USD/JPY Price Analysis: Greenback eases from December highs as Trump denies upbeat trade deal comments


  • USD/JPY is retracing in the New York session as Trump cast doubts about the US-China trade deal. 
  • Support is seen at the 109.29 and 108.95 price levels.
 

USD/JPY daily chart

 
USD/JPY is off the monthly highs above the 109.00 handle and the 200-day simple moving average (DMA). The yen is back on demand as US President Trump said that that the Wall Street Journal story on China deal is completely wrong.
 

USD/JPY four-hour chart

 
The market is pulling back after a strong bullish advance. The market is finding some support near the 109.29 level. Further ranges are expected into the end of the week. However, next week, it will be interesting to see if the bulls will attack the 109.74 resistance. A breakout above this level can see the spot spike towards the 110.13 and 110.54 levels, according to the Technical Confluences Indicator. Support is seen at the 109.29, 108.95 and 108.78 price levels, according to the Technical Confluences Indicator. 
   

Additional key levels

USD/JPY

Overview
Today last price 109.3
Today Daily Change -0.03
Today Daily Change % -0.03
Today daily open 109.33
 
Trends
Daily SMA20 108.87
Daily SMA50 108.64
Daily SMA100 107.83
Daily SMA200 108.8
 
Levels
Previous Daily High 109.45
Previous Daily Low 108.46
Previous Weekly High 109.73
Previous Weekly Low 108.43
Previous Monthly High 109.67
Previous Monthly Low 107.89
Daily Fibonacci 38.2% 109.07
Daily Fibonacci 61.8% 108.84
Daily Pivot Point S1 108.7
Daily Pivot Point S2 108.08
Daily Pivot Point S3 107.71
Daily Pivot Point R1 109.7
Daily Pivot Point R2 110.08
Daily Pivot Point R3 110.7

 

 

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

Editors’ Picks

EUR/USD hits two-month lows amid USD strength

EUR/USD has pared its gains that followed upbeat preliminary PMIs for Germany came out above expectations, pointing to a recovery. The USD is advancing amid fears of the coronavirus.

EUR/USD News

GBP/USD drops below 1.31 amid USD strength, fails to sustain PMI gains

GBP/USD is trading below  1.31 after hitting a fresh high of 1.3172. The UK Manufacturing PMI beat with 49.8 and Services PMI with 52.9. The USD is gaining ground across the board.

GBP/USD News

Cryptos: Bears take over and draw a bloody moon

Despite appearances, Bitcoin is the asset with the best risk/benefit ratio. The current falls are adjusted to the ranges of the previous rise. Downward momentum expires in the first half of February.

Read more

Gold rebounds above $1560

The XAU/USD pair dropped to a daily low of $1556.70 during the European trading hours as the easing worries over coronavirus becoming a global epidemic and a broad-based USD strength put the pair under bearish pressure.

Gold News

USD/JPY drops to two-week lows near 109.30

The USD/JPY pair reversed its direction during the American trading hours as the risk-off atmosphere allowed the JPY to find demand as a safe-haven.

USD/JPY News

Forex MAJORS

Cryptocurrencies

Signatures