USD/JPY falls to test December lows on a quiet day


Share:
  • Japanese Yen remains strong across the board.
  • US Dollar posts mixt results on a low volume session.
  • USD/JPY prints fresh daily lows at 130.61.

The USD/JPY is testing the December lows near 130.60, falling for the third day in a row on a quiet session with US markets closed. Price action remains limited across the FX board and the Yen is among the top performers.

The pair is falling for the third consecutive day and is approaching the December intraday low at 130.56. A slide below would put the USD/JPY at the lowest level since August 2. Last Friday, it posted the lowest daily close since early June.

The bias remains bearish for USD/JPY. A slide under 130.50 would expose the next support at 130.35 and then the 130.00. Earlier on Monday, the pair tested levels above 131.00 but it was rejected and pulled back. A consolidation above could trigger a deeper bullish correction. Only a break above 135.20 would change the current bearish short-term outlook to neutral/bullish.

Key data ahead

Wall Street is closed on Monday. On Tuesday, market activity will return to normal. The economic calendar shows key events ahead in the US with the FOMC minutes on Wednesday and the official US employment report on Friday. The employment numbers and the FOMC minutes will likely weigh on market expectations regarding monetary policy.

The USD/JPY lost more than 5% in December after losing 8.50% in November. The decline was helped by the change in the Bank of Japan's Yield Curve Control allowing a bigger price range in the 10-year JGB. Market participants saw that as a sign of a potential shift in BoJ's ultra-dovish monetary policy, reducing the divergence with the Fed.

Technical levels

USD/JPY

Overview
Today last price 130.68
Today Daily Change -0.59
Today Daily Change % -0.45
Today daily open 131.27
 
Trends
Daily SMA20 134.91
Daily SMA50 139.56
Daily SMA100 141.1
Daily SMA200 136.23
 
Levels
Previous Daily High 133.1
Previous Daily Low 130.78
Previous Weekly High 134.5
Previous Weekly Low 130.78
Previous Monthly High 138.18
Previous Monthly Low 130.57
Daily Fibonacci 38.2% 131.66
Daily Fibonacci 61.8% 132.21
Daily Pivot Point S1 130.34
Daily Pivot Point S2 129.4
Daily Pivot Point S3 128.02
Daily Pivot Point R1 132.65
Daily Pivot Point R2 134.03
Daily Pivot Point R3 134.97

 

 

Share: Feed news

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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended content


Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended content

Editors’ Picks

EUR/USD declines toward 1.0800 after US data

EUR/USD declines toward 1.0800 after US data

EUR/USD lost its bullish momentum and declined toward 1.0800 in the second half of the day on Thursday. The upbeat Jobless Claims and February PMI data from the US helps the US Dollar find demand and weighs on the pair.

EUR/USD News

GBP/USD drops below 1.2650 as USD rebounds

GBP/USD drops below 1.2650 as USD rebounds

GBP/USD reversed its direction and declined below 1.2650 after rising above 1.2700 earlier in the day. Renewed US Dollar strength on the back of better-than-forecast Jobless Claims and upbeat PMI data makes it difficult for the pair to keep its footing.

GBP/USD News

Gold stays below $2,030 as markets assess US data

Gold stays below $2,030 as markets assess US data

Gold is having a hard time preserving its bullish momentum and trading below $2,030 in the second half of the day on Thursday. The benchmark 10-year US Treasury bond yield holds steady near 4.3% after US data, not allowing XAU/USD to gain traction.

Gold News

XRP price declines with developments in SEC v. Ripple lawsuit

XRP price declines with developments in SEC v. Ripple lawsuit

XRP price dropped below $0.55 on Thursday as both Ripple and SEC work on remedy-related briefs. March 13 is the next key deadline for the SEC v. Ripple lawsuit.  

Read more

Nvidia drives global markets to records, as European stocks defy German economic gloom

Nvidia drives global markets to records, as European stocks defy German economic gloom

Markets are a sea of green after Nvidia’s earnings report has boosted global risk appetite and stock markets surging. Boost to Nvidia’s share price after another monster earnings report and super forecast has led to a collective relief rally across markets.

Read more

Forex MAJORS

Cryptocurrencies

Signatures