USD/JPY strung out in the middle at 113.50

Dollar-Yen pairing hung up in the middle as traders await broader market moves.
Risk appetite continues to skew to the middle as investors slowly digest current market risks.

Joshua Gibson FXStreet

USD/JPY is trading into 113.50, the mid-range of Friday's high/low as markets await further impetus to pull the trigger in either direction.

Risk appetite in the broader market continues to hang in the balance as investors remain trepidatious amidst broader fears of a global economic slowdown, while trader sentiment sees further hampering in the Pacific-Asia sector as US-China trade relations continue to thread the needle between stalemate and souring.

The Japanese Yen saw declines last week as the US Dollar rose near-term lows above the 112.00 handle, but bullish momentum for the USD/JPY pair remains capped beneath recent swing highs, and a soft-descending trendline at swing highs is currently pricing in as resistance as overall market sentiment sees drives into safe havens like the Yen limiting risk-on gains in the greenback.

USD/JPY Technical Levels

USD/JPY

Overview:
    Today Last Price: 113.46
    Today Daily change: 7.0 pips
    Today Daily change %: 0.0617%
    Today Daily Open: 113.39
Trends:
    Previous Daily SMA20: 113.2
    Previous Daily SMA50: 113
    Previous Daily SMA100: 112.37
    Previous Daily SMA200: 110.76
Levels:
    Previous Daily High: 113.7
    Previous Daily Low: 113.2
    Previous Weekly High: 113.71
    Previous Weekly Low: 112.24
    Previous Monthly High: 114.25
    Previous Monthly Low: 112.3
    Previous Daily Fibonacci 38.2%: 113.39
    Previous Daily Fibonacci 61.8%: 113.51
    Previous Daily Pivot Point S1: 113.16
    Previous Daily Pivot Point S2: 112.94
    Previous Daily Pivot Point S3: 112.67
    Previous Daily Pivot Point R1: 113.65
    Previous Daily Pivot Point R2: 113.92
    Previous Daily Pivot Point R3: 114.14

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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