- Japanese Yen gains momentum as US Yields and Wall Street futures drop.
- US Industrial Production stagnates in February against expectations of a 0.2% increase.
- USD/JPY heads for the third weekly loss in a row, and to the lowest daily close in a month.
The USD/JPY dropped further, falling to as low as 131.99, as Treasury Bonds rally. A firm break below 132.00 could trigger an acceleration to the downside.
Optimism fades, yen emerges
US yields are falling on Friday. The US 10-year yield dropped to 3.45% while the 2-year yield stands at 4.06%, down 2.40%, for the day. The decline in yields takes place as US stocks opened lower as markets remain anxious.
Data released in the US showed Industrial Production rose 0% in February against expectations of a 0.2% increase. January’s numbers were revised higher from 0% to 0.3%. Capacity Utilization remains at 78%. Later on Friday, the University of Michigan will release its Consumer Sentiment report.
Lower yields and a decline in stocks in boosting the Japanese Yen across the board. USD/JPY lost more than a hundred pips during the last three hours. The pair fell from above 133.00 to 131.99.
As of writing, USD/JPY trades at 132.30, under pressure and looking at the 132.00 mark. A consolidation below would point to further weakness. The next strong barrier is seen at 130.60.
|Today last price||132.43|
|Today Daily Change||-1.30|
|Today Daily Change %||-0.97|
|Today daily open||133.73|
|Previous Daily High||133.82|
|Previous Daily Low||131.72|
|Previous Weekly High||137.91|
|Previous Weekly Low||134.12|
|Previous Monthly High||136.92|
|Previous Monthly Low||128.08|
|Daily Fibonacci 38.2%||133.02|
|Daily Fibonacci 61.8%||132.52|
|Daily Pivot Point S1||132.36|
|Daily Pivot Point S2||130.98|
|Daily Pivot Point S3||130.25|
|Daily Pivot Point R1||134.46|
|Daily Pivot Point R2||135.2|
|Daily Pivot Point R3||136.57|
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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Follow us on Telegram
Stay updated of all the news
EUR/USD trims gains after reaching weekly highs at 1.0925
EUR/USD peaked at 1.0925 on Thursday, the highest level in a week, then retreated to the 1.0900 area. The pair is holding on to strong daily gains, on its way to the highest daily close since early February, supported by a weaker US Dollar ahead of Friday’s US Core PCE data.
GBP/USD eyes 1.2400 as Pound outperforms
The Pound is among the top performers of the American session. GBP/USD is trading at the highest level in almost two months, near 1.2400. Risk flows are helping the pair while at the same time making it difficult for the US Dollar to find demand.
Gold: Bulls aiming to challenge the $2,000 threshold Premium
Spot Gold found demand during American trading hours and currently trades around the $1,980 level. Following a consolidative stage, the bright metal gained upward traction on the back of continued US Dollar weakness.
Cardano might have a bumpy road following a 25% recovery
Cardano price has had a disappointing run these last two weeks when compared to other major altcoins.
FTSE100 up for 4th day in a row, hits 2-week high
We’ve seen another positive day for European markets with the FTSE100 pushing up to its highest levels in 2 weeks, although it remains well short of reversing its March losses, unlike the DAX which has reversed nearly all its post 9th March decline.