USD/JPY extends slide to the 108.50 area, heads for lowest close in two weeks


  • Yen gains on safe-haven flow amid concerns on Trump’s threat to impose new tariffs. 
  • US dollar drops against majors as US yields tumble. 

The USD/JPY stabilized around the 108.50 area after falling almost a hundred pips during the last two trading days. The bais still point to the downside despite oversold readings in technical indicators

Dollar drops as US yields react  

The pair lost the 109.00 area earlier today and continued to slide during the American session. It bottomed at 108.48, the lowest intraday level since November 21. Near the end of the day, it stands around 108.55, 120 pips below Monday’s top. 

The greenback remains under pressure against majors. US President Trump’s announcement of tariffs on Monday was followed by more threats on Tuesday, increasing market concerns. A deal between the US and China looks less likely now. 

US yields tumbled on Tuesday, finally reacting to the risk-off mood across financial markets, falling sharply. The 10-year yield dropped to 1.70%, the lowest in almost a month. In Wall Street, equity prices are falling for the second day in a row. The Dow Jones drops 1.30% and the Nasdaq 0.99%. 

Technical levels 
 

USD/JPY

Overview
Today last price 108.58
Today Daily Change -0.37
Today Daily Change % -0.34
Today daily open 108.95
 
Trends
Daily SMA20 108.96
Daily SMA50 108.45
Daily SMA100 107.77
Daily SMA200 108.91
 
Levels
Previous Daily High 109.73
Previous Daily Low 108.92
Previous Weekly High 109.67
Previous Weekly Low 108.63
Previous Monthly High 109.67
Previous Monthly Low 107.89
Daily Fibonacci 38.2% 109.23
Daily Fibonacci 61.8% 109.42
Daily Pivot Point S1 108.68
Daily Pivot Point S2 108.4
Daily Pivot Point S3 107.87
Daily Pivot Point R1 109.48
Daily Pivot Point R2 110.01
Daily Pivot Point R3 110.28

 

 

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