USD/JPY picked up a bid on signs of stability in the Asian equity markets. However, the pair remains below 200-day MA of 110.22, possibly due to a drop in Chinese stock markets. The stock markets in Asia regained poise, pushing the USD/JPY above 110.00, but a break above the 200-day moving average (MA) of 110.22 remains elusive, possibly due to risk-averse Chinese stocks. At press time, the Shanghai Composite index is reporting a 0.60 percent or 17 point drop. Other major Asian equity indices – Nikkei, S&P/ASX 200, Hang Seng, and Kospi – are flashing green. Meanwhile, the USD/JPY pair is trading at 110.10. The JPY may pick up a bid, pushing the USD/JPY back below 110.00, if the Chinese stocks report deeper losses. Further, the fears of the treasury yield curve (spread between the 10-year yield and the 7-year yield) inversion could keep the USD bulls at bay. USD/JPY Technical Levels Resistance: 110.22 (200-day MA), 110.90 (June 15 high), 111.40 (May 21 high). Support: 110.00 (psychological level), 109.79 (4H 100MA), 109.39 (ascending/bullish 50-day MA). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next NZ: Q1 current account deficit widens to 2.8% of GDP – Westpac FX Street 3 years USD/JPY picked up a bid on signs of stability in the Asian equity markets. However, the pair remains below 200-day MA of 110.22, possibly due to a drop in Chinese stock markets. The stock markets in Asia regained poise, pushing the USD/JPY above 110.00, but a break above the 200-day moving average (MA) of 110.22 remains elusive, possibly due to risk-averse Chinese stocks. At press time, the Shanghai Composite index is reporting a 0.60 percent or 17 point drop. Other major Asian equity indices - Nikkei, S&P/ASX 200, Hang Seng, and Kospi - are flashing green. Meanwhile, the USD/JPY pair… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
