S&P 500 futures are reporting a 0.5 percent gain. China’s Shanghai Composite has erased early losses and is now reporting gains. The risk reset likely put a bid under the USD/JPY, however, the upside in the pair is being capped by the 21-day SMA. Currently, the USD/JPY pair is trading at 112.62, representing a 0.23 percent gain on the day. The gains are likely associated with the uptick in the S&P 500 futures and Asian equities. Notably, Shanghai Composite, which dropped 0.20 percent in early trade, is now up 0.70 percent on the day. Further, reports are doing the rounds that President Trump, during an interview with Fox News, said that he is expecting a “great” trade deal with China. As a result, the risk assets may remain well bid in Europe and the US. Technically speaking, the pair’s recovery from Friday’s low of 111.38 to 112.62 has trapped the bears on the wrong side of the market. However, a bullish reversal would be confirmed above 112.84 (Oct. 23 high). Also, the 21-day SMA lined up at 112.70 is proving tough to crack as of writing, but could be breached if the European equities post stellar gains. Technical Levels USD/JPY Overview: Last Price: 112.66 Daily change: 29 pips Daily change: 0.258% Daily Open: 112.37 Trends: Daily SMA20: 112.72 Daily SMA50: 112.17 Daily SMA100: 111.6 Daily SMA200: 109.87 Levels: Daily High: 112.58 Daily Low: 111.78 Weekly High: 112.9 Weekly Low: 111.38 Monthly High: 113.71 Monthly Low: 110.38 Daily Fibonacci 38.2%: 112.27 Daily Fibonacci 61.8%: 112.08 Daily Pivot Point S1: 111.9 Daily Pivot Point S2: 111.44 Daily Pivot Point S3: 111.1 Daily Pivot Point R1: 112.71 Daily Pivot Point R2: 113.05 Daily Pivot Point R3: 113.51 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 Australia: Unconvincing bounce in dwelling approvals – Westpac FX Street 4 years S&P 500 futures are reporting a 0.5 percent gain. China's Shanghai Composite has erased early losses and is now reporting gains. The risk reset likely put a bid under the USD/JPY, however, the upside in the pair is being capped by the 21-day SMA. Currently, the USD/JPY pair is trading at 112.62, representing a 0.23 percent gain on the day. The gains are likely associated with the uptick in the S&P 500 futures and Asian equities. Notably, Shanghai Composite, which dropped 0.20 percent in early trade, is now up 0.70 percent on the day. Further, reports are doing the rounds… 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.
