USD/JPY fades spike to fresh 2019 high, back below 112.00


  • USD/JPY hit a fresh year-to-date high of 112.17 earlier today. So far, however, the follow-through has been weal.
  • The pair has fallen back below 112.00, despite an above-forecast China macro data. The futures on the S&P 500 and treasury yields are also struggling to cheer China data.

USD/JPY is currently trading at 111.95, having hit a 2019 high of 112.17 earlier today.

The lack of strong follow-through has weakened the bullish case put forward by Friday's convincing move above 111.82 (April 5 high).

Also, the pair's inability to hold above 112.00 is somewhat surprising as China's first quarter GDP data and March industrial production and retail sales figure released earlier today was risk-supportive.

That said, the futures on the S&P 500 have also failed to pick up a strong bid in response to China data. At press time, the futures are trading at 2,913, representing just 0.08 percent gain on the day. Further, the 10-year treasury yield is also flatlined on the day near 2.6 percent.

Looking forward, the currency pair may find acceptance below the key support at 111.82 if the European equities ignore upbeat China data and trade in the red, boosting demand for the anti-risk JPY. In the US session, the focus would be on the US' trade balance for February, Fed's Bullard speech, and Fed's Beige Book.

Technical Levels

USD/JPY

Overview
Today last price 111.97
Today Daily Change -0.03
Today Daily Change % -0.03
Today daily open 112
 
Trends
Daily SMA20 111.14
Daily SMA50 111.05
Daily SMA100 110.84
Daily SMA200 111.52
Levels
Previous Daily High 112.05
Previous Daily Low 111.85
Previous Weekly High 112.1
Previous Weekly Low 110.84
Previous Monthly High 112.14
Previous Monthly Low 109.71
Daily Fibonacci 38.2% 111.93
Daily Fibonacci 61.8% 111.97
Daily Pivot Point S1 111.88
Daily Pivot Point S2 111.76
Daily Pivot Point S3 111.67
Daily Pivot Point R1 112.09
Daily Pivot Point R2 112.17
Daily Pivot Point R3 112.29

 

 

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.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD consolidates losses as Fed moderates message

EUR/USD is trading above 1.1350, consolidating losses. The Fed's Bullard and Chair Powell have conveyed a balanced message, boosting the greenback. Treasury Secretary Mnuchin said 90% of the deal with China is done.

EUR/USD News

GBP/USD trades below 1.2700

GBP/USD is trading below 1.2700. BOE Gov. Carney said the BOE may cut rates in case of a no-deal Brexit. Boris Johnson has rattled markets by saying leaving the EU by October 31st is "do or die."

GBP/USD News

USD/JPY sticks to gains near 107.70, looks to snap 7-day losing streak

Following the sharp upsurge witnessed during the European trading hours, the USD/JPY pair has gone into a consolidation phase and is now moving in a relatively tight range in the upper half of its daily trading range.

USD/JPY News

Gold finds some support near $1400 mark, lacks follow-through

Gold held on to its weaker tone through the early North-American session, albeit pared a part of its intraday slide to the $1400 neighbourhood post-US economic data.

Gold News

EIA: Crude inventories decreased by 12.8 million barrels, WTI inches closer to $60

In its weekly petroleum report for the week ending June 21, the Energy Information Administration (EIA) announced that the commercial crude oil inventories in the United States decreased by 12.8 million barrels from the previous week. 

Read more

Majors

Cryptocurrencies

Signatures