USD/JPY stays calm near 108 ahead of US data

  • 10-year US T-bond yield rises for the fifth straight day on Friday.
  • China excludes agricultural products from additional tariffs on US goods.
  • Coming up: US Retail Sales and Consumer Confidence data.

After closing the previous day above the 108 handle, the USD/JPY rose to its highest level since August 1 at 108.26 boosted by the upbeat market sentiment amid hopes of the US-China trade dispute coming to an end in next months high-level talks in Washington. However, the broad-based selling pressure surrounding the USD didn't allow the pair to extend its rally during the European trading hours. As of writing, the pair was down 0.07% on the day at 108.02.

Market sentiment improves on trade headlines

Commenting on reports claiming Trump administration was considering to offer China an interim trade deal, US President Donald Trump said that he'd rather get a "whole deal" done with China rather than an interim one. Furthermore, China’s State Council today announced that they will exclude some agricultural products including soybeans and pork from additional tariffs on US imports to further boost the optimism.

The 10-year US Treasury bond yield, which closed every day of this week in the positive territory, preserved its momentum and advanced to its highest level since August 5 to reflect the upbeat market sentiment. Meanwhile, the S&P 500 Futures is up 0.35% on the day, suggesting that Wall Street's main indexes are likely to start the day in the positive territory.

On the other hand, the Greenback's dismal performance against its European counterparts makes it difficult for the pair to stretch higher. Ahead of the Retail Sales and the University of Michigan Consumer Confidence data from the US, the US Dollar Index is down 0.3% on the day at 98.05.

Technical levels to watch for


Today last price 1.3224
Today Daily Change 0.0012
Today Daily Change % 0.09
Today daily open 1.3212
Daily SMA20 1.3263
Daily SMA50 1.32
Daily SMA100 1.3279
Daily SMA200 1.3314
Previous Daily High 1.3222
Previous Daily Low 1.3176
Previous Weekly High 1.3384
Previous Weekly Low 1.3158
Previous Monthly High 1.3346
Previous Monthly Low 1.3178
Daily Fibonacci 38.2% 1.3204
Daily Fibonacci 61.8% 1.3194
Daily Pivot Point S1 1.3185
Daily Pivot Point S2 1.3158
Daily Pivot Point S3 1.314
Daily Pivot Point R1 1.323
Daily Pivot Point R2 1.3248
Daily Pivot Point R3 1.3275



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.

Feed news

Latest Forex News

Editors’ Picks

AUD/USD: Buyers and sellers jostle around 0.6600 as coronavirus keeps the driver’s seat

AUD/USD carries the New York session’s downbeat sentiment forward while taking rounds to 0.6600 at the start of the Asian session on Wednesday. While the coronavirus-led risk-off keeps the risk barometer under pressure, weakness in the US dollar restricted the pair’s losses.


USD/JPY consolidates losses but bears keep the baton amid coronavirus fears

USD/JPY consolidates losses to 110.20 amid the initial Asian session on Wednesday. That said, the pair portrayed the broad risk-off, led-by coronavirus fears, while declining for the third day in a row during the previous day.


Dollar domination set to continue, with or without coronavirus fears

The coronavirus-related fall in US bond yields has been weighing on the US dollar. Nevertheless – and despite worries coming from Markit's PMIs – the greenback is set to gain more ground.

Read more

Gold: Pares early losses, still in the red below $1650 level

Gold extended previous day's intraday retracement slide from multi-year tops and witnessed some follow-through long-unwinding trade on Tuesday.

Gold News

FXStreet launches Real-Time Trading Signals

FXStreet Signals offers access to explanatory live webinars, real-time notifications when signals are triggered and exclusive membership to the company’s Telegram group, where users get direct guidance by our analysts and get room to discuss and interact.

More info