#USDJPY @ 134.092 US yields hit fresh weekly lows due to risk aversion. (Pivot Orderbook analysis)
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- US yields hit fresh weekly lows due to risk aversion.
- Japanese yen benefits from falling equity prices in the US amid banking concerns.
- USD/JPY drops for the third consecutive day, below the 20-day SMA.
The pair currently trades last at 134.092.
The previous day high was 136.63 while the previous day low was 134.69. The daily 38.2% Fib levels comes at 135.43, expected to provide resistance. Similarly, the daily 61.8% fib level is at 135.89, expected to provide resistance.
The USD/JPY has broken lower and tumbled to 133.79, reaching its lowest level in six days. The pair remains under pressure amid risk aversion, with US regional banks taking a hit.
Although the US Dollar experienced a modest rebound following US Q1 productivity report, it quickly faded after Wall Street’s opening bell. US stocks are falling again, with regional banks tumbling. Wednesday’s Federal Reserve rate hike seems like old news already.
The deterioration in market sentiment is driving demand toward Treasury bonds. The US 10-year yield is at 3.33%, while the 2-year is at 3.79%, both at one-month lows.
The context of lower US yields and risk aversion is boosting the Japanese yen across the board during the American session, pushing USD/JPY down, extending weekly losses.
The pair is falling for the third consecutive day. From Tuesday’s top, it lost almost 400 pips. The price is testing levels below 134.00 and under the 20-day Simple Moving Average (SMA). The next strong support area is seen around 133.50. A recovery above 135.00 would alleviate the bearish pressure.
Technical Levels: Supports and Resistances
USDJPY currently trading at 133.89 at the time of writing. Pair opened at 134.7 and is trading with a change of -0.6 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 133.89 |
| 1 | Today Daily Change | -0.81 |
| 2 | Today Daily Change % | -0.60 |
| 3 | Today daily open | 134.70 |
The pair is trading below its 20 Daily moving average @ 134.16, below its 50 Daily moving average @ 133.92 , above its 100 Daily moving average @ 132.89 and below its 200 Daily moving average @ 136.98
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 134.16 |
| 1 | Daily SMA50 | 133.92 |
| 2 | Daily SMA100 | 132.89 |
| 3 | Daily SMA200 | 136.98 |
The previous day high was 136.63 while the previous day low was 134.69. The daily 38.2% Fib levels comes at 135.43, expected to provide resistance. Similarly, the daily 61.8% fib level is at 135.89, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 134.05, 133.4, 132.11
- Pivot resistance is noted at 135.99, 137.28, 137.93
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 136.63 |
| Previous Daily Low | 134.69 |
| Previous Weekly High | 136.56 |
| Previous Weekly Low | 133.01 |
| Previous Monthly High | 136.56 |
| Previous Monthly Low | 130.63 |
| Daily Fibonacci 38.2% | 135.43 |
| Daily Fibonacci 61.8% | 135.89 |
| Daily Pivot Point S1 | 134.05 |
| Daily Pivot Point S2 | 133.40 |
| Daily Pivot Point S3 | 132.11 |
| Daily Pivot Point R1 | 135.99 |
| Daily Pivot Point R2 | 137.28 |
| Daily Pivot Point R3 | 137.93 |
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