• 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

USD/JPY

Overview
Today last price 109.94
Today Daily Change -0.01
Today Daily Change % -0.01
Today daily open 109.96
 
Trends
Daily SMA20 109.17
Daily SMA50 109.04
Daily SMA100 108.42
Daily SMA200 108.59
 
Levels
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

 

 

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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news Join Telegram

Recommended content


Recommended content

Editors’ Picks

AUD/USD traders get set for this week's RBA key event

AUD/USD traders get set for this week's RBA key event

AUD/USD corrected from a key area on the charts on Friday with a test back through 0.64 the figure hardly left a mark on the downtrend that remains the bias for the start of the week and ahead of the Reserve Bank of Australia.

AUD/USD News

EUR/USD stays below 0.9800 after US inflation data

EUR/USD stays below 0.9800 after US inflation data

EUR/USD continues to trade in negative territory below 0.9800 in the American session on Friday. The data from the US showed that the annual PCE inflation declined to 6.2% in August but the stronger-than-expected core reading didn't allow the pair to gain traction.

EUR/USD News

Gold extends daily rally beyond $1,670

Gold extends daily rally beyond $1,670

Gold preserved its bullish momentum and rose above $1,670 after the mixed inflation data from the US on Friday. The benchmark 10-year yield is down more than 2% as markets look to wrap up the third quarter, fueling XAU/USD's daily rally. 

Gold News

Shiba Eternity download day the biggest bullish catalyst in SHIB history?

Shiba Eternity download day the biggest bullish catalyst in SHIB history?

Shytoshi Kusama, the project lead for Shiba Inu, has dropped a teaser about Shiba Eternity games for the SHIB community. Proponents expect the launch of the collectible card game to be a bullish catalyst for Shiba Inu price. 

Read more

SPDR S&P 500 ETF Trust (SPY) Forecast: We are teetering on the brink

SPDR S&P 500 ETF Trust (SPY) Forecast: We are teetering on the brink

Equity markets remain at the precipice of a technical collapse, which we examine in the weekly long-term chart below. The overall picture remains one of nervousness ahead of the upcoming Q3 earnings season.

Read more

Forex MAJORS

Cryptocurrencies

Signatures