USD/JPY slumps below 104.40, closes in on multi-month lows

  • USD/JPY is falling for the fifth straight day on Friday.
  • 10-year US Treasury bond yield is down more than 1%.
  • US Dollar Index fluctuates in a tight range below 93.00.

The USD/JPY pair closed the fourth straight day in the negative territory on Thursday and stayed relatively quiet during the Asian session. However, with the markets remaining risk-averse, the pair extended its slide and touched its lowest level since late July at 104.28. With a break below 104.18, USD/JPY will renew its level since early March. At the moment, the pair is down 0.38% on a daily basis at 104.32.

JPY stays strong on safe-haven flows

In the absence of significant fundamental drivers, the risk perception continues to impact USD/JPY's movements. At the moment, the S&P 500 futures are flat on the day but the 10-year US Treasury bond yield is losing more than 1%. Meanwhile, the US Dollar Index stays relatively quiet below 93.00.

Earlier in the day, the data from Japan showed that the National Consumer Price Index edged lower to 0.2% and missed the market expectation of 0.6% but had little to no impact on the JPY's performance against its rivals.

In the second half of the day, the University of Michigan's Consumer Sentiment Index will be the only data featured in the US economic docket and investors are likely to remain focused on Wall Street's performance and T-bond yields' movements.

Technical levels to watch for


Today last price 104.36
Today Daily Change -0.38
Today Daily Change % -0.36
Today daily open 104.74
Daily SMA20 105.91
Daily SMA50 106.12
Daily SMA100 106.77
Daily SMA200 107.77
Previous Daily High 105.17
Previous Daily Low 104.52
Previous Weekly High 106.38
Previous Weekly Low 105.79
Previous Monthly High 107.05
Previous Monthly Low 105.1
Daily Fibonacci 38.2% 104.77
Daily Fibonacci 61.8% 104.93
Daily Pivot Point S1 104.45
Daily Pivot Point S2 104.16
Daily Pivot Point S3 103.8
Daily Pivot Point R1 105.1
Daily Pivot Point R2 105.46
Daily Pivot Point R3 105.75



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