USD/JPY drops toward 105.00 as Trump, Biden answer questions

  • USD/JPY defies recovery moves from 105.32 to refresh intraday low with 105.28.
  • US President Donald Trump, Presidential Candidate Joe Biden answer questions in the “town hall” style.
  • NBC is mostly blamed for interrupting Trump before he answers, Biden managed to garner praise on ABC.
  • Japan press earlier reported rejecting US proposals to raise bars for Chinese telecommunication companies.

USD/JPY bounces off 105.28 to 105.35, following the early-day downbeat move to 105.32, amid the initial hour of Tokyo open on Friday. The pair recently gained as markets spot difference in US President Trump’s comments versus reality on the coronavirus (COVID-19) relief bill. This follows the pair’s upbeat performance on Thursday that took hints from the broad US dollar strength amid a risk-off mood.

Risks dwindle even as Trump tries to placate bears…

Although NBC’s Savannah Guthrie tried to disturb Mr. President multiple times during the question and answer session, the White House leader blew all barriers while suggesting that the stimulus deal between US House Speaker Nancy Pelosi and Treasury Secretary Steve Mnuchin will arrive for a vote soon.

On the other hand, Biden keeps his calm attitude to answer the questions and is mostly welcomed in the initial approach, shown on Abc news. The New York Times mentioned, “Former Vice President Joseph R. Biden Jr. said he would take a coronavirus vaccine if one became available by the end of the year.”

Elsewhere, Japan’s Yomiuri conveyed early in Asia that Tokyo Informed the US it won't participate in the Trump administration's plan to exclude Chinese firms from telecommunications networks. This should ideally help the risk-tone sentiment, as it favored the S&P 500 Futures, but couldn’t help the Asia-Pacific stocks as Nikkei 225, ASX 200 and NZX 50 are all in the mildly red shades by the time of writing.

It should be noted that the fears of worsening virus conditions and increasing odds for no COVID-19 aid package from the US have earlier weighed down the market sentiment on Thursday. Europe marked the biggest weekly surge in pandemic numbers whereas cases in Wisconsin also suggest a wider than initially feared wave of the deadly virus.

Although Trump-Biden chatter can offer intermediate direction to the pair, major attention will be given to the virus updates and the stimulus news amid a light calendar in Asia.

Technical analysis

Buyers keep struggling to break the 105.50/55 upside barrier while targeting the monthly peak surrounding 106.10. Alternatively, sellers look for entries below 104.90.

Additional important levels

Today last price 105.32
Today Daily Change -0.12
Today Daily Change % -0.11%
Today daily open 105.44
Daily SMA20 105.42
Daily SMA50 105.78
Daily SMA100 106.42
Daily SMA200 107.4
Previous Daily High 105.49
Previous Daily Low 105.07
Previous Weekly High 106.11
Previous Weekly Low 105.28
Previous Monthly High 106.55
Previous Monthly Low 104
Daily Fibonacci 38.2% 105.33
Daily Fibonacci 61.8% 105.23
Daily Pivot Point S1 105.17
Daily Pivot Point S2 104.91
Daily Pivot Point S3 104.75
Daily Pivot Point R1 105.59
Daily Pivot Point R2 105.75
Daily Pivot Point R3 106.01



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 to stabilize around 1.1750

Fears keep ruling the financial boards as rising COVID-19 cases lead to fresh lockdowns across the Union, Germany included. Dollar correcting extreme overbought conditions.


GBP/USD falls below 1.30 amid fears of a UK lockdown, Brexit impasse

GBP/USD has dropped below 1.30 as the British government mulls a new lockdown to curb the spread of coronavirus. The pound is also pressured by the Brexit impasse.


XAU/USD hits fresh monthly lows near $1,870 and remains vulnerable

Gold is falling sharply and is down almost two percent, even after trimming losses. XAU/USD tumbled to $1,868/oz reaching the lowest level since late-September.

Gold News

Bank of Canada leaves policy rate unchanged at 0.25% as expected

In a widely expected decision, the Bank of Canada (BoC) announced on Wednesday that it left its key rate unchanged at 0.25% following its October policy meeting.

Read more

WTI bounces off lows near $37.00/bbl post-EIA

Prices of the WTI remain on the defensive albeit off lows. Demand concerns dragged prices to 3-week lows near $37.00. EIA reported an unexpected 4.3 mb build during last week.

Oil News