USD/JPY refreshes daily high on stronger USD ahead of critical US data

USD/JPY continues to rise on Friday for the third second day.
US Dollar Index remains steady above 92.20 on mixed economic data, Fed’s hawkish comments.
The yen losses attractiveness as a record case of delta variant reported in Japan.

Rekha Chauhan Independent Analyst

USD/JPY extends gains in the initial Asian trading session on Friday. The upbeat movement in the US dollar sponsors the performance of the pair.

At the time of writing, USD/JPY is trading at 109.78, up 0.04 % for the day.

The US Dollar Index, which tracks the performance of the greenback against its six major rivals, trades near 92.30 with 0.04% gains.
The
The number of Americans filing new claims for unemployment benefits declined to 385k in July, broadly in line with market estimates of 384K whereas the US posted the largest trade deficit on record in June at $75.7 billion compared to $73.9 billion.

On the other hand, the Japanese yen lost ground after the head of the Japan Medical Association asked for a nationwide state of emergency.

Meanwhile, the au Jibun Bank Japan Services PMI came at 47.4 in July compared with market estimates of 46.4 in June. The pessimistic reading weighed upon the yen.

As for now, investors wait for US Nonfarm payrolls to gauge the market sentiment.

USD/JPY additional levels

USD/JPY

Overview
Today last price	109.76
Today Daily Change	0.27
Today Daily Change %	0.25
Today daily open	109.49

Trends
Daily SMA20	109.9
Daily SMA50	110.11
Daily SMA100	109.61
Daily SMA200	107.21

Levels
Previous Daily High	109.68
Previous Daily Low	108.72
Previous Weekly High	110.58
Previous Weekly Low	109.36
Previous Monthly High	111.66
Previous Monthly Low	109.06
Daily Fibonacci 38.2%	109.31
Daily Fibonacci 61.8%	109.09
Daily Pivot Point S1	108.92
Daily Pivot Point S2	108.34
Daily Pivot Point S3	107.96
Daily Pivot Point R1	109.87
Daily Pivot Point R2	110.25
Daily Pivot Point R3	110.82

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.

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.