- Reuters says US-China trade deal could be delayed to December.
- 10-year US Treasury bond yield extends losses as market sentiment turns sour.
- US Dollar Index stays flat on the day below the 98 mark.
After spending the majority of the day moving sideways near the 109 handle, the USD/JPY pair came under strong bearish pressure in the last hour as the latest headlines surrounding the United States (US) - China trade conflict triggered fresh risk-off flows and allowed the JPY to find demand. As of writing, the pair was trading at 108.90, losing 0.22% on the day.
US-China trade agreement not a done deal
In an exclusive interview with Reuters, a senior Trump administration official said that the meeting between US President Trump and Chinese President Xi could be delayed until December amid ongoing discussions over terms and venue. "It's still possible the US-China trade pact will not be reached, but a deal is more likely than not," the official added.
The 10-year US Treasury bond yield extended its losses after this development and was last down nearly 2% on the day while Wall Street's three main indexes were down between 0.2% and 0.4%.
On the other hand, the greenback also took advantage of the dismal mood as a safer alternative to European currencies and limited the pair's losses. At the moment, the US Dollar Index is unchanged on the day at 97.91.
There won't be any macroeconomic data releases from Japan on Thursday and the market's risk perception is likely to continue to dominate the pair's price action.
Technical levels to watch for
|Today last price||108.86|
|Today Daily Change||-0.32|
|Today Daily Change %||-0.29|
|Today daily open||109.18|
|Previous Daily High||109.26|
|Previous Daily Low||108.5|
|Previous Weekly High||109.29|
|Previous Weekly Low||107.89|
|Previous Monthly High||109.29|
|Previous Monthly Low||106.48|
|Daily Fibonacci 38.2%||108.97|
|Daily Fibonacci 61.8%||108.79|
|Daily Pivot Point S1||108.7|
|Daily Pivot Point S2||108.22|
|Daily Pivot Point S3||107.94|
|Daily Pivot Point R1||109.46|
|Daily Pivot Point R2||109.74|
|Daily Pivot Point R3||110.22|
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.