USD/JPY consolidates the recovery below 110.00 amid mixed markets

  • USD/JPY’s recovery remains capped below 110.00.
  • Upbeat Japanese data counters higher S&P 500 futures amid mixed mood.
  • Focus shifts to the US data and Powell’s speech for fresh impetus.

USD/JPY is consolidating the recovery below 110.00, as investors turn cautious amid mixed market sentiment and await the Fed Chair Jerome Powell’s speech for fresh trading impetus.

The spot fails to find any comfort from the renewed strength seen in the S&P 500 futures, as widening Japanese Current Account surplus and negative domestic equities underpin the sentiment around the yen. Japan’s Balance of Payment Current Account for February rose by JPY2916.9 billion vs. JPY1996 billion expected.

The pair recovered ground in the US last session, tracking the broad-based rebound in the US dollar, as Wall Street indices saw subdued trading ahead of the earnings seasons while investors digested the FOMC March meeting’s minutes. The rise in the US Treasury yields across the curve also supported the late recovery in the major from near the 109.60 region.

In the day ahead, if the risk-off mood deepens then the US dollar could regain its upside momentum and drive USD/JPY back above 110.00. However, the dollar’s fate hinges on the broader market sentiment and Powell’s comments after the dovish Fed minutes were largely ignored.

Also, of note remains the US Jobless Claims, especially in light of the recent slew of stronger employment and business activity data. Meanwhile, the coronavirus updates also remain in focus, with Tokyo and other areas in Japan considering tighter covid restrictions, per local media reports.

USD/JPY: Technical levels


Today last price 109.85
Today Daily Change -0.02
Today Daily Change % -0.02
Today daily open 109.85
Daily SMA20 109.45
Daily SMA50 107.36
Daily SMA100 105.58
Daily SMA200 105.65
Previous Daily High 109.94
Previous Daily Low 109.58
Previous Weekly High 110.97
Previous Weekly Low 109.37
Previous Monthly High 110.97
Previous Monthly Low 106.37
Daily Fibonacci 38.2% 109.8
Daily Fibonacci 61.8% 109.72
Daily Pivot Point S1 109.64
Daily Pivot Point S2 109.43
Daily Pivot Point S3 109.27
Daily Pivot Point R1 110
Daily Pivot Point R2 110.15
Daily Pivot Point R3 110.36



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