USD/JPY extends slide to fresh two week lows near 109.00

  • USD/JPY continues to push lower in early American session.
  • USD struggles to find demand after Initial Jobless Claims data.
  • 10-year US T-bond yield is losing more than 1% on Thursday.

The USD/JPY extended its daily slide in the early American session and touched its lowest level in two weeks at 109.00. As of writing, the pair was down 0.7% on a daily basis at 109.08.

DXY edges lower toward 92.00

The selling pressure surrounding the greenback seems to be weighing on USD/JPY on Thursday. After the data published by the US Department of Labor showed that the weekly Initial Jobless Claims rose to 744,000, compared to analysts' estimate of 680,000, the US Dollar Index (DXY) dropped to a daily low of 92.14. At the moment, the DXY is losing 0.28% at 92.17.

Furthermore, the benchmark 10-year US Treasury bond yield is falling 1.7% on the day, ramping up the bearish pressure on USD/JPY.

In the meantime, Wall Street's main indexes look to open in the positive territory with the S&P 500 Futures rising 0.3%. If risk flows start to dominate financial markets in the second half of the day, the JPY could have a hard time preserving its strength and limit USD/JPY's downside. Later in the day, St. Louis Fed President James Bullard, Minneapolis Fed President Neel Kashkari and FOMC Chairman Jerome Powell and will be delivering speeches.

Technical levels to watch for


Today last price 109.03
Today Daily Change -0.82
Today Daily Change % -0.75
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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