USD/JPY retreats from daily highs as US Treasury yields falls

USD/JPY print mild gains on the last trading day of the week.
US Dollar Index remains strong above 93.00 despite falling US Treasury yields.
The yen gains on its safe-haven appeal despite the concerns of the Delta variant.

Rekha Chauhan Independent Analyst

USD/JPY remains muted with minor gains on Thursday. A pullback correction in the US Treasury yields sponsored the downside performance of the pair.

At the time of writing, USD/JPY is trading at 109, up 0.02 % for the day.

The US Dollar Index, which tracks the performance of the greenback against its six major rivals, trades above 93.50 with 0.47 % gains.

The US 10-year benchmark Treasury yields slip to 1.24% as investors assessed the latest FOMC minutes and prospects of slower global growth. Comments from US Fed Chair Jerone Powell suggested that COVID-19 impact on the economy is not clear.

The US Initial Jobless Claims fell for the fourth straight week to 348K, below the market expectations of 363K.

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

The Reuters Tankan Sentiment Index for Manufacturers rose to 33 in August, its the highest reading since January 2018.

As for now, investors wait for the Japanese Inflation data to gauge the market sentiment.

USD/JPY additional levels

USD/JPY

Overview
Today last price	109.76
Today Daily Change	-0.01
Today Daily Change %	-0.01
Today daily open	109.77

Trends
Daily SMA20	109.88
Daily SMA50	110.18
Daily SMA100	109.67
Daily SMA200	107.48

Levels
Previous Daily High	110.07
Previous Daily Low	109.48
Previous Weekly High	110.8
Previous Weekly Low	109.55
Previous Monthly High	111.66
Previous Monthly Low	109.06
Daily Fibonacci 38.2%	109.84
Daily Fibonacci 61.8%	109.7
Daily Pivot Point S1	109.48
Daily Pivot Point S2	109.18
Daily Pivot Point S3	108.89
Daily Pivot Point R1	110.07
Daily Pivot Point R2	110.36
Daily Pivot Point R3	110.65

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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