USD/JPY clings to small daily gains above 109.50


  • 10-year US Treasury bond yield registers modest gains.
  • Wall Street looks to open in positive territory.
  • US Dollar Index stays above 97.80 ahead of PMI data.

The USD/JPY pair lost more than 100 pips this after rising to its highest level since May at 110.30 last Friday as heightened fears over coronavirus spreading and becoming a global epidemic allowed JPY to find demand as a safe-haven. With the market sentiment improving slightly, however, the pair recovered a small portion of its weekly losses on Friday and was last up 0.12% on the day at 109.62.

Risk aversion softens on Friday

On Thursday, the World Health Organisation's (WHO) director-general, Tedros Adhanom Ghebreyesus, noted that coronavirus has not yet become a global health emergency and added that they were not yet recommending any broader restrictions on travel or trade. Additionally, "it's still too early to draw conclusions on how severe the virus is," a spokesman for the WHO said on Friday, to help the market sentiment improve.

The 10-year US Treasury bond yield, which closed the last three days in the negative territory, was last up 0.3% on the day and the S&P 500 futures were adding 0.25% to suggest that Wall Street's main indexes are likely to start the day in the positive territory.

In the meantime, the US Dollar Index is edging higher toward the 98 mark ahead of the IHS Markit's Manufacturing and Services PMI data later in the session to keep the bullish momentum intact.

Technical levels to watch for

USD/JPY

Overview
Today last price 109.61
Today Daily Change 0.12
Today Daily Change % 0.11
Today daily open 109.49
 
Trends
Daily SMA20 109.34
Daily SMA50 109.17
Daily SMA100 108.67
Daily SMA200 108.52
 
Levels
Previous Daily High 109.9
Previous Daily Low 109.26
Previous Weekly High 110.3
Previous Weekly Low 109.46
Previous Monthly High 109.8
Previous Monthly Low 108.43
Daily Fibonacci 38.2% 109.51
Daily Fibonacci 61.8% 109.66
Daily Pivot Point S1 109.21
Daily Pivot Point S2 108.92
Daily Pivot Point S3 108.57
Daily Pivot Point R1 109.84
Daily Pivot Point R2 110.19
Daily Pivot Point R3 110.47

 

 

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