USD/JPY chart - Trading View
USD/JPY was trading in narrow ranges in the Asian session today as markets await minutes from the unscheduled FOMC meeting on 15 March.
The major was trading 0.10% higher on the day at 108.84 at around 03:55 GMT, bias neutral.
The pair is struggling for a firm direction amid widespread risk-on as fresh figures from the US, Spain and the UK renewed fears of the deadly disease on late-Tuesday.
February month Machinery Orders data was released in Japan earlier today. Yen muted after core machinery orders, current account data.
Japan’s core machinery orders stood at 2.3 vs 2.9 previous release (expected -2.9). While the current account came in at 2.38T vs 1.63T previous release (expected 2.02T).
Also, Japan’s Prime Minister Abe has declared a state of emergency in Tokyo and six other provinces and plans to combat the economic fallout of COVID-19 with a huge fiscal stimulus package.
The pair trades with a neutral bias, but holds above 200-DMA. 5-DMA is biased higher and RSI is also above 50 mark.
Scope for upside remains as long as pair holds above 200-DMA. Next major resistance align at 109.53 (daily cloud) and 110.29 (Jan 17 high)
Retrace below 200-DMA negates any bullish bias. Immediate support below 200-DMA align at 108.22 (200H MA) and 107.69 (38.2% Fib).


U.S. Stocks vs. Bonds: Are Diverging Valuations Signaling a Shift?
Energy Sector Outlook 2025: AI's Role and Market Dynamics
European Stocks Rally on Chinese Growth and Mining Merger Speculation
FxWirePro: USD/CAD gains as broad dollar strength lifts pair
FxWirePro-24-Hour Crypto Category-Based Performance Dashboard
Lithium Market Poised for Recovery Amid Supply Cuts and Rising Demand
FxWirePro: GBP/NZD uptrend loses steam, remains on bullish path
Indonesia Surprises Markets with Interest Rate Cut Amid Currency Pressure
UBS Predicts Potential Fed Rate Cut Amid Strong US Economic Data
FxWirePro- Woodies Pivot (Major)
U.S. Treasury Yields Expected to Decline Amid Cooling Economic Pressures
FxWirePro: GBP/AUD bears maintain upper hand
FxWirePro: EUR/AUD recovers some ground, but outlook remains bearish
Geopolitical Shocks That Could Reshape Financial Markets in 2025
FxWirePro- Woodies Pivot (Major)
FxWirePro: EUR/AUD downside pressure builds, key support level in focus
U.S. Banks Report Strong Q4 Profits Amid Investment Banking Surge 



