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USD/JPY hits daily highs above 108.40 on Powell’s comments

  • US Dollar Index hits fresh highs during US session. 
  • USD/JPY approached 108.50 and losses strength. 
  • Fed’s Powell speaking at The Economic Club of Washington D.C.

The USD/JPY pair recovered from 6-day lows and climbed to 108.42 hitting a fresh daily low. The greenback also gained ground versus European currencies but remained steady against emerging market and commodity currencies. 

After reaching a fresh high, pulled back modestly and it is trading at 108.30, posting a daily gain of less than 20 pips. It is trimming some of yesterday’s losses. The intraday tone still points to the upside while in a broader perspective the pair continues to look vulnerable. 

The recent move higher took place during a presentation of Fed’s Chairman Powell in Washington. He said the underlying economic data does not point to slowdown but added his main concern is global growth. US yields rose further during Powell’s interview and boosted USD/JPY. The 10-year hit 2.72%. Wall Street indexes pulled back, into negative territory. 

Levels 

USD/JPY

Overview:
    Today Last Price: 108.36
    Today Daily change: 35 pips
    Today Daily change %: 0.324%
    Today Daily Open: 108.01
Trends:
    Previous Daily SMA20: 110.52
    Previous Daily SMA50: 112.18
    Previous Daily SMA100: 112.23
    Previous Daily SMA200: 111.13
Levels:
    Previous Daily High: 109
    Previous Daily Low: 107.97
    Previous Weekly High: 110.48
    Previous Weekly Low: 104.75
    Previous Monthly High: 113.83
    Previous Monthly Low: 109.55
    Previous Daily Fibonacci 38.2%: 108.37
    Previous Daily Fibonacci 61.8%: 108.61
    Previous Daily Pivot Point S1: 107.65
    Previous Daily Pivot Point S2: 107.29
    Previous Daily Pivot Point S3: 106.62
    Previous Daily Pivot Point R1: 108.68
    Previous Daily Pivot Point R2: 109.36
    Previous Daily Pivot Point R3: 109.72

 

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