USD/JPY is attempting a break above the 200-hour MA. Trade fears could cap gains, risks bearish reversal. Having found bids around 108.54 earlier today, the USD/JPY pair is now attempting a break above the 200-hour MA located at 109.77. The 10-year Italian bond yield fell more than 20 basis points on Wednesday on hopes the populist parties will be able to form a government and avoid fresh elections. Further, the Dow Jones Industrial Average rose 300 points. Still, the anti-risk Yen remained relatively resilient. The USD/JPY pair failed to close above 109.00 yesterday and fell back to 108.54 in early Asia, possibly on renewed US-China trade tensions. The currency pair risks bearish reversal and could scale the 109.00 mark in a convincing manner only if the US wage growth numbers, due on Friday, blow past expectations. As for today, the spot remains at the mercy of the broader market sentiment. USD/JPY Technical Levels The immediate resistance is seen at 108.91 (session high), 109.22 (4-hour 200MA), and 110.00 (psychological hurdle). On the other hand, support is lined up at 108.35 (50-day MA), 108.14 (100-day MA) and 108.00 (zero level). 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 Iran seeks OPEC support against US sanctions – Reuters FX Street 5 years USD/JPY is attempting a break above the 200-hour MA. Trade fears could cap gains, risks bearish reversal. Having found bids around 108.54 earlier today, the USD/JPY pair is now attempting a break above the 200-hour MA located at 109.77. The 10-year Italian bond yield fell more than 20 basis points on Wednesday on hopes the populist parties will be able to form a government and avoid fresh elections. Further, the Dow Jones Industrial Average rose 300 points. Still, the anti-risk Yen remained relatively resilient. The USD/JPY pair failed to close above 109.00 yesterday and fell back to 108.54… 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.
