USD/JPY: Bears gearing up for a break below 105.00 amid risk-off


  • USD/JPY on the back foot amid risk-aversion as mounting global concerns weigh.
  • All eyes on fresh trade news, key US CPI report for USD/JPY’s next move.

The USD/JPY bears are seen making another attempt towards the 105 handle, as risk-off sentiment dominates the European trading amid global slowdown fears and Hong Kong protests among other global concerns.

USD/JPY: A break below 105.00 looks inevitable

Amid risk-aversion at full steam, as reflected by the negative European equities, Treasury yields and US equity futures, the safe-haven demand for the Japanese Yen is back into markets. Thus, knocking-off USD/JPY towards daily lows of 105.14.

Traders remain spooked by the latest Argentinian currency and stock markets crash while escalating Hong Kong protests combined with lingering US-China trade tensions fed global economic concerns continue to dent the appetite for risk assets.

Despite the latest leg down, the spot manages to hold above the seven-month lows of 105.05 reached on Monday, as the buying interest around the US dollar vs. its six major peers offers some support to the prices.

Attention now turns towards the US CPI data, due for release at 1230 GMT, for fresh hints on the Fed’s interest rates outlook and near-term trading opportunities in the pair.

USD/JPY Technical levels

USD/JPY

Overview
Today last price 105.20
Today Daily Change -0.07
Today Daily Change % -0.07
Today daily open 105.3
 
Trends
Daily SMA20 107.43
Daily SMA50 107.85
Daily SMA100 109.3
Daily SMA200 110.23
Levels
Previous Daily High 105.7
Previous Daily Low 105.05
Previous Weekly High 107.09
Previous Weekly Low 105.26
Previous Monthly High 109.01
Previous Monthly Low 107.21
Daily Fibonacci 38.2% 105.3
Daily Fibonacci 61.8% 105.45
Daily Pivot Point S1 105
Daily Pivot Point S2 104.7
Daily Pivot Point S3 104.35
Daily Pivot Point R1 105.65
Daily Pivot Point R2 106
Daily Pivot Point R3 106.3

 

 

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 holding onto gains amid trade wars, ahead of German IFO

EUR/USD is trading around 1.1150, consolidating its gains after the escalation in US-Sino trade wars sent US yields and the greenback lower. German IFO Business Climate is next.

EUR/USD News

GBP/USD consolidates amid Brexit uncertainty

GBP/USD is trading below 1.2300, consolidating its gains. The UK and the EU have been blaming each other for a potential no-deal Brexit. US-Sino tensions are in play as well.

GBP/USD News

USD/JPY drops back below 105.50 amid US-Japan trade news

USD/JPY filled in the bearish opening gap and jumped to 105.78 highs amid upbeat comments from Chinese VIce-Premier Liu on trade before reversing sharply below the 105.50 level following reports on US-Japan trade progress. 

USD/JPY News

Gold: Risk-off rally stalls after US, China aim to calm trade war fears

Having surged to the fresh high since April 2013, Gold declines to the intra-day low of $1,538.50, before taking rounds to $1541.60, by the press time of early Monday. China shows readiness to have a calm discussion with the US.

Gold News

Forex Today: Trade wars paint markets in red, Brexit looks worse, and central banks are limited

Here is what you need to know on Monday, August 26th: The US-Sino trade war is painting global markets in the red. The US dollar is losing some ground to major currencies as yields plunge, while it gains against commodity currencies. Gold is rising and oil is falling.

Read more

MAJORS

Cryptocurrencies

Signatures


  •  
  •  
  •  
  •  
  •