- USD/JPY is currently down 0.4 percent on the day.
- The risk-off tone is pushing the anti-risk JPY higher.
- China data triggered fears of a global growth slowdown.
The Japanese yen is pushing higher against its American counterpart amid losses in the equity markets.
China reported a trade surplus for December 2018 mainly due to a slide in imports (domestic demand) and meager export growth (anemic global demand).
The mounting evidence of a slowdown in the world's second-largest economy and the global economy sent the Australian dollar and the Asian stock markets lower. As of writing, the S&P 500 futures are down 0.76 percent. Asian heavyweights like Nikkei, Kospi, Hang Seng, and the Shanghai Composite Index are all trading in the red.
That risk-off action is likely pushing the Japanese yen higher across the board. Notably, the USD/JPY pair has dropped more than 30 pips in the last four hours to a session low of 108.06 and may find acceptance under 108.00, as global growth fears are likely to reverberate through the financial markets in Europe and America.
USD/JPY Technical Levels
Today Last Price: 108.12
Today Daily change: -43 pips
Today Daily change %: -0.396%
Today Daily Open: 108.55
Previous Daily SMA20: 110.03
Previous Daily SMA50: 112
Previous Daily SMA100: 112.17
Previous Daily SMA200: 111.14
Previous Daily High: 108.6
Previous Daily Low: 108.14
Previous Weekly High: 109.09
Previous Weekly Low: 107.77
Previous Monthly High: 113.83
Previous Monthly Low: 109.55
Previous Daily Fibonacci 38.2%: 108.43
Previous Daily Fibonacci 61.8%: 108.32
Previous Daily Pivot Point S1: 108.26
Previous Daily Pivot Point S2: 107.97
Previous Daily Pivot Point S3: 107.8
Previous Daily Pivot Point R1: 108.72
Previous Daily Pivot Point R2: 108.89
Previous Daily Pivot Point R3: 109.18
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