USD/JPY to reach fresh monthly lows

USD/JPY remains under mild-pressure this Tuesday, as the market’s mood is sour, and was last seen trading in the 104.60 price zone. The pair is technically bearish in the near-term, poised to challenge the monthly low at 104.33, FXStreet’s Chief Analyst Valeria Bednarik reports.

Key quotes

“The looming US election, resurgent cases of coronavirus in Europe and the US and no progress in a US stimulus package are behind the investors’ apathy. The next week will be critical in terms of events and data. Meanwhile, equities trade in the red, extending their latest declines. US Treasury yields are also lower, in line with the USD/JPY slide.”

“USD/JPY seems poised to extend its decline, as it is trading near its monthly low at 104.33. The pair has slid below its 20 SMA, which is currently directionless around 104.75, while the larger moving averages maintain their bearish slopes far above the shorter one. Technical indicators, in the meantime, head lower, the Momentum within neutral levels but the RSI accelerating lower at around 38, favoring a downward extension for the upcoming hours.”


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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD is pressuring the 1.1400 threshold

EUR/USD hovers around the 1.1400 level, unable to attract market players in a quiet start to the week. Germany will publish the January ZEW Survey on Economic Sentiment on Tuesday. 


GBP/USD drops to fresh daily lows below 1.3650

After moving sideways a little below 1.3700 during the European session, GBP/USD lost its traction and fell to its lowest level in five days below 1.3650. In the absence of fresh fundamental catalysts on the MLK Day, the dollar continues to outperform its major rivals.


Gold hovering around $1,820 in a quiet start to the week

Spot gold seesaws around Friday’s close, with trading limited amid US markets closure due to Martin Luther King day. The dollar managed to advance modestly during the European session, resulting in the metal trimming early gains.

Gold News

Bitcoin, Ethereum, Shiba Inu and Dogecoin rank amongst the most popular cryptos

Based on a survey conducted by Huobi, Bitcoin, Ethereum, Shiba Inu, and Dogecoin are the top cryptocurrencies. Investors turn to cryptocurrencies for long-term investment potential. 

Read more

BOJ Preview: Raising its view on inflation, finally! Premium

At its first monetary policy meeting of 2022, the Bank of Japan (BOJ) is unanimously expected to keep its policy settings at the conclusion of its two-day review on January 18.

Read more