USD/JPY clings to small gains above 110 after US CPI data


  • Annual core CPI in US stayed unchanged at 2.3% in December.
  • US Dollar Index posts modest daily gains above 97.50.
  • Wall Street looks to open flat on Tuesday.

The USD/JPY pair started the week on strong footing and rose above the 110 handle for the first time since mid-May as the upbeat market mood caused the safe-haven JPY to lose demand. Although the pair edged higher earlier in the day on Tuesday, it seems to be waiting for the next catalyst. As of writing, the pair was up 0.12% on the day at 110.06.

The US Department of Treasury's decision to remove China from its list of currency manipulators before the US and China sign the phase-one deal in Washington on Wednesday provided a boost to the market sentiment. Now, investors are waiting to see the details of the phase-one deal, which are expected to be released ahead of the signing ceremony.

US Dollar Index stays in range after CPI data

The data published by the US Bureau of Labor Statistics (BLS) on Tuesday showed that the core Consumer Price Index (CPI) stayed unchanged at 2.3% on a yearly basis in December to match the market expectation despite ticking down to 0.1% on a monthly basis. The US Dollar Index largely ignored the data and was last seen adding 0.15% on the day at 97.52.

In the meantime, Wall Street's main indexes look to start the day flat as investors seem to be opting out to stay on the sidelines ahead of key earnings figures. Reflecting the neutral mood, the 10-year US Treasury bond yield is registering small daily losses. 

Technical levels to watch for

USD/JPY

Overview
Today last price 110.01
Today Daily Change 0.08
Today Daily Change % 0.07
Today daily open 109.93
 
Trends
Daily SMA20 109.14
Daily SMA50 109.02
Daily SMA100 108.38
Daily SMA200 108.59
 
Levels
Previous Daily High 109.95
Previous Daily Low 109.46
Previous Weekly High 109.69
Previous Weekly Low 107.65
Previous Monthly High 109.8
Previous Monthly Low 108.43
Daily Fibonacci 38.2% 109.76
Daily Fibonacci 61.8% 109.64
Daily Pivot Point S1 109.6
Daily Pivot Point S2 109.28
Daily Pivot Point S3 109.11
Daily Pivot Point R1 110.1
Daily Pivot Point R2 110.27
Daily Pivot Point R3 110.59

 

 

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


Latest Forex News

Editors’ Picks

EUR/USD bounces from near 1.1700, posts modest intraday advance

EUR/USD trades within familiar levels, holding above 1.17 as US bond yields rise amid the US fiscal impasse and ahead of US inflation figures. Coronavirus and growth-related headlines lead the way for financial markets.

EUR/USD News

GBP/USD resumes slide and nears 1.30 after UK Q2 GDP fell 20.4%

GBP/USD met sellers around 1.3050 and is back under pressure, after UK Q2 GDP fell by 20.4%, marginally above expectations. The devastating drop was priced in by markets and US inflation is now eyed.

GBP/USD News

Gold bounces above $1,900 after rapid collapse

Gold is trading above $1,900 recovering from the biggest rout in seven years. Profit-taking and higher US yields weigh on the precious metal. US inflation figures are eyed.

Gold News

Cryptos: Euphoria takes its toll, volatility ahead

The overbought level in the crypto market, reflected in extreme bullish sentiment levels, called for a pause in the uptrend and has come in recent hours. Ethereum, the undisputed leader of the bullish movement.

Read more

WTI: Big move looks overdue

WTI could soon witness a big move in either direction. That’s because, the spread between Bollinger bands – volatility indicators placed 2 standard deviations above and below the 20-day simple moving average of price - has narrowed ...

Oil News

Forex MAJORS

Cryptocurrencies

Signatures