USD/JPY Current price: 111.89

  • Dismal Japanese data ends benefiting the yen in a risk-averse environment.
  • Equities losing momentum after mixed earnings reports, yields holding at highs.

 The USD/JPY pair continues trading just below the 112.00 mark, with major pairs still confined to tight intraday ranges. The pair extended its weekly decline by a few pips, bottoming at 111.84, as the greenback remained pressured and risk-related sentiment continued deteriorating, following Wall Street's negative close, and comments from US President Trump, once again taking it against Fed's monetary policy of higher interest rates. Japanese data released at the beginning of the day disappointed,  as the March Tertiary Industry Index declined by 0.6% in March, worse than the -0.2% expected. The negative reading exacerbated risk-off sentiment. Meanwhile, US Treasury yields continue hovering near the multi-week highs set late last week, limiting USD/JPY declines.

The American currency advances against other rivals included safe-haven gold, yet seems poised to extend its decline against the yen. The US macroeconomic calendar will remain scarce, offering today March´s Capacity Utilization and Industrial Production, seen barely up when compared to February.

The pair trades near the mentioned low, nearing a sharply bullish 20 SMA in the 4 hours chart around 111.80, providing an immediate short-term support. Technical indicators in the mentioned chart ease from overbought levels, the Momentum now trying to stabilize just above its 100 line, while the RSI maintains its downward slope, now at around 58. The case for a downward extension will be clearer once below 111.80 and firmer, should the pair extend its decline below 111.50. The upside remains capped by selling interest at around 112.13, the yearly high, with the tide changing only on a clear break above the level.  

Support levels: 111.80 111.50 111.20

Resistance levels: 112.15 112.50 112.85

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.

Feed news

Latest Forex Analysis

Editors’ Picks

EUR/USD consolidates losses as Fed moderates message

EUR/USD is trading above 1.1350, consolidating losses. The Fed's Bullard and Chair Powell have conveyed a balanced message, boosting the greenback. Treasury Secretary Mnuchin said 90% of the deal with China is done.


GBP/USD trades below 1.2700

GBP/USD is trading below 1.2700. BOE Gov. Carney said the BOE may cut rates in case of a no-deal Brexit. Boris Johnson has rattled markets by saying leaving the EU by October 31st is "do or die."


USD/JPY sticks to gains near 107.70, looks to snap 7-day losing streak

Following the sharp upsurge witnessed during the European trading hours, the USD/JPY pair has gone into a consolidation phase and is now moving in a relatively tight range in the upper half of its daily trading range.


EIA: Crude inventories decreased by 12.8 million barrels, WTI inches closer to $60

In its weekly petroleum report for the week ending June 21, the Energy Information Administration (EIA) announced that the commercial crude oil inventories in the United States decreased by 12.8 million barrels from the previous week. 

Read more

Gold finds some support near $1400 mark, lacks follow-through

Gold held on to its weaker tone through the early North-American session, albeit pared a part of its intraday slide to the $1400 neighbourhood post-US economic data.

Gold News