USD/JPY off lows, but still below 10-DMA


Broad based US dollar retreat appears to have stalled over the last hours, allowing a tepid-bounce in USD/JPY back towards the mid-point of 113 handle, with strong offer seen lying at 10-DMA barrier of 113.54.

The spot is last seen exchanging hands at 113.44, reversing a dip to 113.33, session lows. The major found some support from dovish comments from the BOJ Governor Kuroda, after he said that the central bank is prepared to ease further, if required to hit 2% price target.

Earlier today, USD/JPY rapidly retreated from 113.72 highs after the US treasury yields came under pressure, following Cleveland Fed President Mester’s cautious comments on the rate hike outlook.

Next of note for the major remains the US existing home sales data, besides, Fed speech from official Powell will be closely heard ahead of the FOMC minutes scheduled for release in the American afternoon.

USD/JPY Technical levels to watch 

The major finds immediate resistance at 113.78 (previous top). A break above the last, the major could test 114 (round figure) and 114.36 (Feb 16 high) beyond the last. While to the downside, the immediate support is seen at 113.00 (round figure) next at 112.75 (Feb 20 low) and below that at 112.58 (Feb 17 low).

  TREND INDEX OB/OS INDEX VOLATILY INDEX
15M Bearish Neutral Expanding
1H Bullish Overbought High
4H Bullish Neutral Low
1D Bullish Overbought Low
1W Bullish Oversold Shrinking

 

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

Take advantage of market volatility with our daily Forex, Crypto and Indices Trade Ideas!

Become Premium!    

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD holds on to weekly gains, aims to 1.2100

EUR/USD pressures this week high at 1.2079 after the EU services sector moved back into expansion territory according to Markit, the first time since August.

EUR/USD News

GBP/USD extends decline towards the 1.3800 price zone

Upbeat UK data fell short of boosting the pound, hurt by Brexit jitters in Ireland. US macroeconomic figures making the difference in the dollar’s favor.

GBP/USD News

Bitcoin, Ethereum and XRP plummet, breaching critical support levels

Bitcoin price has dropped 12.7% since yesterday and shows no signs of stopping. Ethereum price follows the pioneer crypto’s lead and might retest $2,000 again. Unlike BTC or ETH, XRP price shows signs of recovery as long as it stays above a critical demand zone.

Read more

XAU/USD drops below $1,780 area as US T-bond yields rebound

Gold lost its traction after climbing toward $1,800 on Friday. 10-year US Treasury bond yield is up nearly 2%. Latest PMI data from US underlined strong price pressures.

Gold News

Bionano Genomics Inc runs into technical resistance, put options may work here

BNGO shares have continued to suffer post the retail meme crowd moving on. BNGO shares bounce from lows as DeMark buy signal flashes on Monday. BNGO shares trend up to resistance at 100 day moving average.

Read more

Forex MAJORS

Cryptocurrencies

Signatures