USD/JPY takes cues from US-China trade woes-led risk aversion. Japanese Preliminary Q3 GDP miss fails to move the spot. Focus stays on trade developments, US data and more Powell. The USD/JPY pair stalls its recovery from six-day lows of 108.65 and holds its range around 108.80 region, as the renewed US-China trade jitters negate the impact of the downbeat Japanese growth figures on the Yen. USD/JPY: 200- DMA at 109.02 – A tough nut to crack The Japanese Preliminary Q3 GDP rate grew less-than-expected across the time horizon but it the Japanese yen paid little heed to the downbeat release, as it continued to find support from the risk-off action in the global equities and Wall Street futures after US-China trade tensions resurfaced in the overnight trades. A fresh Wall Street Journal (WSJ) report stating that US-China talks “hit a snag over farm purchases”, triggered a renewed risk-off wave across the American markets that spoilt the Wall Street party induced by the Fed Chair Powell’s upbeat remarks on the US economic outlook. Meanwhile, the spot also fails to find any impetus from the range-bound trading seen in the US dollar across its main peers over the last two trading sessions. Also, as the technical set up keeps the pair capped between the 200-DMA at 109.02 and channel support seen at 108.54. The focus stays on the US-China trade headlines and its impact on the risk sentiment, which continues to play a pivotal role in the USD/JPY price-action. Markets also look forward to the US Producer Price Index and Jobless Claims data ahead of Day 2 of Powell’s testimony. USD/JPY Technical levels to consider 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 Breaking: Australian Employment Change arrives at -19k in Oct vs. +15k expected – Aussie drops sharply FX Street 3 years USD/JPY takes cues from US-China trade woes-led risk aversion. Japanese Preliminary Q3 GDP miss fails to move the spot. Focus stays on trade developments, US data and more Powell. The USD/JPY pair stalls its recovery from six-day lows of 108.65 and holds its range around 108.80 region, as the renewed US-China trade jitters negate the impact of the downbeat Japanese growth figures on the Yen. USD/JPY: 200- DMA at 109.02 - A tough nut to crack The Japanese Preliminary Q3 GDP rate grew less-than-expected across the time horizon but it the Japanese yen paid little heed to the downbeat release,… 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.
