- USD/JPY edges higher on Tuesday in the initial part of the Asian session.
- US Dollar Index remains steady above 92.60 despite lower US Treasury yields.
- The Japanese Yen manages to gain on its safe-haven appeal.
The USD/JPY pair prints minute gains on Tuesday in the early Asian trading hours. The pair tested the high of 110.16 in the US session but retraced back to 109.90 after the release of the US consumer’s inflation expectations, which jumped to 5.2% in August. At the time of writing, USD/JPY is trading at 110.02, up 0.02% for the day.
The US Dollar Index (DXY), which measures the performance of the greenback against its six major rivals trades above 92.60, diverging its path from the bond yields. This, in turn, keeps USD/JPY higher.
The greenback gained traction amid reduced risk appetite as a resurgence in COVID-19 cases in vaccinated countries, such as Britain and Singapore and on the heightened expectations that the Fed would start to reduce bond purchases as soon as November.
On the other hand, the Japanese yen holds ground benefiting from its safe-haven appeal. The optimism in the political front after Taro Kono formally announced his candidature to lead the ruling Liberal Democratic Party (LDP) in the upcoming elections.
Meanwhile, an earthquake of 6.1 magnitudes was felt in Japan with no tsunami warning.
It is worth noting that, S&P 500 Futures were trading at 4,468, up 0.23% for the day.
As for now, investors are waiting for the US Consumer Price Index and Japanese Industrial Production data to gauge the market sentiment.
USD/JPY additional levels
|Today last price||109.98|
|Today Daily Change||0.04|
|Today Daily Change %||0.04|
|Today daily open||109.94|
|Previous Daily High||109.99|
|Previous Daily Low||109.7|
|Previous Weekly High||110.45|
|Previous Weekly Low||109.62|
|Previous Monthly High||110.8|
|Previous Monthly Low||108.72|
|Daily Fibonacci 38.2%||109.88|
|Daily Fibonacci 61.8%||109.81|
|Daily Pivot Point S1||109.76|
|Daily Pivot Point S2||109.58|
|Daily Pivot Point S3||109.47|
|Daily Pivot Point R1||110.05|
|Daily Pivot Point R2||110.17|
|Daily Pivot Point R3||110.35|
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. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.