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

 

 

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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Latest Forex News

Editors’ Picks

AUD/USD following higher than expected Aussie Unemployment Rate

AUD/USD fails to cheer an increase in Employment Change. The pair declines to 0.6678 after flashing the intra-day low of 0.6668 as Australia’s employment data disappoints Aussie traders on early Thursday.

AUD/USD News

USD/JPY bulls catch a breath near multi-month top, stays above 111.00

USD/JPY seesaws around 111.30 at the start of Asian session. The risk barometer surged to the highest in nine months the previous day as Chinese authorities manage to placate traders. The pair consolidates gains following FOMC minutes.

USD/JPY News

Gold breaks to near 7-year highs amid coronavirus fears, next target is $1,617

Gold prices have extended their gains and have topped $1,611.42, the previous 2020 peak. XAU/USD is now trading at the highest levels since March 2013. Back then, it hit a high of $1,617, which is the next upside target.

Gold News

WTI upside remains capped by $53.00 ahead of API

WTI oil stays upbeat, following the run-up to the monthly high before a few minutes, as taking rounds to $53.70 amid the initial Asian session on Thursday. The black gold recently benefited from the weekly inventory data from the API.

Oil News

FXStreet launches Real-Time Trading Signals

FXStreet Signals offers access to explanatory live webinars, real-time notifications when signals are triggered and exclusive membership to the company’s Telegram group, where users get direct guidance by our analysts and get room to discuss and interact.

More info

Forex MAJORS

Cryptocurrencies

Signatures