USD/JPY declines toward 104.00 amid ongoing USD selloff

  • USD/JPY turned south after closing in the positive territory on Wednesday.
  • US Dollar Index suffers heavy losses below 91.00.
  • Eyes on US Jobless Claims and Services PMı data.

After rising to a fresh weekly high of 104.76 on Wednesday, the USD/JPY pair turned south on Thursday pressured by the persistent selling pressure surrounding the greenback. As of writing, the pair was down 0.32% on the day at 104.06.

DXY continues to push lower after breaking below 91.00

In the absence of significant fundamental drivers, investors don't seem to be seeing any reason to stop selling the USD on Thursday. In the meantime, heightened hopes for a Brexit deal is helping major European currencies gather strength and put additional weight on the buck.

At the moment, the US Dollar Index, which touched its lowest level in more than two years at 90.69 earlier in the session, is down 0.45% on the day at 90.71.

Later in the day, the IHS Marit and the ISM will be both releasing the November PMI data. Additionally, the US Department of Labor will publish its weekly Initial Jobless Claims report.

In the meantime, the 10-year US Treasury bond yield is flat on the day at 0.936%, failing to provide a directional clue to USD/JPY. Moreover, the market mood remains neutral with the S&P 500 Futures staying unchanged and allowing the USD's market valuation to continue to impact the pair's movements.

Technical levels to watch for


Today last price 104.1
Today Daily Change -0.41
Today Daily Change % -0.39
Today daily open 104.51
Daily SMA20 104.39
Daily SMA50 104.88
Daily SMA100 105.41
Daily SMA200 106.5
Previous Daily High 104.75
Previous Daily Low 104.23
Previous Weekly High 104.76
Previous Weekly Low 103.68
Previous Monthly High 105.68
Previous Monthly Low 103.18
Daily Fibonacci 38.2% 104.55
Daily Fibonacci 61.8% 104.43
Daily Pivot Point S1 104.24
Daily Pivot Point S2 103.97
Daily Pivot Point S3 103.71
Daily Pivot Point R1 104.76
Daily Pivot Point R2 105.02
Daily Pivot Point R3 105.29



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 hits fresh one-month low amid souring market mood

EUR/USD has been extending its falls and dips below 1.21 as US retail sales badly disappointed and the worsening mood is supporting the safe-haven dollar. Markets digest Biden's stimulus plan. US Consumer Sentiment declined to 59.2 points. 


GBP/USD retreats toward 1.36 amid fresh dollar strength

GBP/US has pared its gains and falls toward 1.36 as the dollar gains ground. The UK economy shrank by 2.6% in November, better than estimated. The UK is ramping up its vaccination campaign and PM Johnson is pressured to ease the lockdown. 


Gold extends sideways grind near $1,850

The XAU/USD pair registered small daily gains on Thursday but struggled to extend its recovery amid a lack of significant fundamental drivers on Friday. As of writing, the pair was up 0.15% on a daily basis at $1,849.

Gold news

Forex Today: Markets “sell the fact” on Biden's stimulus, dollar rises, retail sales eyed

Markets are on the back foot after Biden hinted about tax hikes while introducing stimulus. The safe-haven dollar is edging higher despite Powell's pledge to keep monetary policy accommodative. 

Read more

DXY breaks above key downtrend, eyes move above 91.00

USD has been strongly supported on what has shaped up to be a very much risk off final trading day of the week. Most G10/USD pairs have seen significant weakness, aside from CHF/USD and JPY/USD, given that the two currencies are also considered “safe havens”.

US Dollar Index News