Breaking: USD/JPY cracks 109.00 as risk sentiment worsens

FXStreet Team FXStreet

The buying interest around the safe-haven yen remains unabated in Friday's Asian trading, knocking-off the USD/JPY pair to the weakest levels in three weeks below the 109 level.

The spot continues to face a double whammy, with a March Fed rate cut expectations weighing heavily on the US Treasury yields and dollar on one hand.

On the other hand, the yen continues to draw bids amid a persistent risk-off environment, induced by growing fears over a coronavirus pandemic, which will have a significant negative impact on the global economy.

The rout in the global equities extends alongside a 0.40% drop in the S&P 500 futures, reflecting the market's risk perception, as the virus outbreak spreads faster outside China and the World Health Organization (WHO) said that it has reached a "decisive point" and has "pandemic potential".

Meanwhile, the benchmark US 10-year Treasury yields dive over 3% amid a 99.2% chance of a Fed rate cut in March.

USD/JPY technical levels to watch out

USD/JPY

Overview
Today last price	108.92
Today Daily Change	-0.76
Today Daily Change %	-0.69
Today daily open	109.84

Trends
Daily SMA20	110.05
Daily SMA50	109.61
Daily SMA100	109.23
Daily SMA200	108.41

Levels
Previous Daily High	110.47
Previous Daily Low	109.69
Previous Weekly High	112.23
Previous Weekly Low	109.66
Previous Monthly High	110.29
Previous Monthly Low	107.65
Daily Fibonacci 38.2%	109.99
Daily Fibonacci 61.8%	110.18
Daily Pivot Point S1	109.53
Daily Pivot Point S2	109.22
Daily Pivot Point S3	108.75
Daily Pivot Point R1	110.31
Daily Pivot Point R2	110.78
Daily Pivot Point R3	111.09

Author

FXStreet Team

FXStreet

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