USD/JPY snaps its three-day losing streak on Monday, trading around 153.70 during the early European hours. This decline in the USD/JPY pair could be attributed to the rebound in the US Dollar (USD).
The US Dollar Index (DXY), which gauges the performance of the US Dollar (USD) against six major currencies, hovers around 105.10, by the press time. The lower US Treasury yields could limit the advance of the Greenback.
However, the US Dollar struggled due to softer-than-expected US jobs data released on Friday. This development revived expectations for potential interest rate cuts by the US Federal Reserve (Fed) later this year. The prevalent risk appetite may continue this week following Fed Chair Jerome Powell's relatively dovish stance on the monetary policy outlook during Wednesday's session.
Federal Reserve Bank of Chicago President Austan Goolsbee, speaking to Bloomberg TV on Friday, characterized the April labor market data as robust. Goolsbee stressed the importance of the Fed to evaluate its commitment to reducing inflation. He highlighted that if the Fed persists with a restrictive stance for an extended period, it will have to consider the employment aspect of its mandate.
In Japan, markets are closed on Monday due to a national holiday, with intervention risks lingering. Last week, the Japanese Yen (JPY) appreciated amidst potential government intervention by Japanese authorities. Reuters reported that data from the Bank of Japan (BoJ) indicated that Japanese authorities may have allocated approximately ¥6.0 trillion on April 29 and ¥3.66 trillion on May 1 to reinforce the JPY.
Overview | |
---|---|
Today last price | 153.72 |
Today Daily Change | 0.68 |
Today Daily Change % | 0.44 |
Today daily open | 153.04 |
Trends | |
---|---|
Daily SMA20 | 154.52 |
Daily SMA50 | 151.93 |
Daily SMA100 | 149.21 |
Daily SMA200 | 148.42 |
Levels | |
---|---|
Previous Daily High | 153.78 |
Previous Daily Low | 151.86 |
Previous Weekly High | 160.32 |
Previous Weekly Low | 151.86 |
Previous Monthly High | 160.32 |
Previous Monthly Low | 150.81 |
Daily Fibonacci 38.2% | 152.59 |
Daily Fibonacci 61.8% | 153.05 |
Daily Pivot Point S1 | 152 |
Daily Pivot Point S2 | 150.97 |
Daily Pivot Point S3 | 150.08 |
Daily Pivot Point R1 | 153.93 |
Daily Pivot Point R2 | 154.81 |
Daily Pivot Point R3 | 155.85 |
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