USD/JPY is thrown around on interpretations of Ukraine's Feb 16 Russian invasion

USD/JPY round turns on conflicting Ukraine headlines driving risk sentiment.
World leaders will engage in high stake meetings this week over the threat of the Russian invasion.
Fed sentiment coming through as hawkish Fed speakers advocate 50bps hike in March.

Ross J Burland FXStreet

USD/JPY is back on the bid following a series of information that is crossing the wires with regards to the prospects of a Russian invasion. In recent trade, the President of Ukraine Volodymyr Zelensky was reported to have said that the Ukraine “has been informed” that Wednesday, February 16 “will be the day of the attack”. This sent the yen higher and financial markets into risk-off mode again:

Markets flip risk-off as Ukraine's President Zelensky cites 16 Feb. as day of Russia attack

However, as the chart illustrates above, the price turned on a dime when a senior Ukrainian official denied that President Zelensky was being literal when he said in an address to the nation that he'd been told a Russian attack would begin on February 16th. Mykhailo Podoliak, a Presidential adviser, said that Zelensky was being ironic. Meanwhile, the risk is very real and markets are on high alert and on tenterhooks. The yen stands to benefit from risk aversion, especially through crosses such as AUD/JPY. Traders will be waiting for leaders to meet, with the French president visiting Moscow and the US president meeting with the Zelensky at the White House on Wednesday.

As for other fundamental drivers, the US dollar index reached a two-week high on Monday, as St. Louis Federal Reserve President James Bullard reiterated calls for a faster pace of U.S. Federal Reserve interest rate hikes. Bullard on Monday also said that four strong inflation reports in a row warranted action. Last week's stronger-than-expected US Consumer Price index report has driven speculation the Fed might raise rates by a full 50 basis points in March.

USD/JPY

Overview
Today last price	115.66
Today Daily Change	0.37
Today Daily Change %	0.32
Today daily open	115.29

Trends
Daily SMA20	114.82
Daily SMA50	114.61
Daily SMA100	114
Daily SMA200	111.95

Levels
Previous Daily High	116.18
Previous Daily Low	115.02
Previous Weekly High	116.34
Previous Weekly Low	114.91
Previous Monthly High	116.35
Previous Monthly Low	113.47
Daily Fibonacci 38.2%	115.46
Daily Fibonacci 61.8%	115.73
Daily Pivot Point S1	114.81
Daily Pivot Point S2	114.34
Daily Pivot Point S3	113.66
Daily Pivot Point R1	115.97
Daily Pivot Point R2	116.65
Daily Pivot Point R3	117.13

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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