USD/JPY remains quite below 110.00 on USD weakness

USD/JPY prints minute gains on Monday the initial Asian trading hours.
US Dollar Index slips below 93.00 following Fed’s Powell speech.
Lower US Treasury yields augmented the downside for the US dollar.

Rekha Chauhan Independent Analyst

The USD/JPY pair remains on the higher edge in the Asian session. Despite the weakness in the greenback, USD/JPY manages to trade modestly higher as the Japanese Yen struggles to find demand on the domestic COVID-19 situation.

At the time of writing, USD/JPY is trading at 109.88, up 0.04 % for the day.

The US Dollar Index, which tracks the performance of the greenback against its six major rivals, trades below 93.00 with 0.42% losses as investors ditched the USD after FOMC Chair Jerome Powell’s comment.

The US 10-year benchmark Treasury yields trade lower at 1.31% with 2.50% losses.

On the other hand, the Japanese Yen remained on a lower track after the general improved risk sentiment.

Meanwhile, Bank of Japan’s (BOJ) policymaker said the outbreak of COVID-19 infections outpacing the expected pace of economic recovery,

As for now, investors wait for the Japanese Retails sales data, US Pending Home sales data to gauge the market sentiment.

USD/JPY additional levels

USD/JPY

Overview
Today last price	109.88
Today Daily Change	0.04
Today Daily Change %	0.04
Today daily open	109.84

Trends
Daily SMA20	109.83
Daily SMA50	110.15
Daily SMA100	109.66
Daily SMA200	107.68

Levels
Previous Daily High	110.27
Previous Daily Low	109.78
Previous Weekly High	110.27
Previous Weekly Low	109.41
Previous Monthly High	111.66
Previous Monthly Low	109.06
Daily Fibonacci 38.2%	109.97
Daily Fibonacci 61.8%	110.08
Daily Pivot Point S1	109.66
Daily Pivot Point S2	109.47
Daily Pivot Point S3	109.17
Daily Pivot Point R1	110.14
Daily Pivot Point R2	110.45
Daily Pivot Point R3	110.63

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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