USD/JPY consolidates below 109.50 amid risk-off mood

  • USD/JPY remains depressive following the previous session’s heavy sell-off.
  • US Dollar Index remains steady above 93.00.
  • Dow Jones sinks more than 600 points as risk sentiment falters on Chinese property giant Evergrande.

USD/JPY continues to trade lower in the initial Asian session on Tuesday. The pair consolidated below 109.50 as risk sentiment worsened after the Chinese Evergrande fallout. At the time of writing, USD/JPY is trading at 109.39 down 0.01% for the day.

The US Dollar Index (DXY), which tracks the performance of the buck against the basket of six major currencies, remains elevated near 93.20 with 0.05% gains. Investors took a safety flight in US bonds amid a global sell-off in financial markets. The US benchmark 10-year Treasury yields fell nearly 6 basis points to 1.31% as yields move inversely to bond prices.

Market assessed the risk of China's second-largest property developer to expand across global markets. The Dow Jones dropped more than 600 points, the most since July and S&P 500 shed more than 75 points. 

Meantime, US Treasury Secretary Janet Yellen warned that the failure of the debt ceiling raise could spark a historic financial crisis. The comments weighed on the greenback's performance.

On the other hand, the Japanese Yen enjoyed its safe-haven appeal and attracted traders attention on Monday. The sentiment was further supported after the Bank of Japan (BOJ) is expected to keep its policy steady this week, but could offer a bleaker view on exports and output due to the impact of the pandemic.

As for now, traders turn their attention to the US Housing Starts, Building Permits, and Current Account data to gauge the market sentiment.


Today last price 109.39
Today Daily Change -0.52
Today Daily Change % -0.47
Today daily open 109.91
Daily SMA20 109.88
Daily SMA50 109.91
Daily SMA100 109.85
Daily SMA200 108.1
Previous Daily High 110.08
Previous Daily Low 109.67
Previous Weekly High 110.16
Previous Weekly Low 109.11
Previous Monthly High 110.8
Previous Monthly Low 108.72
Daily Fibonacci 38.2% 109.92
Daily Fibonacci 61.8% 109.83
Daily Pivot Point S1 109.69
Daily Pivot Point S2 109.47
Daily Pivot Point S3 109.28
Daily Pivot Point R1 110.11
Daily Pivot Point R2 110.3
Daily Pivot Point R3 110.52



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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD retreats below 1.1300 area as NFP-inspired dollar weakness fades

EUR/USD jumped to a daily high of 1.1333 with the initial market reaction to the disappointing November Nonfarm Payrolls data but quickly returned below 1.1300. Rising US Treasury bond yields seem to be helping the dollar stay resilient against its major rivals. 


GBP/USDdrops to 1.3250 area as dollar regains strength

GBP/USD spiked above 1.3300 in the early American session with the initial market reaction to the gloomy US November jobs report. However, the greenback regathered strength on hawkish Fed commentary and forced the pair to turn south.


Gold struggles to capitalize on weak NFP data, holds near $1,770

Gold spiked to a daily high near $1,780 with the initial market reaction to the disappointing Nonfarm Payrolls data from the US but seems to be having a difficult time preserving its bullish momentum with the 10-year US T-bond yield staying resilient.

Gold News

The bull and the bear case for BTC

Bitcoin price saw a bullish impulse that faced massive headwinds before it tagged a crucial psychological barrier. Bitcoin is likely to experience massive volatility as the situation resolves over time. 

Read more

Cyber Monday 2021 Discounts!

Glued to your trading screen on Cyber Monday? Upgrade your skills by signing up for FXStreet’s Premium service, offered at a discount of up to 50%. Fellow traders have already taken advantage of Black Friday profits. What about you? 

Subscribe now!