USD/JPY Current Price: 108.36

  • BOJ’s Governor Kuroda scheduled to speak early Asia, no news expected.
  • USD/JPY poised to extend its advance toward 109.31, August monthly high.

The USD/JPY pair recovered from a daily low of 108.02 to settle around Friday’s close at 108.42, in a dull trading Monday. Both countries celebrate local holidays this Monday, without releasing macroeconomic data. The Japanese currency appreciated throughout the first two sessions of the day, following the lead of equities, weighed by the headlines related to the US-China trade talks and Brexit negotiations. In the first case, both countries have come to a truce in their trade war, announcing some progress in negotiations, although more talks coming in the next few months. In regards to Brexit, the stalemate situation continues.

Bank of Japan´s Governor Kuroda is due to offer a speech this Tuesday but could hardly surprise investors with something fresh related to the country’s monetary policy. Later in the day, the country will release August Industrial Production and Capacity Utilization, seen declining monthly basis, and the Tertiary Industry Index for the same month, seen at -0.2%.

USD/JPY short-term technical outlook

The USD/JPY pair is entering the Asian session with a bullish stance, as the pair bounced after briefly piercing the 23.6% retracement of its latest bullish run. In the 4 hours chart, technical indicators have eased from overbought levels, but show no aims of extending their slumps, while the 20 SMA keeps advancing below the current level, and above the 100 and 200 SMA. The pair has chances to extend its rally toward the 109.30 price zone on a break above 108.65, the immediate resistance.

Support levels: 108.00 107.60 107.25

Resistance levels: 108.65 109.00 109.35

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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended Content


Recommended Content

Editors’ Picks

GBP/USD clings to recovery gains above 1.3200, as BoE looms

GBP/USD clings to recovery gains above 1.3200, as BoE looms

GBP/USD sustains the recovery above 1.3200 in early Europe on Thursday, having found buyers near 1.3150. A fresh US Dollar pullback and a rebound in risk sentiment offer support to the pair ahead of the BoE policy announcements. 

GBP/USD News
EUR/USD holds higher ground above 1.1100, focus shifts to ECB-speak

EUR/USD holds higher ground above 1.1100, focus shifts to ECB-speak

EUR/USD is holding higher ground above 1.1100 in the early European session on Thursday. The pair is underpinned by the renewed US Dollar retreat, as traders digest the Fed's dovish outlook, bracing for ECB-speak for fresh trading incentives. US data are also eyed. 

EUR/USD News
Gold price jumps back closer to all-time peak, $2,600 remains in sight amid fresh USD weakness

Gold price jumps back closer to all-time peak, $2,600 remains in sight amid fresh USD weakness

Gold price regains positive traction following the previous day's pullback from the all-time peak and builds on its steady intraday ascent heading into the European session on Thursday. 

Gold News
BoE expected to keep interest rate unchanged at 5% as price pressures persist

BoE expected to keep interest rate unchanged at 5% as price pressures persist

After a close call in August, the Bank of England’s September interest rate decision is keenly awaited for fresh cues on the bank’s future policy action and the pace of its bond sales.

Read more
Bitcoin surges to $62,000 mark after 50 bps Fed rate cut

Bitcoin surges to $62,000 mark after 50 bps Fed rate cut

Bitcoin and Ripple eye for a rally as they break and find support around their resistance barrier. Meanwhile, Ethereum demonstrates signs of recovery as it approaches a critical resistance level, indicating that an upward rally could be on the horizon if it successfully breaks through.

Read more
Moneta Markets review 2024: All you need to know

Moneta Markets review 2024: All you need to know

VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.

Read More

Majors

Cryptocurrencies

Signatures