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USD/JPY climbs to 110 as stocks post gains in early trade

  • Trade optimism helps Wall Street start the day higher.
  • USD/JPY continues to trade in multi-month lows.
  • US Dollar Index stays in the negative territory.

After touching its lowest level since mid-August at 109.90 earlier today, the USD/JPY pair gained traction in the last hour and was last seen trading at 110, still losing 0.25% on the day.

Although major equity indexes in the United States record gains in the last trading day of the year following President Trump's remarks on the trade talks with China, the pair's gains stay limited as the greenback struggles to find demand.

In addition to the thin trading conditions, a 0.6% drop in the 10-year Treasury bond yields seems to be weighing on the dollar. At the moment, the US Dollar Index, which slumped to a 5-week low of 96.12, is at 96.30, erasing 0.1% on a daily basis.

Later this week, the employment report from the U.S. will be the most important data featured in the economic calendar. Japan will be on holiday until January 4th.

Technical levels to consider

USD/JPY

Overview:
    Today Last Price: 110.02
    Today Daily change: -19 pips
    Today Daily change %: -0.172%
    Today Daily Open: 110.21
Trends:
    Previous Daily SMA20: 112.27
    Previous Daily SMA50: 112.78
    Previous Daily SMA100: 112.38
    Previous Daily SMA200: 111.01
Levels:
    Previous Daily High: 111.07
    Previous Daily Low: 110.16
    Previous Weekly High: 111.41
    Previous Weekly Low: 110
    Previous Monthly High: 114.25
    Previous Monthly Low: 112.3
    Previous Daily Fibonacci 38.2%: 110.5
    Previous Daily Fibonacci 61.8%: 110.72
    Previous Daily Pivot Point S1: 109.89
    Previous Daily Pivot Point S2: 109.56
    Previous Daily Pivot Point S3: 108.97
    Previous Daily Pivot Point R1: 110.8
    Previous Daily Pivot Point R2: 111.39
    Previous Daily Pivot Point R3: 111.72

 

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