JPY news

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Re: JPY news

One of the best-performing currencies this year so far is the Yen and according to the Morgan Stanley’s experts it could strengthen further more in the coming months

Re: JPY news

I have to agree with you Bonifaas_abe,
Yen looks strong this year.

Re: JPY news

The yen has been pressured by recent weaker Japanese data

Risk-on powers USDJPY to 113.50

Risk-on powers USDJPY to 113.50

  • USD/JPY clocked a session high of 113.50 soon before press time and could rise further if both the equities and Treasury yields continue to rise.
  • FX desks are offering anti-risk JPY amid risk-on in the US equities.

The USD/JPY pair is currently trading at 113.45 - up 0.15 percent on the day - having clocked a low of 113.20.

Safe havens like the Japanese yen are losing altitude, courtesy of the rising odds of US-China trade deal and the resulting risk-on in the equities.

At press time, major Asian equity indices are flashing green, extending Wednesday's risk-on rally, as China is reportedly planning to open up its economy to foreign companies. These measures could be rolled out in the first quarter of 2019 and could pave for a permanent trade truce between two of the world's biggest economies.

As a result, markets may continue to buy risk in the short-term, pushing the anti-risk assets lower across the board. The USD/JPY, in particular, could fly high, having bounced off strongly from the crucial 100-day moving average (MA) support earlier this week, if the improved risk appetite lifts US treasury yields.

Currently, the 10-year US Treasury yield is seen at 2.91 percent - up six basis points from the recent low of 2.85 percent.

USD/JPY Technical Levels

Today Last Price: 113.45
Today Daily change: 26 pips
Today Daily change %: 0.230%
Today Daily Open: 113.19

Previous Daily SMA20: 113.17
Previous Daily SMA50: 113.01
Previous Daily SMA100: 112.33
Previous Daily SMA200: 110.69

Previous Daily High: 113.52
Previous Daily Low: 113.14
Previous Weekly High: 113.83
Previous Weekly Low: 112.23
Previous Monthly High: 114.25
Previous Monthly Low: 112.3
Previous Daily Fibonacci 38.2%: 113.28
Previous Daily Fibonacci 61.8%: 113.37
Previous Daily Pivot Point S1: 113.04
Previous Daily Pivot Point S2: 112.9
Previous Daily Pivot Point S3: 112.66
Previous Daily Pivot Point R1: 113.43
Previous Daily Pivot Point R2: 113.67
Previous Daily Pivot Point R3: 113.81

Source: https://www.fxstreet.com/news/risk-on-powers-usd-jpy-to-11350-201812130409

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