USD/JPY moves back closer to multi-month tops, around 109.25-30 region

  • A modest pickup in the USD demand helped regain some traction.
  • The uptick seemed rather unaffected by renewed trade uncertainty.
  • Bulls even shrugged off a weaker tone surrounding the US bond yields.

The USD/JPY pair caught some fresh bids on Tuesday and has now moved well within the striking distance of multi-month tops set last week.
Having shown some resilience below the very important 200-day SMA, or the 109.00 handle in the previous session, the pair managed to regain some positive traction during the Asian session on Tuesday and was being supported by a modest pickup in the US Dollar demand.

Focus remains on trade developments

The uptick seemed rather unaffected by the mixed market mood amid political unrest in Hong Kong, which tends to underpin the Japanese Yen's safe-haven demand. Even renewed US-China trade uncertainty and a weaker tone surrounding the US Treasury bond yields did little to hinder the intraday positive momentum.
It is worth recalling that the US President Donald Trump said over the weekend that trade talks were going “very nicely,” but there was no agreement yet on rollback of existing tariffs. Hence, the key focus will be on Trump’s appearance at the New York Economic Club later this Tuesday.
In the meantime, a scheduled speech by the Fed Governor Richard Clarida might influence the USD price dynamics, which coupled with the broader market risk sentiment will also be looked upon to grab some short-term trading opportunities around the major.

Technical levels to watch


Today last price 109.27
Today Daily Change 0.22
Today Daily Change % 0.20
Today daily open 109.05
Daily SMA20 108.74
Daily SMA50 108.03
Daily SMA100 107.65
Daily SMA200 109.03
Previous Daily High 109.26
Previous Daily Low 108.9
Previous Weekly High 109.49
Previous Weekly Low 108.1
Previous Monthly High 109.29
Previous Monthly Low 106.48
Daily Fibonacci 38.2% 109.03
Daily Fibonacci 61.8% 109.12
Daily Pivot Point S1 108.88
Daily Pivot Point S2 108.71
Daily Pivot Point S3 108.52
Daily Pivot Point R1 109.24
Daily Pivot Point R2 109.43
Daily Pivot Point R3 109.6



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 falls below 1.1850 as US consumer sentiment beats

EUR/USD is trading under1.1850, off the previous levels as US consumer sentiment beat estimates with 78.9 points. The Fed refrained from adding more stimulus, supporting the dollar earlier in the week. Investors are eyeing fiscal stimulus talks.


GBP/USD falls as the EU reportedly objects Johnson's bill

GBP/USD is trading around 1.2950, off the highs. According to reports, the EU remains opposed to UK PM Johnson's controversial bill, which violates the Brexit accord. 


XAU/USD struggles to move back above 100-hour SMA

Gold regained some positive traction on the last trading day of the week and recovered a part of the previous day's losses to over one-week lows. The commodity held on to its intraday gains and traded above the $1950 level through the mid-European session.

Gold News

Ethereum hits Bitcoin's bid to lead the market

Bitcoin risks dominance after the strong rise of Ethereum. Technical indicators show some significant discrepancies keeping the stress on the board. Sentiment levels are improving and bordering on optimism.

Read more

After yesterday's JMMC meeting WTI settles near $40 per barrel

WTI has been through a rollercoaster this week. The liquid gold has been in a downtrend leading into the OPEC+ JMMC meeting and then reversed the whole move. At the meeting the group agreed to extend the compensation period for overproduction till the end of December. 

Oil News