#USDJPY @ 147.832 US Dollar tumbles across the board amid lower US yields. (Pivot Orderbook analysis)
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- US Dollar tumbles across the board amid lower US yields.
- Japanese yen up versus dollar but holds onto loses against other rivals.
- USD/JPY down more than a hundred pips, no intervention seen.
The pair currently trades last at 147.832.
The previous day high was 149.71 while the previous day low was 145.51. The daily 38.2% Fib levels comes at 148.1, expected to provide resistance. Similarly, the daily 61.8% fib level is at 147.11, expected to provide support.
The USD/JPY is falling on Tuesday on no signs of interventions and driven by a weaker US Dollar across the board. The pair is trading under 148.00 after ending with hours of calm hovering around 148.80.
The pair bottomed at 147.50 and then rebounded modestly, unable to hold above 148.00. Below the daily low, the next support stands at 147.00.
Following the beginning of the American session, the greenback fell sharply. The DXY is falling by 0.90%, and trades under 111.00, at the lowest level in 19 days.
US yields are sharply lower, favoring the downside in USD/JPY. The US 10-year yield stands at 4.08%, down 3.70% for the day; while the 2-year stands at 4.43%, after hitting at 4.40%, the lowest since October 13.
The demand for Treasuries rose despite weaker US data and even amid the improvement in market sentiment. US equity markets are rising after trading in negative ground during the pre-market. The Dow Jones is up by 0.57% at fresh monthly highs, and the Nasdaq gains 1.60%.
The decline in USD/JPY offers some relief to Japanese authorities. On Thursday, the Bank of Japan will have its monetary policy meeting. Also that day, the US will release the first estimate of Q3 GDP growth.
Technical Levels: Supports and Resistances
USDJPY currently trading at 147.83 at the time of writing. Pair opened at 148.91 and is trading with a change of -0.73 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 147.83 |
| 1 | Today Daily Change | -1.08 |
| 2 | Today Daily Change % | -0.73 |
| 3 | Today daily open | 148.91 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 146.55, 50 SMA 142.95, 100 SMA @ 139.15 and 200 SMA @ 130.52.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 146.55 |
| 1 | Daily SMA50 | 142.95 |
| 2 | Daily SMA100 | 139.15 |
| 3 | Daily SMA200 | 130.52 |
The previous day high was 149.71 while the previous day low was 145.51. The daily 38.2% Fib levels comes at 148.1, expected to provide resistance. Similarly, the daily 61.8% fib level is at 147.11, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 146.37, 143.84, 142.17
- Pivot resistance is noted at 150.58, 152.24, 154.78
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 149.71 |
| Previous Daily Low | 145.51 |
| Previous Weekly High | 151.94 |
| Previous Weekly Low | 146.19 |
| Previous Monthly High | 145.90 |
| Previous Monthly Low | 138.78 |
| Daily Fibonacci 38.2% | 148.10 |
| Daily Fibonacci 61.8% | 147.11 |
| Daily Pivot Point S1 | 146.37 |
| Daily Pivot Point S2 | 143.84 |
| Daily Pivot Point S3 | 142.17 |
| Daily Pivot Point R1 | 150.58 |
| Daily Pivot Point R2 | 152.24 |
| Daily Pivot Point R3 | 154.78 |
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