USD/JPY holds steady, up little around mid-109.00s


  • USD/JPY looks to build on the overnight bounce from two-week lows.
  • Improving risk sentiment, a modest USD uptick remained supportive.
  • The upside remains capped amid concerns over China’s coronavirus.

The USD/JPY pair edged higher on the last trading day of the week and moved further away from two-week lows set in the previous session.

The pair extended its recent retracement slide from multi-month tops and witnessed some follow-through weakness for the third consecutive session on Thursday. Concerns over China's coronavirus outbreak continued benefitting the Japanese yen's perceived safe-haven status and turned out to be one of the key factors behind the pair's ongoing slide.

Bulls refrain from placing aggressive bets

The pair, however, managed to find some support ahead of 50-day SMA and a combination of factors provided an additional lift during the Asian session on Friday. A slight improvement in the global risk sentiment allowed the US Treasury bond yields to gain some positive traction, which eventually underpinned the US dollar demand and led to the pair's modest uptick.

On the economic data front, Japan's core consumer price index (CPI) rose 0.7% YoY in December as compared to a 0.5% rise in the previous month. Meanwhile, the headline CPI rose 0.8% and surpassed forecast of 0.4% by a big margin. Adding to this, the flash version of the Japanese Manufacturing PMI also bettered market expectations and kept a lid on the pair's attempted recovery.

Moving ahead, the broader market risk sentiment and the USD price dynamics might continue to play a key role in influencing the pair's momentum on Friday. Later during the early North-American session, the release of flash US Manufacturing and Services PMI will also be looked upon to grab some short-term trading opportunities.

Technical levels to watch

USD/JPY

Overview
Today last price 109.53
Today Daily Change 0.04
Today Daily Change % 0.04
Today daily open 109.49
 
Trends
Daily SMA20 109.34
Daily SMA50 109.17
Daily SMA100 108.67
Daily SMA200 108.52
 
Levels
Previous Daily High 109.9
Previous Daily Low 109.26
Previous Weekly High 110.3
Previous Weekly Low 109.46
Previous Monthly High 109.8
Previous Monthly Low 108.43
Daily Fibonacci 38.2% 109.51
Daily Fibonacci 61.8% 109.66
Daily Pivot Point S1 109.21
Daily Pivot Point S2 108.92
Daily Pivot Point S3 108.57
Daily Pivot Point R1 109.84
Daily Pivot Point R2 110.19
Daily Pivot Point R3 110.47

 

 

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

Latest Forex News

Editors’ Picks

AUD/USD following higher than expected Aussie Unemployment Rate

AUD/USD fails to cheer an increase in Employment Change. The pair declines to 0.6678 after flashing the intra-day low of 0.6668 as Australia’s employment data disappoints Aussie traders on early Thursday.

AUD/USD News

USD/JPY bulls catch a breath near multi-month top, stays above 111.00

USD/JPY seesaws around 111.30 at the start of Asian session. The risk barometer surged to the highest in nine months the previous day as Chinese authorities manage to placate traders. The pair consolidates gains following FOMC minutes.

USD/JPY News

Gold breaks to near 7-year highs amid coronavirus fears, next target is $1,617

Gold prices have extended their gains and have topped $1,611.42, the previous 2020 peak. XAU/USD is now trading at the highest levels since March 2013. Back then, it hit a high of $1,617, which is the next upside target.

Gold News

WTI upside remains capped by $53.00 ahead of API

WTI oil stays upbeat, following the run-up to the monthly high before a few minutes, as taking rounds to $53.70 amid the initial Asian session on Thursday. The black gold recently benefited from the weekly inventory data from the API.

Oil News

FXStreet launches Real-Time Trading Signals

FXStreet Signals offers access to explanatory live webinars, real-time notifications when signals are triggered and exclusive membership to the company’s Telegram group, where users get direct guidance by our analysts and get room to discuss and interact.

More info

Forex MAJORS

Cryptocurrencies

Signatures