USD/JPY retreats from six-day highs below 130.00


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  • USD/JPY back into negative territory after a spike following US data.
  • US PMI S&P Global recovers in January, still below 50.
  • US Dollar weakens during the American session amid risk appetite.

The USD/JPY spiked to 131.21, following the release of US economic data but then pulled back toward 130.00 as stocks turned positive on Wall Street. The improvement in risk sentiment weighed on the US dollar.

Data released on Tuesday showed the PMI S&P Global Manufacturing rose in January according to preliminary numbers from 46.2 to 46.8, above the 46.1 of market consensus. The Service index climbed from 44.7 to 46.6, surpassing expectations of 44.5. Immediately after the release, the US dollar peaked but only to retreat later.

In Wall Street, after a negative opening main indexes are flat. Risk appetite and a retreat in US yields pushed USD/JPY to the downside. The pair is testing levels under 130.00, looking at the daily low it hit on Asian hours at 129.72.

Again, the 20-day Simple Moving Average, currently at 130.90, capped the upside. The main trend is bearish although in the short term, the Dollar is correcting higher. It continues to be unable to hold above 131.00. If it manages to do so, a deeper recovery seems likely.

Technical levels

USD/JPY

Overview
Today last price 130.35
Today Daily Change -0.34
Today Daily Change % -0.26
Today daily open 130.69
 
Trends
Daily SMA20 131.01
Daily SMA50 134.62
Daily SMA100 139.99
Daily SMA200 136.73
 
Levels
Previous Daily High 130.89
Previous Daily Low 129.04
Previous Weekly High 131.58
Previous Weekly Low 127.22
Previous Monthly High 138.18
Previous Monthly Low 130.57
Daily Fibonacci 38.2% 130.19
Daily Fibonacci 61.8% 129.75
Daily Pivot Point S1 129.53
Daily Pivot Point S2 128.36
Daily Pivot Point S3 127.68
Daily Pivot Point R1 131.37
Daily Pivot Point R2 132.06
Daily Pivot Point R3 133.22

 

 

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