USD/JPY clings to modest recovery gains above 109.50 ahead of US data


  • 10-year US T-bond yield rebounds from multi-week lows.
  • US Dollar Index stays directionless near mid-97s.
  • Coming up: Weekly jobless claims, housing starts and building permits data from the U.S.

The USD/JPY pair came under a modest pressure during the Asian session on Thursday as reports of the U.S. banning Chinese tech-giant Huawei escalated, once again, the geopolitical tensions. After slumping to 109.30 area and moving in a tight range near that level, however, the pair gained traction in the last hour and turned positive on the day. As of writing, the pair was up 0.08% at 109.67.

The 10-year US Treasury bond yield, which slumped to its lowest level since late March at 2.340% earlier in the day, also took advantage of the slightly-improved market sentiment and turned positive on the day to help the pair push higher. Moreover, major European equity indexes are posting gains in the day, confirming the risk-on atmosphere. Similarly, the S&P 500 Futures is adding 0.3% to point to a positive Wall Street opening.

In the second half of the day, weekly jobless claims, housing starts, building permits data and Philly Fed Manufacturing Survey from the U.S. will be looked upon for fresh impetus. Investors will also be paying close attention to fresh developments surrounding the U.S.-China trade dispute and the market's risk perception. The Japanese economic docket on Friday will feature the Tertiary Industry Index, which is likely to be ignored by the market participants.

Technical levels to watch for

USD/JPY

Overview
Today last price 109.66
Today Daily Change 0.07
Today Daily Change % 0.06
Today daily open 109.59
 
Trends
Daily SMA20 110.97
Daily SMA50 111.14
Daily SMA100 110.51
Daily SMA200 111.45
Levels
Previous Daily High 109.71
Previous Daily Low 109.15
Previous Weekly High 110.96
Previous Weekly Low 109.46
Previous Monthly High 112.4
Previous Monthly Low 110.8
Daily Fibonacci 38.2% 109.37
Daily Fibonacci 61.8% 109.5
Daily Pivot Point S1 109.26
Daily Pivot Point S2 108.93
Daily Pivot Point S3 108.71
Daily Pivot Point R1 109.82
Daily Pivot Point R2 110.04
Daily Pivot Point R3 110.37

 

 

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

Dollar ticks higher as most Fed officials see cuts as a mid-cycle adjustment

The Minutes of the latest Federal Reserve meeting are out, giving the greenback a modest lift against most major rivals. Policymakers concerned about the efficacy of QE. EUR/USD trading below 1.1100.

EUR/USD News

GBP/USD: Struggles between 10/21-DMA amid bullish MACD

Despite reversing from the 21-day simple moving average (DMA), GBP/USD remains above 10-DMA as it trades near 1.2134 during Asian session on Thursday. Supporting the pair’s upside is a bullish signal by 12-bar MACD.

GBP/USD News

USD/JPY weaker near 106.50, focus on T-yields ahead of Powell

USD/JPY trades weaker near the 106.50 level, tracking the negative S&P 500 futures and a cautious sentiment on the Asian equities, as attention shifts from the FOMC minutes to the Fed's Powell speech for fresh direction. 

USD/JPY News

Gold: Trapped in a symmetrical triangle

Gold is trapped in a narrowing price or a symmetrical triangle pattern, according to the 4-hour chart. The yellow metal rose to a six-year high of $1,353 per Oz on Aug. 13 and has charted lower highs and higher lows ever since.

Gold News

The Fed Minutes are Out, but Does It Matter?

The FOMC July 31st Minutes were released earlier today and the collective market seems to think the minutes are less dovish than expected! Gold was volatile right before the release.

Read more

MAJORS

Cryptocurrencies

Signatures


  •  
  •  
  •  
  •  
  •