The escalating US-China trade war and the resulting risk aversion have pushed the USD/JPY below the 50-day moving average (MA) for the first time since April 29. The pair also hit a two-week low of 109.45 in Asia. The bid tone around the Japanese Yen (JPY) strengthened in Asia, pushing the USD/JPY down to 109.45 – the lowest level since June 11. Further, the spot fell below the ascending (bullish) 50-day MA for the first time since April 29. At press time, the currency pair is trading at 109.50 – down 0.43 percent and the 50-day MA is located at 109.55. The USD/JPY pair ran into offers after reports hit the wires that Trump administration is planning to restrict many Chinese companies from investing in US technology companies. The news has likely pushed the S&P 500 futures down by 0.5 percent and has put a bid under the anti-risk JPY. The currency pair will likely find acceptance below the key moving average should the major stock markets in Asia and Europe report big losses on rising US-China trade tensions. USD/JPY Technical Levels Resistance: 109.55 (50-day MA), 109.97 (5-day MA), 110.21 (200-day MA). Support: 109.20 (June 8 low), 108.82 (38.2% Fib R of March 26 low – May 21 high), 108.16 (100-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 Week ahead: RBNZ, Eurozone CPI and US GDP in focus – Rabobank FX Street 3 years The escalating US-China trade war and the resulting risk aversion have pushed the USD/JPY below the 50-day moving average (MA) for the first time since April 29. The pair also hit a two-week low of 109.45 in Asia. The bid tone around the Japanese Yen (JPY) strengthened in Asia, pushing the USD/JPY down to 109.45 - the lowest level since June 11. Further, the spot fell below the ascending (bullish) 50-day MA for the first time since April 29. At press time, the currency pair is trading at 109.50 - down 0.43 percent and the 50-day MA is located… 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.
