USD/JPY makes a run for 110.00 as risk appetite swings back into the Monday markets


The USD/JPY is recovering nicely from the week's opening bearish gap.

Risk appetite swings higher ahead of a packed week that sees plenty of central bank action on both sides of the pond.

The USD/JPY is trading sharply higher in Monday action, lifting to 109.80 as traders resume bidding, undeterred by the weekend's G7 trade spat.

In case you missed it: Big week ahead - ING

The Dollar-Yen pairing is lifting off of last week's swing low to end last Friday as markets step into the new week on decidedly bullish footing, shaking off the weekend's trade developments following US President Trump's early departure from the weekend's G7 summit as the gap widens between Trump and the US' closest allies. Market participants are turning their backs on the news, choosing to focus on a busy week ahead that sees decisions from both the FOMC and the Bank of Japan (BoJ), which could see a rate hike from the US FOMC and a BoJ rate deicision where traders will be closely watching the BoJ for changes to the rhetoric in their monetary policy statement.

USD/JPY levels to watch

As noted by FXStreet's own Omkar Godbole, "The market does appear indecisive in 110.27-108.11 range. However, when viewed against the backdrop of the bearish outside-week candle, the bears appear to be in control, meaning the pair will likely find acceptance below 108.11 and extend losses to 107.32 (September 2017 low). If the pair manages to cross the 200-day MA, then the long-term descending trendline hurdle (drawn from August 2015 high and December 2015) could be put to test. Currently, the trendline resistance is located at 111.25. A weekly close above that level would signal a bullish breakout (long-term bearish-to-bullish trend change)."

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

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD treads water around 1.1600 after US data

EUR/USD continues to fluctuate in its daily range around 1.1600 as the latest data releases from the US failed to trigger a meaningful market reaction. New Home Sales in the US surged by 14% in September and consumer sentiment improved in October.

EUR/USD News

GBP/USD retreats to 1.3800 area as dollar holds its ground

GBP/USD advanced to a daily high of 1.3830 during the European session but reversed its direction in the second half of the day. With the upbeat US data helping the greenback find demand, the pair retreated to 1.3800 area. Eyes on Brexit headlines.

GBP/USD News

Gold extends daily slide below $1,800 on rising US T-bond yields, upbeat data

The bearish pressure surrounding gold remains intact in the American trading hours on Tuesday. Rising US Treasury bond yields and the modest USD strength continues to weigh on XAU/USD. 

Gold News

Three reasons why MATIC price will breakout to a new all-time high at $4.5

MATIC price is breaking out of an ascending triangle pattern, hinting at a 150% ascent. Transactional data shows barely any resistance level ahead for Polygon, suggesting a swift move higher. The Layer 2 solution has been at the center of DeFi evolution.

Read more

AMC entertainment gains as meme stock rally continues from previous week

NYSE:AMC gained 0.63% during Monday’s trading session. Meme stocks rally on Monday as momentum carries over from the previous week. AMC CEO Adam Aron hints that the company could be getting into the cryptocurrency business.

Read more

Forex MAJORS

Cryptocurrencies

Signatures