USD/JPY: Listless below 110.00 amid risk-aversion

  • USD/JPY on the back foot amid US tariffs news led risk-off.
  • USD trades broadly weaker amid falling Treasury yields.
  • Focus on the US-China phase one trade deal signing ceremony.

USD/JPY trades modestly flat around 109.90 in the European morning, extending its 20-pips trading range below the 110 level.

Despite the range play, the bias leans towards the downside, as the demand for the safe-haven yen remains underpinned amid jittery markets.

Investors remain wary over the effectiveness of the US-China phase one trade deal, especially in light of the latest Bloomberg report that the US will not remove tariffs on Chinese imports until after the 2020 presidential election.

The cautious market mood can be indicated by the weakness in the US Treasury yields and S&P 500 futures that in turn weigh down on the US dollar when compared to its main competitors.

Adding to the souring risk sentiment are the fresh concerns over JCPOA deal amid a growing rift between the European Union (EU) and Iran. The focus now shifts towards the US Producer Price Index (PPI) data and trade deal signing (due at 1630 GMT) while markets shrugged off the Bank of Japan’s (BOJ) quarterly regional economic assessment report.

USD/JPY Technical levels to consider


Today last price 109.94
Today Daily Change -0.01
Today Daily Change % -0.01
Today daily open 109.96
Daily SMA20 109.17
Daily SMA50 109.04
Daily SMA100 108.42
Daily SMA200 108.59
Previous Daily High 110.21
Previous Daily Low 109.85
Previous Weekly High 109.69
Previous Weekly Low 107.65
Previous Monthly High 109.8
Previous Monthly Low 108.43
Daily Fibonacci 38.2% 110.08
Daily Fibonacci 61.8% 109.99
Daily Pivot Point S1 109.8
Daily Pivot Point S2 109.65
Daily Pivot Point S3 109.44
Daily Pivot Point R1 110.16
Daily Pivot Point R2 110.37
Daily Pivot Point R3 110.52



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