USD/JPY retreats from 110.80 ahead of US data

  • USD/JPY pauses the gain after testing monthly highs near 110.80.
  • US Dollar Index skids below 93.00 upon disappointing CPI data.
  • The yen gains on its safe-haven appeal despite the concerns of the Delta variant.

After testing the recent highs on Wednesday, USD/JPY retreats in the Asian session on Thursday.  A pullback correction in the US dollar sponsored the downside performance of the pair.

At the time of writing, USD/JPY is trading at 110.43, up 0.02 % for the day.

The US Dollar Index, which tracks the performance of the greenback against its six major rivals, trades below 93.00 with 0.16% losses amid falling US Treasury yields.

The US 10-year benchmark Treasury yields slip to 1.33% after the US inflation rate came in accordance with the market expectations. The readings bolstered the narrative of stabilising concern of inflation and easing concerns about a pullback of Fed’s stimulus soon. 

The US Consumer Price Inflation (CPI) came at 5.4% in July, marginally above the market expectations of 5.3%.

Meanwhile, the comments from the Dallas Fed President Fed Kaplan weighed on the greenback. He said Fed should begin bond taper in October.

On the other hand, the Japanese yen gained on its safe-haven appeal even the coronavirus cases remained a concern for the economy.

As for now, investors wait for the US Initial Jobless Claims data to gauge the market sentiment.

USD/JPY additional levels


Today last price 110.42
Today Daily Change -0.14
Today Daily Change % -0.13
Today daily open 110.56
Daily SMA20 109.91
Daily SMA50 110.15
Daily SMA100 109.66
Daily SMA200 107.32
Previous Daily High 110.6
Previous Daily Low 110.28
Previous Weekly High 110.36
Previous Weekly Low 108.72
Previous Monthly High 111.66
Previous Monthly Low 109.06
Daily Fibonacci 38.2% 110.48
Daily Fibonacci 61.8% 110.4
Daily Pivot Point S1 110.36
Daily Pivot Point S2 110.16
Daily Pivot Point S3 110.04
Daily Pivot Point R1 110.68
Daily Pivot Point R2 110.8
Daily Pivot Point R3 111



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