USD/JPY adds 20 pips on President Trump's comments


  • USD/JPY jumped more than 20 pips to a hit a session high of 108.13. 
  • The bid tone around the JPY weakened, possibly due to President Trump's positive comments on trade. 

The demand for the anti-risk Japanese Yen (JPY) weakened on the US President Trump's positive trade-related talks, allowing USD/JPY to jump by more than 20 pips 

The currency pair picked up a bid at 107.89 at 00:50 GMT and clocked a session high of 108.13 by 01:00 GMT. As of writing, the pair is trading at 108.04. 

President Trump, while speaking at a campaign rally in Minneapolis, said that trade talks with China are going well and that a deal could be reached. 

Risk-on favors further gains

The futures on the S&P 500 are currently reporting 0.15% gains. The index gained 0.64% on Thursday, as trade talks resumed, contradicting reports released in the Asian trading hours, which said Chinese officials could cut short their visit. 

Asian equities are flashing green at press time. Japan's Nikkei is currently adding 0.87% and Hong Kong's Hang Seng is up 1.26%. 

USD/JPY could continue to gain altitude, unless trade talks end on a sour note, torpedoing the risk recovery. President Trump will be meeting Chinese Vice Premier Liu later today. 

Technical levels

USD/JPY

Overview
Today last price 108.04
Today Daily Change 0.07
Today Daily Change % 0.06
Today daily open 107.97
 
Trends
Daily SMA20 107.66
Daily SMA50 106.92
Daily SMA100 107.6
Daily SMA200 109.07
 
Levels
Previous Daily High 108.02
Previous Daily Low 107.03
Previous Weekly High 108.48
Previous Weekly Low 106.48
Previous Monthly High 108.48
Previous Monthly Low 105.74
Daily Fibonacci 38.2% 107.64
Daily Fibonacci 61.8% 107.41
Daily Pivot Point S1 107.32
Daily Pivot Point S2 106.68
Daily Pivot Point S3 106.33
Daily Pivot Point R1 108.31
Daily Pivot Point R2 108.66
Daily Pivot Point R3 109.3

 

 

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