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

USD/JPY

Overview:
    Today Last Price: 108.12
    Today Daily change: -43 pips
    Today Daily change %: -0.396%
    Today Daily Open: 108.55
Trends:
    Previous Daily SMA20: 110.03
    Previous Daily SMA50: 112
    Previous Daily SMA100: 112.17
    Previous Daily SMA200: 111.14
Levels:
    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

 

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.