USD/JPY trades with modest losses, just below 112.00 mark

   •  A subdued USD price action fails to assist the pair to build on the recent positive move. 
   •  US-China trade optimism undermines JPY’s safe-haven status and helped limit the downside.

The USD/JPY pair traded with a mild negative bias through the Asian session on Tuesday, albeit remained well within the previous session's narrow trading range.

The pair continued with its struggle to sustain/build on the momentum beyond the 112.00 handle, with a combination of factors contributing to sideways consolidative price action for the second consecutive session on Tuesday.

The overnight uptick, supported by upbeat NY Empire State Manufacturing Index, lacked any strong conviction and remained capped amid the prevalent US Dollar selling bias on the back of the US President Donald Trump's latest criticism of the Fed's policy tightening.

The negative factor, to a larger extent, was offset by growing optimism over a possible US-China trade deal, which undermined the Japanese Yen's safe-haven status and turned out to be one of the key factors that might continue to help limit any meaningful downside. 

In absence of any major market moving economic releases, the pair seems more likely to continue with its subdued/range-bound price action ahead of this week's more relevant macro data from the US. 

Technical levels to watch

USD/JPY

Overview
Today last price 111.92
Today Daily Change -0.12
Today Daily Change % -0.11
Today daily open 112.04
 
Trends
Daily SMA20 111.11
Daily SMA50 111.01
Daily SMA100 110.86
Daily SMA200 111.51
Levels
Previous Daily High 112.1
Previous Daily Low 111.88
Previous Weekly High 112.1
Previous Weekly Low 110.84
Previous Monthly High 112.14
Previous Monthly Low 109.71
Daily Fibonacci 38.2% 112.02
Daily Fibonacci 61.8% 111.97
Daily Pivot Point S1 111.92
Daily Pivot Point S2 111.79
Daily Pivot Point S3 111.7
Daily Pivot Point R1 112.13
Daily Pivot Point R2 112.22
Daily Pivot Point R3 112.34

 

 

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 steady around 1.1240 in ultra-thin holiday's trading

The EUR/USD pair bounced some 20 pips from its weekly low during the Asian session, now mute around 1.1240 with most market's off today. Softer-than-expected US housing data passed unnoticed.

EUR/USD News

GBP/USD battling around 1.3000

The GBP/USD pair is heading nowhere fast after bottoming for the week at 1.2978, amid lack of progress in Brexit negotiations.  Encouraging UK data failed to trigger Pound's demand.

GBP/USD News

USD/JPY: On track to close in the middle of its 50-pip weekly range below 112

The USD/JPY pair remains frozen below the 112 handle in the NA session and there is no reason for it to make a meaningful move as investors are already enjoying the Easter holiday.

USD/JPY News

The Tale of the Prosperous Consumer-US Retail Sales

American consumers asserted the right to spend in a grand fashion in March boosting retail sales to the fastest expansion in 18 months as the booming job market put the shutdown marked holiday season to rest.

Read more

Gold Forecast: Eyes 8-month rising trendline after weakest weekly close since December

The troy ounce of the precious metal lost around $17 this week and now looks to record its lowest weekly close since the end of December near $1275.

Gold News

Majors

Cryptocurrencies

Signatures