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.

AUD/USD edges higher as hot CPI inflation and hawkish RBA lift rate hike bets

The AUD/USD pair gathers strength to near 0.7035 during the Asian trading hours on Friday. The Australian Dollar edges higher against the US Dollar as hotter Australian CPI inflation data has bolstered expectations of Reserve Bank of Australia rate hikes.

USD/JPY meets support near 157.00

USD/JPY retreats for the third consecutive day on Friday, revisiting the 157.00 region before attempting some recovery as investors continue to assess the latest BoJ meeting, where the central bank left rates unchanged, as widely anticipated.

Gold sinks to fresh yearly lows despite risk-off mood as Fed rate hike bets weigh

Gold slips to fresh year-to-date lows on Friday. The metal struggles despite a risk-off mood across markets, as expectations of further Federal Reserve (Fed) interest rate hikes continue to dominate price action, leaving Gold on track to end the month in negative territory.

Ripple Price Forecast: XRP bulls defend $1.20 as sell-side pressure triggers liquidations

Ripple (XRP) trades around $1.25 on Friday, rising from a short-term support level established at $1.20. This minor upward correction follows a sharp sell-off, triggered amid reports of a hack attack on the Binance exchange that impacted approximately $6.3 billion. The attack drove the broader crypto market on edge, as Binance suspended both deposits and withdrawals to contain the situation.

BoJ recap: A pause for now... but Japan has entered a new inflation phase

The Bank of Japan left its short-term policy rate unchanged at 1.25% but delivered a distinctly hawkish message on the risk of an inflation overshoot. The decision passed by 8-1, with board member Takata dissenting in favour of an increase to 1.5%, while Governor Kazuo Ueda stressed that the Bank would continue adjusting policy as needed.

A hot US economy is supposed to sink Gold. It didn't. Here's why

Gold (XAU/USD) remains under pressure near $4,000, as stronger-than-expected United States (US) economic data reinforce expectations of another Federal Reserve (Fed) interest rate hike in December. Economic growth is accelerating, inflation remains elevated, and borrowing costs could rise further.