USD/JPY moves toward 110.00 amid stronger USD

USD/JPY recovers from the previous session’s decline on Thursday..
US Dollar Index remains steady near 93.00 despite dismal economic data.
The Yen gains losses grounds on renewed coronavirus concerns.

Rekha Chauhan Independent Analyst

The USD/JPY pair edges higher in the middle of the week in the initial Asian trading hour. After testing fresh daily lows near 109.10 in the overnight session, USD/JPY bounce back above 109.50.

At the time of writing, USD/JPY is trading at 109.60, up 0.03 % for the day.

The US Dollar Index (DXY), which tracks the performance of the greenback against its six major rivals, trades higher above 92.70 with 0.13% gains amid falling US Treasury yields.

The benchmark 10-year Treasury yields remain lower at 1.24% following weaker Retails Sales data. The readings fell 1.1% in July as compared to the market consensus of 0.3% drop.

Meanwhile, US Federal Reserve Chairman Jerome Powell warned about the recent surge in the impact of the COVID-19 case on the US economy. The greenback remained unfazed by the comments.

On the other hand, the Japanese yen gains were evaporated on the rising of the Delta variant of the coronavirus.

As for now, investors wait for the Japanese Merchandise Trade Balance data, the US Building Permits, and Housing Starts to gauge the market sentiment.

USD/JPY additional levels

USD/JPY

Overview
Today last price	109.78
Today Daily Change	0.20
Today Daily Change %	0.18
Today daily open	109.59

Trends
Daily SMA20	109.91
Daily SMA50	110.17
Daily SMA100	109.68
Daily SMA200	107.46

Levels
Previous Daily High	109.66
Previous Daily Low	109.12
Previous Weekly High	110.8
Previous Weekly Low	109.55
Previous Monthly High	111.66
Previous Monthly Low	109.06
Daily Fibonacci 38.2%	109.45
Daily Fibonacci 61.8%	109.32
Daily Pivot Point S1	109.25
Daily Pivot Point S2	108.91
Daily Pivot Point S3	108.71
Daily Pivot Point R1	109.79
Daily Pivot Point R2	109.99
Daily Pivot Point R3	110.33

Author

Rekha Chauhan

Independent Analyst

Rekha Chauhan has been working as a content writer and research analyst in the forex and equity market domain for over two years.

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