Monday, February 19, 2018
Banner Top
USD/JPY – Upside capped by drop in S&P 500 futures
Banner Content
  • Asian desks reluctant to push JPY lower amid losses in S&P 500.
  • Also, the 10-year treasury yield trades dead flat at 2.8 percent.

The S&P 500 futures are down 0.40 percent, suggesting the recovery from an 11-week low of $2593.07 could be nothing more than a ‘dead cat bounce’.

Hence, the USD/JPY pair, despite being mildly bid at 109.36, is still trading well below the previous day’s high of 109.71. Also, Japan’s Nikkei index is down at least 250 points from the session high of 21,901. Thus, traders are reluctant to push JPY pairs higher.

Further. the 10-year treasury yield is flatlined at 2.8 percent. Hence, the USD is finding it hard to extend the recovery from the session low of 109.12. Looking ahead – the spot remains at the mercy of the sentiment in the equity markets.

USD/JPY Technical Levels

A break above 109.71 (previous day’s high) would open doors for 110.00 (psychological hurdle) and 110.48 (Feb. 2 high). On the downside, breach of support at 109.12 (session low) could yield a pullback to 108.92 (previous day’s low) and 108.46 (Feb. 6 low).

Banner Content

0 Comments

Leave a Comment

Jimmy BUY LICENSE 1 out of 5 agents online CHANNELSAGENTS Add agent Add communication channels: Chat on site Telegram Mobile SDK Facebook Viber Email WhatsApp xtreamacademy.com SETTINGS ARCHIVES STATISTICS ASSIGN AGENTS Jimmy JivoChat code is not installed on this site INSTALL CODE xtreamacademy.com SETTINGS ARCHIVES STATISTICS ASSIGN AGENTS Jimmy JivoChat code is not installed on this site INSTALL CODE Install Code on xtreamacademy.com Installation Send instructions to my webmaster Install the following code on every page of your site right before the closing tag, or use one of the CMS plugins below: COPY TO CLIPBOARD Or select and install one of following plugins OPEN SITE SETTINGS Download the agent's app: For Windows & MacAndroidiPhoneBrowser-based Support License Agreement JivoChat Inc. © 2011-2018. All rights reserved