- US Dollar weakens again across the board but holds steady against Japanese Yen.
- USD/JPY trapped in a small range near two-month highs.
The USD/JPY erased all the losses that followed the US Retail Sales report, and it trades at 108.75/80, flat for the day and off lows. The pair is following US equity prices and remains supported by the improvement in risk sentiment over the last days and the rebound in yields.
Data not helping US Dollar
On a quiet session so far, excluding GBP’s crosses, the USD/JPY is trapped in a 30-pip range. It peaked earlier today at 108.85 and bottomed after the release of US data at 108.55. It holds close to the two-month high it reached yesterday at 108.89.
Retail sales in September dropped for the first time in seven months showing numbers below expectations. The Greenback fell across the board after the report but modestly. Attention continues to be on trade talks between the US and China and the Brexit negotiations. Later today, there will be a briefing from the European Union, around 17:00 GMT.
After yesterday’s breakout above 108.50, the USD/JPY holds bullish bias. Now the next strong resistance is seen around 109.00, followed by 109.25/30. If the pair drops below 108.45, the bullish pressure will likely ease. Below support levels might lie at 108.15 and 107.75.
|Today last price||108.82|
|Today Daily Change||-0.04|
|Today Daily Change %||-0.04|
|Today daily open||108.86|
|Previous Daily High||108.9|
|Previous Daily Low||108.15|
|Previous Weekly High||108.63|
|Previous Weekly Low||106.65|
|Previous Monthly High||108.48|
|Previous Monthly Low||105.74|
|Daily Fibonacci 38.2%||108.62|
|Daily Fibonacci 61.8%||108.44|
|Daily Pivot Point S1||108.38|
|Daily Pivot Point S2||107.89|
|Daily Pivot Point S3||107.63|
|Daily Pivot Point R1||109.12|
|Daily Pivot Point R2||109.38|
|Daily Pivot Point R3||109.87|
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.