USD/JPY trades with modest gains, eyes 110.70 ahead of US CPI


  • USD/JPY continues to ride higher the fifth straight day on Wednesday.
  • US Dollar Index remains in demand above 93.00 on Fed’s official’s hawkish comments, US infrastructure bill.
  • The yen losses attractiveness as a record case of delta variant reported in Japan.

USD/JPY extends gains in the initial Asian trading session on Wednesday. The strong buying pressure in the US dollar sponsors the performance of the pair.

At the time of writing, USD/JPY is trading at 110.57, up 0.01 % for the day.

The US Dollar Index, which tracks the performance of the greenback against its six major rivals, trades above 93.00 with 0.15% gains tracing the higher US Treasury yields.

The US 10-year benchmark Treasury yields jumped to 1.35% on the growing expectations of sooner-than-expected US Federal Reserve threshold of timing to reduce its monthly bond-purchasing program.

Meanwhile, Chicago Fed President Charles Evan said he would wait for more job reports before taper decision. His comments were diverging from other Fed official’s hawkish stance.

In the latest development, US Senate passed the massive $1 trillion infrastructure plan, further adding to the optimism surrounding the greenback.

The number of Americans filing new claims for unemployment benefits declined to 385k in July, broadly in line with market estimates of 384K whereas the US posted the largest trade deficit on record in June at

On the other hand, the Japanese yen remained weaker against the greenback as the number of new coronavirus cases reported continued to recorded above 10k.

Meanwhile, Japan’s bank lending edged higher in July at the slowest annual pace in the last nine years.

As for now, investors wait for the US Core Inflation Rate and Inflation Rate to gauge the market sentiment.

A higher reading would strengthen the prospects of early Fed tapering, which could boost the US dollar appeal as an attractive investment.

USD/JPY additional levels

USD/JPY

Overview
Today last price 110.58
Today Daily Change 0.28
Today Daily Change % 0.25
Today daily open 110.3
 
Trends
Daily SMA20 109.91
Daily SMA50 110.13
Daily SMA100 109.64
Daily SMA200 107.29
 
Levels
Previous Daily High 110.35
Previous Daily Low 110.03
Previous Weekly High 110.36
Previous Weekly Low 108.72
Previous Monthly High 111.66
Previous Monthly Low 109.06
Daily Fibonacci 38.2% 110.23
Daily Fibonacci 61.8% 110.15
Daily Pivot Point S1 110.1
Daily Pivot Point S2 109.9
Daily Pivot Point S3 109.77
Daily Pivot Point R1 110.42
Daily Pivot Point R2 110.55
Daily Pivot Point R3 110.75

 


 

Share: Feed news

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Trading Pro
Read review
Pepperstone
Read review
XM
Read review
Moneta Markets
Read review
Trading Pro
Account
7.2
Tools
5.2
Service
6.6
Trading
8.0
Trust
5.0
Experience
7.0
Read review
Pepperstone
Account
8.2
Tools
8.2
Service
7.4
Trading
9.0
Trust
8.8
Experience
9.0
Read review
XM
Account
7.2
Tools
9.2
Service
9.4
Trading
9.0
Trust
7.0
Experience
8.4
Read review
Moneta Markets
Account
7.4
Tools
6.6
Service
8.0
Trading
6.6
Trust
5.2
Experience
9.2
Read review
Trading Pro
Read review
Pepperstone
Read review
XM
Read review
Moneta Markets
Read review
Trading Pro
Account
7.2
Tools
5.2
Service
6.6
Trading
8.0
Trust
5.0
Experience
7.0
Read review
Pepperstone
Account
8.2
Tools
8.2
Service
7.4
Trading
9.0
Trust
8.8
Experience
9.0
Read review
XM
Account
7.2
Tools
9.2
Service
9.4
Trading
9.0
Trust
7.0
Experience
8.4
Read review
Moneta Markets
Account
7.4
Tools
6.6
Service
8.0
Trading
6.6
Trust
5.2
Experience
9.2
Read review

Recommended content


Recommended content

Editors’ Picks

EUR/USD corrects sharply toward 1.0950 ahead of US NFP, Powell

EUR/USD corrects sharply toward 1.0950 ahead of US NFP, Powell

EUR/USD is extending its correction toward 1.0950 in the European session on Friday. The US Dollar has come up for air after the trade war and recession fears-led sell-off, weighing on the pair. Traders look to the US NFP report and Fed Chair Powell's speech for fresh directives.  

EUR/USD News
GBP/USD remains heavy near 1.3000, US NFP data awaited

GBP/USD remains heavy near 1.3000, US NFP data awaited

GBP/USD is battling 1.3000, under heavy selling pressure in European trading on Friday. Traders resort to profit-taking on their US Dollar short positiions, re-adjusting ahead of the critical US Nonfarm Payrolls data and Fed Chair Powell speech. 

GBP/USD News
Gold price sticks to negative bias around $3,100; bears seem non-committed ahead of US NFP report

Gold price sticks to negative bias around $3,100; bears seem non-committed ahead of US NFP report

Gold price meets with a fresh supply on Friday, though the downside potential seems limited. Trump’s tariffs-inspired risk-off mood might continue to act as a tailwind for the precious metal. Fed rate cut bets weigh on the USD and also contribute to limiting losses for the XAU/USD pair.

Gold News
Nonfarm Payrolls forecast: US jobs growth set to slow in March amid growing worries over US tariffs

Nonfarm Payrolls forecast: US jobs growth set to slow in March amid growing worries over US tariffs

Nonfarm Payrolls are forecast to rise by 135K in March, following a 151K gain reported in February. The United States Bureau of Labor Statistics will release the jobs data on Friday at 12:30 GMT. US labor data could impact the Fed’s interest rate path, potentially affecting the US Dollar's price action.

Read more
Trump’s “Liberation Day” tariffs on the way

Trump’s “Liberation Day” tariffs on the way

United States (US) President Donald Trump’s self-styled “Liberation Day” has finally arrived. After four straight failures to kick off Donald Trump’s “day one” tariffs that were supposed to be implemented when President Trump assumed office 72 days ago, Trump’s team is slated to finally unveil a sweeping, lopsided package of “reciprocal” tariffs. 

Read more
The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

Read More

Forex MAJORS

Cryptocurrencies

Signatures

Best Brokers of 2025