USD/JPY drops to fresh weekly lows below 109.70

 

USD/JPY came under strong bearish pressure in American session.
  • US Dollar Index extends slide below 92.50 ahead of the weekend.
  • 10-year US Treasury bond yield is down more than 4% on Friday.

The USD/JPY pair broke out of its daily range during the American session and dropped to its lowest level in a week at 109.65. As of writing, the pair was down 0.65% on the day at 109.67.

Falling US T-bond yields drag USD/JPY lower

The sharp decline witnessed in the US Treasury bond yields and the broad-based USD weakness is causing USD/JPY to stay under strong bearish pressure ahead of the weekend. Currently, the benchmark 10-year US Treasury bond yield is losing 4.5% on a daily basis at 1.3%.

The data from the US showed on Friday that the University of Michigan's Consumer Sentiment Index plunged to its lowest level in nearly 10 years at 70.2 in August's advanced reading. This print missed the market expectation of 81.2 by a wide margin and forced the greenback to weaken against its rivals. At the moment, the US Dollar Index is losing 0.56% on the day at 92.47.

Breaking: US UoM Consumer Sentiment Index falls sharply to 70.2 in August.

With this recent slump, USD/JPY now remains on track to end the week in the negative territory. There won't be any other data releases featured in the US economic docket in the remainder of the day and USD/JPY is likely to close below the key 110.00 psychological level.

Technical levels to watch for

USD/JPY

OVERVIEW
Today last price109.66
Today Daily Change-0.75
Today Daily Change %-0.68
Today daily open110.41
 
TRENDS
Daily SMA20109.96
Daily SMA50110.17
Daily SMA100109.69
Daily SMA200107.39
 
LEVELS
Previous Daily High110.55
Previous Daily Low110.32
Previous Weekly High110.36
Previous Weekly Low108.72
Previous Monthly High111.66
Previous Monthly Low109.06
Daily Fibonacci 38.2%110.41
Daily Fibonacci 61.8%110.46
Daily Pivot Point S1110.3
Daily Pivot Point S2110.2
Daily Pivot Point S3110.07
Daily Pivot Point R1110.53
Daily Pivot Point R2110.65
Daily Pivot Point R3110.76

 Read More:  FxStreet

To Join Our Online Forex Master Class: Click Here

To Subscribe Our Online Forex Free Signal: Click Here

To  Register with FXTM and trade Forex, Gold, Oil and CFDs: Click Here

Follow Us:

Facebook Linkedin Instagram Pinterest Twitter  YouTube


Comments

Post a Comment

Popular posts from this blog

Sell AUDUSD at any price between 0.7255 until 0.7280

Image
  Forex Signal Sell AUDUSD at any price between 0.7255 until 0.7280 AUDUSD Analysis :  AUDUSD has broken the horizontal support and starts to move in a descending channel in the 3-hour timeframe chart. Target 1: 0.7210 Target 2: 0.7145 Target 3: 0.7070 Stop Loss: 0.7330 For using our signals, Follow this signal rules properly 1) Within 2 days (Signal day + Next Day AEDT time), if signal doesn’t reach target 1 and If the trade is... Standing in-between our Entry = Close the Trade. running profit = Change SL to Entry. running loss = Change TP to Entry. Please note: We don't want you to hold in losses for long time, instead you should hold in big profits for long time to become a profitable trader. To Join Our Online Forex Master Class :   Click Here To Subscribe to Our Online Forex Free Signal :   Click Here To  Register with FXTM   Broker and trade Forex, Gold, Oil and CFDs:  Click Here To  Register with HotForex  Broke r:  Click Here F...
Read more

2022 FOREX Business Mega Seminar In Abuja

Image
Are you willing to build a Career and Mentorships for profitable forex trading? Yes, here is the Opportunity for you. Orbit Forex Academy in conjunction with Forex4you is hosting you live for 2-days Forex Business Mega Seminar in Abuja, Friday August 19th and Saturday 20th, 2022 by 10am at Kuje Town Hall, Kuje -F.C.T Abuja. Whether you are a beginner or an existing trader, the seminar is for you. To book your seat, Send K to 08173932842 for free Or visit: www.orbitforexacademy.com to book your seat online …Come and see the wonder of Forex trading for financial independence because, depending on one source of income is as good as slavery. ... Orbit Forex Academy, Learn and Trade With Confidence.
Read more