USD/JPY flirts with 109.00 amid mildly offered S&P 500 Futures, Japan holidays

  • USD/JPY trims intraday gains while easing from the day’s high.
  • S&P 500 Futures drop 0.20% after Wall Street’s mixed closing, lacklustre markets.
  • Japanese markets are off due to Greenery Day, risk catalysts in the focus.

USD/JPY teases intraday top of 109.17 while taking rounds to 109.15, up 0.07% on a day, amid Tuesday’s Asian session. Despite cheering the broad US dollar weakness the previous day, the risk barometer pair struggles for traction of late amid holidays in Japan.

Even so, the 0.20% declines of S&P 500 Futures seem to recently test the pair buyers. It should be noted that the Wall Street benchmarks closed mixed on Monday despite downbeat US Treasury yields and the US dollar.

While consolidation in the technology shares could be cited for the sluggish performance of the US equities, a lack of major data/events is likely behind the recent pullback in stock futures.

On Monday, upbeat comments from the US Federal Reserve (Fed) officials and chatters surrounding India’s coronavirus (COVID-19) conditions, not to forget vaccine arrival in Japan, favored market sentiment. However, the start of a three-day meeting among the Foreign Ministers of the Group of Seven industrialized nations (G7) may have joined the jump in numbers of the patients with the severe covid cases to weigh on, in addition to the aforementioned catalysts, the previous risk-on mood.

Moving on, US Factory Orders for March and chatters from the G7 meeting will be the key. The key nations are up for discussing ways to achieve a free and open Indo-Pacific and curb the coronavirus pandemic, per Japan’s Kyodo News. Additionally, the covid and vaccine developments will be important as well.

Technical analysis

A clear break above 21-day SMA, around 108.80, keeps USD/JPY buyers hopeful.

Additional important levels

Today last price 109.14
Today Daily Change 0.07
Today Daily Change % 0.06%
Today daily open 109.07
Daily SMA20 108.82
Daily SMA50 108.65
Daily SMA100 106.39
Daily SMA200 105.8
Previous Daily High 109.7
Previous Daily Low 108.9
Previous Weekly High 109.37
Previous Weekly Low 107.64
Previous Monthly High 110.85
Previous Monthly Low 107.48
Daily Fibonacci 38.2% 109.2
Daily Fibonacci 61.8% 109.39
Daily Pivot Point S1 108.74
Daily Pivot Point S2 108.42
Daily Pivot Point S3 107.94
Daily Pivot Point R1 109.54
Daily Pivot Point R2 110.02
Daily Pivot Point R3 110.35



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