USD/JPY tracks equities lower, hits session lows near 108.00

  • 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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