Confirming you are not from the U.S. or the Philippines

By giving this statement, I explicitly declare and confirm that:
  • I am not a U.S. citizen or resident
  • I am not a resident of the Philippines
  • I do not directly or indirectly own more than 10% of shares/voting rights/interest of the U.S. residents and/or do not control U.S. citizens or residents by other means
  • I am not under the direct or indirect ownership of more than 10% of shares/voting rights/interest and/or under the control of U.S. citizen or resident exercised by other means
  • I am not affiliated with U.S. citizens or residents in terms of Section 1504(a) of FATCA
  • I am aware of my liability for making a false declaration.
For the purposes of this statement, all U.S. dependent countries and territories are equalled to the main territory of the USA. I accept full responsibility for the accuracy of this declaration and commit to personally address and resolve any claims or issues that may arise from a breach of this statement.
Cancel Confirm
We are dedicated to your privacy and the security of your personal information. We only collect emails to provide special offers and important information about our products and services. By submitting your email address, you agree to receive such letters from us. If you want to unsubscribe or have any questions or concerns, write to our Customer Support.
Confirm
Octa trading broker Sign up Log in
Octa trading broker
Open trading account
Trading news
Back
4 Feb 2020

USD/JPY extends rally to fresh 10-day highs near 109.50

  • 10-year US Treasury bond yield stages decisive recovery on Tuesday.
  • Nasdaq Composite adds more than 2% boosted by risk-on flows.
  • US Dollar Index closes in on 98 handle.

The USD/JPY pair extends its daily rally during the American session as risk-on flows continue to dominate the markets. As of writing, the pair was trading at its highest level since January 24th at 109.42, adding 0.7% on a daily basis.

Easing concerns over the negative impact of the coronavirus outbreak on the Chinese and the global economy provided a boost to the risk appetite on Tuesday. The 10-year US Treasury bond yield, which generally showed a strong positive correlation with the USD/JPY pair, is up nearly 5%. Furthermore, Wall Street's main indexes are posting decisive gains with the Nasdaq Composite leading the way with a daily gain of 2.1%.

USD outperforms its major rivals

On the other hand, the greenback is preserving its strength to help the pair push higher. 

Today's data from the US showed that the ISM-NY Business Conditions Index in January rose to 45.8 in January from 39.1 in December and the IBD/TIPP Economic Optimism for February rose to 59.8 from 57.4. The US Dollar Index was last seen trading at 0.16% on the day at 97.96.

There won't be any significant macroeconomic data releases from Japan during the Asian session and the risk sentiment is likely to continue to drive the pair.

Technical levels to watch for

 

Feb 4, 2020

AUD/USD: Downside limited, even if RBA cuts – MUFG

Analysts at MUFG Bank, see the AUD/USD pair holding around current levels in the near term. Later, they expect it to rise slowly and forecast it will
Read more Previous
Feb 4, 2020

GBP/USD Price Analysis: Pound bounces from lows, challenges 1.3036 resistance

After the October and December bull-run, the market is trading in a rectangle consolidation above the 100/200-day simple moving averages (SMAs).
Read more Next