USD/JPY: Market stays away from the greenback

The USD/JPY pair trades marginally higher for the day, ranging around the 107.50 Fibonacci level as optimism on economic growth is leading the markets today, FXStreet’s Chief Analyst Valeria Bednarik reports.

Key quotes

“Safe-haven assets are under pressure, with the dollar being the worst performer, although adding some ground against the Japanese yen. There was no particular catalyst behind the upbeat mood, but optimism from Chinese authorities about an economic rebound, given the latest macroeconomic figures.”

“The continuation of the ongoing upbeat sentiment will depend on US data to be out later today. The country will publish today the official ISM Non-Manufacturing PMI, foreseen in June at 50 from 45.4 in the previous month.”

“A neutral stance persists in the short-term and according to the 4-hour chart, although the bearish potential seems limited. The USD/JPY pair is battling with a directionless 200 SMA, while above the shorter ones. Technical indicators, in the meantime, head nowhere just above their midlines.”


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

Latest Forex News

Editors’ Picks

EUR/USD: At risk of extending its slide

The greenback closed the week appreciating against most major rivals, although EUR/USD settled in the 1.1780 price zone, holding on to modest weekly gains. EUR/USD decline corrective on the broader view but could extend its slump in the shorter-term.


GBP/USD: Limited bearish potential

The GBP/USD pair finished the week with modest losses at 1.3050, giving up to the dollar’s demand at the end of the week. The Cable is trading above the 1.3000 level, which limits the bearish potential.


Gold: Acceptance above $2050 critical to revive the uptrend

Gold’s record-breaking rally could resume on a sustained move above $2050. RSI on 4H chart stays in the bullish territory, pointing to the upside. XAU bulls to buy the dips around $2010 in the week ahead?

Gold News

Bitcoin may extend the recovery once Gold resumes the rally

Gold retreated from the recent highs, but the sentiments are still bullish. Cryptocurrencies resumed the upside, some altcoins are demonstrating strong gains. ETH/BTC stopped the downside correction and settled at $0.03300.

Read more

WTI extends slide toward $41, on track to post weekly gains

Crude oil prices continued to fall on Friday and the barrel of West Texas Intermediate (WTI) touched a daily low of $41.05 before recovering modestly.

Oil News