Risk-off lifts Yen, pushes USD/JPY lower to 108.20

  • USD/JPY is trading at session lows near 108.20. 
  • Risk aversion in equities has likely put a bid under the JPY. 
  • Treasury yields are also losing altitude. 

With equities flashing red this Thursday morning in Asia, the anti-risk Japanese Yen is better bid and the USD/JPY is reporting a 0.26% drop. 

The pair has shed 30 pips in the last hour or so to hit a session low of 108.16. 

The futures on the S&P 500 are currently reporting a 0.27% drop. Meanwhile, major Asian equity indices like Hang Seng, Nikkei, and the Shanghai Composite are down at least 0.7% each. 

The equities are reporting losses likely due to lingering trade tensions. U.S. President Donald Trump said on Wednesday he had no specific deadline for a trade deal with China that would allow the world's second-largest economy to escape 25% tariff on its $300 billion worth of exports to the US, according to Reuters. 

If the risk aversion worsens in Europe, then USD/JPY will likely drop below the psychological support of 108.00. 

It is worth noting that the 10-year treasury yield is already feeling the pull of gravity and will likely add to the bearish tone around the USD/JPY pair. At press time, the yield is trading at 2.10%, having hit a high of 2.18% on Tuesday. 

Technical Levels


Today last price 108.22
Today Daily Change -0.29
Today Daily Change % -0.27
Today daily open 108.51
Daily SMA20 109.14
Daily SMA50 110.38
Daily SMA100 110.52
Daily SMA200 111.26
Previous Daily High 108.58
Previous Daily Low 108.22
Previous Weekly High 108.62
Previous Weekly Low 107.81
Previous Monthly High 111.71
Previous Monthly Low 108.23
Daily Fibonacci 38.2% 108.36
Daily Fibonacci 61.8% 108.44
Daily Pivot Point S1 108.29
Daily Pivot Point S2 108.07
Daily Pivot Point S3 107.92
Daily Pivot Point R1 108.66
Daily Pivot Point R2 108.81
Daily Pivot Point R3 109.03



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 News

Editors’ Picks

EUR/USD extends its gains toward 1.1300 after the dovish Fed decision

EUR/USD has extended its gains after the Fed opened the door to cutting interest rates, stating that uncertainties have increased. Markets are awaiting EU leaders to divvy up top jobs.


GBP/USD holds onto gains after retail sales, ahead of the BOE

GBP/USD has extended its gains above 1.2700 after the Fed opened the door to rate cuts. UK retail sales fell by 0.5% in May as expected. The BOE's decision and two more rounds of the Conservative contest await traders.


USD/JPY rebounds from multi-month lows, continues to trade below 108

Fed's dovish shift continues to weigh on the greenback. 10-year US Treasury bond yield plummets to lowest level since November 2016. Wall Street looks to open sharply higher on Thursday.


Gold eases from multi-year tops, still well bid near $1380 level

Gold built on the post-FOMC upsurge and rallied to near six-year tops during the Asian session on Thursday, albeit retreated a bit thereafter.

Gold News

FOMC: Prelude to a rate cut?

The Federal Reserve added little new to its policy prescript in Wednesday’s FOMC statement and economic projections and with the anticipation for a July rate cut long priced into market levels the reaction was decidedly uninvolved.

Read more