USD/JPY fails to conquer 110, goes into consolidation near 109.70


  • 10-year US T-bond yield erases Thursday's gains.
  • Wall Street looks to open in the negative territory.
  • US Dollar Index pushes higher toward 98.

After testing the critical 110 mark during the Asian session, the USD/JPY pair failed to gather strength and moved into the negative territory. As of writing, the pair was trading at 109.65, losing 0.18% on a daily basis.

Risk-aversion, once again, seems to be dominating the market action on Friday and allowing the JPY to outperform its rivals. China's foreign ministry earlier today said that they had no information on a Trump-Xi meeting at G20 summit in June. Following yesterday's decisive, more than 2%, gains, the 10-year US T-bond yield reversed its direction and was last down nearly 1% on the day to confirm the sour sentiment. Moreover, the S&P 500 Futures is losing 0.5% to suggest that Wall Street is likely to open the day lower.

On the other hand, major European currencies, such as the GBP and the EUR, are suffering losses against its rivals amid concerns over the probability of a no-deal Brexit increasing with the opposition Labour party and the British government failing to reach an agreement and allowing the greenback to find demand. 

The US Dollar Index, which touched a multi-week high of 97.95 earlier in the session, was last up 0.07% on the day at 97.90, keeping the pair's losses limited for the time being.

Technical levels to watch for

USD/JPY

Overview
Today last price 109.65
Today Daily Change -0.20
Today Daily Change % -0.18
Today daily open 109.85
 
Trends
Daily SMA20 110.87
Daily SMA50 111.1
Daily SMA100 110.5
Daily SMA200 111.44
Levels
Previous Daily High 109.97
Previous Daily Low 109.33
Previous Weekly High 110.96
Previous Weekly Low 109.46
Previous Monthly High 112.4
Previous Monthly Low 110.8
Daily Fibonacci 38.2% 109.73
Daily Fibonacci 61.8% 109.58
Daily Pivot Point S1 109.46
Daily Pivot Point S2 109.08
Daily Pivot Point S3 108.83
Daily Pivot Point R1 110.1
Daily Pivot Point R2 110.35
Daily Pivot Point R3 110.74

 

 

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

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!


Latest Forex News

Editors’ Picks

EUR/USD chops around amid end-of-month flows, ahead of Trump

EUR/USD is battling 1.11, close to the two-month highs amid choppy trading. Hopes for a fiscal boost in Europe and mixed satisfactory data have supported the currency pair. , Sino-American tensions are rising and investors await President Trump's China announcement.

EUR/USD News

GBP/USD advances amid US dollar weakness, shrugging off concerns

GBP/USD is trading above 1.23, edging higher amid US dollar weakness and Britain's gradual reopening. Intensifying Sino-American tensions and the Brexit impasse are ignored. 

GBP/USD News

Cryptocurrencies: $348M in matured derivatives boost the market

Futures and options contracts' expiration brings a wave of volatility to the crypto market. Ethereum takes advantage and attacks resistances in the market dominance chart, Bitcoin goes back. Ripple disappoints despite regaining the third place in market capitalization.

Read more

Canada's economy falls by 8.2% annualized in Q1, better than expected, USD/CAD shakes

The Canadian economy squeezed by an annualized rate of 8.2% in the first quarter of 2020, better than -10% expected. Quarterly, Gross Domestic Product (GDP) squeezed by 2.1%. Most of the downfall occurred in March, with a drop of 7.2%, better than 8.5% projected. 

Read more

WTI drops 4% and eyes $32 mark amid risk-off, weakening demand

The selling pressure around WTI (July futures on Nymex) accelerates following the break below the 33 level, as bears now target the 32 support zone heading into the key US macro data and US President Donald Trump’s response to the Hong Kong issue.

Oil News

Forex MAJORS

Cryptocurrencies

Signatures