USD/JPY trades in the negative territory below 108.50

  • 10-year US Treasury bond yield consolidates this week's gains.
  • Wall Street looks to open the day modestly higher.
  • US Dollar Index posts small losses near the 97 mark.

The USD/JPY pair is trading in a tight range on Friday and struggles to set its next short-term direction as the rising US Treasury bond yields make it difficult for the JPY to find demand and take advantage of the broad USD weakness. Reflecting the neutral outlook, the pair stays flat on the weekly chart and was last seen trading at 108.30, losing 0.15% on the day.

After falling for eight straight weeks and slumping to its lowest level since November 2016 below the 2% mark last week, the 10-year US Treasury bond yield staged a strong recovery that started last Friday on the back of upbeat employment figures and rose nearly 9% since then, weighing on the traditional safe-haven assets such as the JPY.

On the other hand, FOMC Chairman Powell's cautious remarks earlier this week forced the dollar to weaken against its major rivals and dragged the US Dollar Index below the 97 mark. Although the DXY gained traction and retraced a small portion of its losses after yesterday's inflation report showed that the core Consumer Price Index rose to 2.1% on a yearly basis in June to beat the market expectation of 2%, it struggled to preserve its momentum and didn't allow the pair to turn north.

Later in the session, the Producer Price Index (PPI) data from the U.S. will be looked upon for fresh impetus. Moreover, investors will be paying attention to Wall Street's performance. The modest gain seen in the S&P 500 Futures hints that major indexes are likely to start the day in the positive territory.

Technical levels to watch for


Today last price 108.32
Today Daily Change -0.17
Today Daily Change % -0.16
Today daily open 108.49
Daily SMA20 108.06
Daily SMA50 108.86
Daily SMA100 110.11
Daily SMA200 110.8
Previous Daily High 108.54
Previous Daily Low 107.86
Previous Weekly High 108.64
Previous Weekly Low 107.53
Previous Monthly High 108.8
Previous Monthly Low 106.78
Daily Fibonacci 38.2% 108.28
Daily Fibonacci 61.8% 108.12
Daily Pivot Point S1 108.06
Daily Pivot Point S2 107.62
Daily Pivot Point S3 107.38
Daily Pivot Point R1 108.73
Daily Pivot Point R2 108.97
Daily Pivot Point R3 109.41



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.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD extends gains to fresh seven-week highs

The American dollar is under selling pressure amid a better market mood. EUR/USD above 1.1140 ahead of several Fed’s speakers that can rock markets.


GBP/USD trades around 1.29 amid speculation of Brexit vote

GBP/USD is trading around 1.29 as speculation mounts about the fate of the Brexit deal. UK PM Johnson faces a test in parliament after securing an accord with the EU.


USD/JPY: struggles near mid-108.00s pivotal point amid weaker USD

US Dollar Index slumped to multi-month lows below 97.50. 10-year US Treasury bond yield adds more than 1% on Friday. Wall Street's main indexes look to start the day little changed.


Gold turns flat above $1,490 as USD remains under pressure

After dropping to a daily low of $1,485, the XAU/USD pair staged a modest rebound during the American trading hours and turned flat on the day near $1,492.

Gold News

China’s downward economic path offers no escape from its trade problems

There were no surprises in China’s GDP figures as the government portrays an economy slipping steadily lower giving little promise of improvement or support for the waning global expansion.

Read more