USD/JPY is fluctuating in a tight range on Monday. US Dollar Index looks to close second straight trading day in the positive territory. Wall Street’s main indexes trade mixed at the start of the week. The broad-based USD strength witnessed during the first half of the day helped the USD/JPY pair advance to its highest level in nearly a week at 106.21. Although the pair lost its traction and dropped to the 105.70 area in the early American session, it didn’t have a difficult time erasing its losses and was last seen trading flat on the day at 105.90. DXY looks to build on Friday’s gains The USD’s market valuation on Monday remains as the primary driver of USD/JPY’s movements. The US Dollar Index (DXY) posted decisive gains on Friday after the Nonfarm Payrolls in the US rose by 1.8 million in July to beat the market expectation of 1.6 million. In the absence of significant fundamental drivers, the DXY preserved its bullish momentum at the start of the week and rose to 93.70. Following a technical correction to 93.30, the DXY turned north and was last seen gaining 0.15% on a daily basis at 93.52. A modest recovery witnessed in the US Treasury bond yields and the mixed market action witnessed in Wall Street’s main indexes seem to be helping the USD preserve its strength. In the early Asian session on Tuesday, Current Account, Bank Lending and Trade Balance data will be featured in the Japanese economic docket. Nevertheless, USD/JPY is likely to continue to react to changes in the USD’s performance against its peers. Technical levels to watch for 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 EUR/USD Price Analysis: The pair heads toward session lows as the dollar comeback continues FX Street 2 years USD/JPY is fluctuating in a tight range on Monday. US Dollar Index looks to close second straight trading day in the positive territory. Wall Street's main indexes trade mixed at the start of the week. The broad-based USD strength witnessed during the first half of the day helped the USD/JPY pair advance to its highest level in nearly a week at 106.21. Although the pair lost its traction and dropped to the 105.70 area in the early American session, it didn't have a difficult time erasing its losses and was last seen trading flat on the day at 105.90. DXY… Regulated 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.
