USDJPY Consolidates In a Range Below 110.00

The USDJPY pair lacked any firm direction and seesawed between tepid gains/minor losses, just below the key 110.00 psychological mark through the Asian session on Tuesday.

February 5, GKFX – The US Dollar kicked off the new week on a positive note and remained supported by Friday’s mostly upbeat US economic data. This coupled with improving risk sentiment further dented the Japanese Yen’s safe-haven status and remained supportive of the pair’s follow-through up-move on Monday.

The pair surged past the 110.00 handle and climbed to over one-month tops, albeit failed to capitalize on the positive momentum despite a follow-through USD uptick. Against the backdrop of last week’s dovish FOMC message, a modest retracement in the US Treasury bond yields failed to provide any fresh impetus and turned out to be one of the key factors capping gains.

The downside, however, remained cushioned amid fading safe-haven demand as market participants now look forward to the release of US ISM non-manufacturing PMI for some fresh impetus. This coupled with speeches by a slew of FOMC members this week will further collaborate towards determining the pair’s next leg of a directional move.

USDJPY technical analysis

    Today Last Price: 109.91

    Today Daily change %: -0.03%

    Today Daily Open: 109.94


    Daily SMA20: 109.13

    Daily SMA50: 110.71

    Daily SMA100: 111.84

    Daily SMA200: 111.26


    Previous Daily High: 110.16

    Previous Daily Low: 109.43

    Previous Weekly High: 109.74

    Previous Weekly Low: 108.5

    Previous Monthly High: 110

    Previous Monthly Low: 104.75

    Daily Fibonacci 38.2%: 109.88

    Daily Fibonacci 61.8%: 109.71

    Daily Pivot Point S1: 109.52

    Daily Pivot Point S2: 109.11

    Daily Pivot Point S3: 108.79

    Daily Pivot Point R1: 110.26

    Daily Pivot Point R2: 110.58

    Daily Pivot Point R3: 110.99


This article was written by analysts at GKFX. The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice.

If such information is acted upon by you, then this should be solely at your discretion, and GKFX will not be held accountable in any way.

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