 109.82

  • Better market mood helped the pair correct up to near 110.00.
  • US Treasury yields bounced after flirting with yearly lows.

The USD/JPY pair edged higher and flirted with the 110.00 figure this Thursday, although the level held, with the pair finishing the day in the 109.80 price zone. The recovery was a result of the better performance of US equities, lifted by outstanding earnings reports, and recovering government bond yields, as positive US data sent investors away from safety and further into riskier assets. The benchmark yield on the Treasury 10-year note bounced to 2.40% after falling to 2.35%, flirting with yearly lows. Japan released at the beginning of the day the April Domestic Corporate Goods Price Index, which rose 0.3% MoM and by 1.2% YoY this last, beating expectations. This Friday will start with the country publishing the April Tertiary Industry Index seen down by 0.4%, following a -0.6% decline in March.

The USD/JPY pair trades above the previous three days' highs in the 109.70 price zone, having stalled its recovery at the 50% retracement of the daily decline measured between 110.95 and 109.01. The pair seems poised to extend its upward corrective movement, as its advancing above its 20 SMA for the first time in almost a month, still far below the larger ones, which maintain their bearish slopes. The Momentum indicator bounced after nearing its mid-line, while the RSI has lost upward strength, holding however at around 55. The pair would need to clear the 110.10 level to be able to advance further, while below 109.45, the risk will turn to the downside.

Support levels: 109.45 109.10 108.80  

Resistance levels: 110.10 110.50 110.85

View Live Chart for the USD/JPY

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Analysis feed

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex Analysis

Editors’ Picks

EUR/USD chops around amid end-of-month flows, ahead of Trump

EUR/USD is battling 1.11, close to the two-month highs amid choppy trading. Hopes for a fiscal boost in Europe and mixed satisfactory data have supported the currency pair. , Sino-American tensions are rising and investors await President Trump's China announcement.


GBP/USD advances amid US dollar weakness, shrugging off concerns

GBP/USD is trading above 1.23, edging higher amid US dollar weakness and Britain's gradual reopening. Intensifying Sino-American tensions and the Brexit impasse are ignored. 


Cryptocurrencies: $348M in matured derivatives boost the market

Futures and options contracts' expiration brings a wave of volatility to the crypto market. Ethereum takes advantage and attacks resistances in the market dominance chart, Bitcoin goes back. Ripple disappoints despite regaining the third place in market capitalization.

Read more

Canada's economy falls by 8.2% annualized in Q1, better than expected, USD/CAD shakes

The Canadian economy squeezed by an annualized rate of 8.2% in the first quarter of 2020, better than -10% expected. Quarterly, Gross Domestic Product (GDP) squeezed by 2.1%. Most of the downfall occurred in March, with a drop of 7.2%, better than 8.5% projected. 

Read more

WTI drops 4% and eyes $32 mark amid risk-off, weakening demand

The selling pressure around WTI (July futures on Nymex) accelerates following the break below the 33 level, as bears now target the 32 support zone heading into the key US macro data and US President Donald Trump’s response to the Hong Kong issue.

Oil News

Forex Majors