USD/JPY climbs to fresh YTD tops, bulls eyeing a move towards 111.00 handle

   •  The prevalent risk-on mood continues to dent JPY’s safe-haven status. 
   •  Softer Japanese PPI/renewed USD buying remained supportive of the move.
   •  The latest US consumer inflation figures now eyed for some fresh impetus.

The USD/JPY pair traded with a positive bias for the third consecutive session and touched 1-1/2 month high level of 110.77, or fresh YTD tops in the last hour.

The Japanese Yen continues to be weighed down by fading safe-haven demand amid the prevalent risk-on mood in broader markets, supported by rising hopes of a breakthrough in the US-China trade talks and the US President Donald Trump's overnight comments that he could let the March 1 tariff deadline to slide for a while. 

Investors' appetite for riskier assets got an additional boost on news that the US lawmakers have reached a tentative budget deal to avert another partial government shutdown, which coupled with softer Japanese Producer Price Index (PPI) further dented the already weaker sentiment surrounding the domestic currency.

Meanwhile, the US Dollar stalled its overnight corrective slide and regained some positive traction during the early European trading session, which provided an additional boost to the major and was sen as one of the key factors behind the pair's latest leg of an uptick to the highest level since late November.

Further gains, however, remained limited as market participants now look forward to the release of the latest US consumer inflation figures for some fresh impetus. Even the slightest of disappointment would be enough to prompt some fresh USD long-unwinding trade and exert some downward pressure on the major.

Technical levels to watch


    Today Last Price: 110.7
    Today Daily change %: 0.21%
    Today Daily Open: 110.47
    Daily SMA20: 109.62
    Daily SMA50: 110.3
    Daily SMA100: 111.69
    Daily SMA200: 111.28
    Previous Daily High: 110.66
    Previous Daily Low: 110.34
    Previous Weekly High: 110.16
    Previous Weekly Low: 109.43
    Previous Monthly High: 110
    Previous Monthly Low: 104.75
    Daily Fibonacci 38.2%: 110.54
    Daily Fibonacci 61.8%: 110.46
    Daily Pivot Point S1: 110.33
    Daily Pivot Point S2: 110.18
    Daily Pivot Point S3: 110.01
    Daily Pivot Point R1: 110.64
    Daily Pivot Point R2: 110.8
    Daily Pivot Point R3: 110.95


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 struggles despite US-China trade truce, focus on German inflation

EUR/USD is on the defensive, but holding above the 200-day moving average. Reports of US-China trade truce are boding well for the US Dollar. An above-forecast German CPI could yield a rally in EUR/USD. 


GBP/USD: Less attention to UK politics as all eyes on trade headlines

UK political hustings, statements from MPs couldn’t lure the GBP/USD traders. Markets await fresh headlines from the G20 meeting for fresh impulse. US data can offer intermediate trade opportunities.


USD/JPY extends the break above 108.00 on US-China trade truce news

The latest reports of a US-China trade truce triggered a renewed risk-on wave and knocked-off the Yen, with the USD/JPY pair now extending its break above the 108 handle while the focus shifts towards the US Q1 final GDP data for fresh impetus.  


Gold: Off 6-year highs, but breakout on monthly chart a done deal

With the 14-day relative strength index (RSI) still holding well above 70.00, the yellow metal may drop below $1,400 in the next 24-36 hours. Also, reports of temporary US-China trade truce could weigh over the safe haven metal.

Gold News

US Q1 GDP Final Revision Preview: Look ahead not behind

The second revision and third version of first quarter annualized GDP is expected to be unchanged at 3.1%. The initial release was 3.2%. The unexpected strength of the US economy in the first quarter came after a successful 2018.

Read more