FxWirePro: USD/JPY retreats from new monthly highs at 109.99, weakening risk-appetite to keep pair subdued
USD/JPY chart on Trading View used for analysis USD/JPY failed to preserve its momentum overnight, slips lower from new 2019 highs at 109.99. Sentiment soured as the government shutdown in the U.S. showed no signs of end…
USD/JPY failed to preserve its momentum overnight, slips lower from new 2019 highs at 109.99.
Sentiment soured as the government shutdown in the U.S. showed no signs of ending anytime soon.
10-year T-bond yield also lost its traction to confirm the weakening risk-appetite, weighing on the pair.
110 remains a tough barrier to cross. Technical studies are biased neutral. Decisive break above 110 could see upside.
Data from the U.S. overnight showed that house prices rose 0.4% in November and the Richmond Fed Manufacturing Index improved to -2 in January from -8.
110 mark is strong resistnace, break above finds next major hurdle at 110.77 (61.8% Fib).
On the downside, 20-DMA is immediate support at 109.07. Break below finds little support till jan 10th lows at 107.77.
