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USD/JPY Review: 111.00 a sticking point for cautious markets

2018-9-10 15:09:22Market Analysis
USD/JPY Review: 111.00 a sticking point for cautious markets

The USD/JPY is trading tightly with the 111.00 handle ahead of Monday's London market session open as traders brace for a week that promises to be full of trade-related headlines.

Monday sees a limited showing for the US Dollar on the economic calendar, but Greenback traders will be keeping their eyes peeled for any new developments on trade, specifically the US-China trade war after the public commenting period ended last week on another raft of US President Trump's tariffs on $200 billion worth of Chinese goods, and markets are bracing for the US to pull the trigger on the next round of the deepening Sino-US trade war.

USD/JPY Technical Analysis

Dollar-Yen pairing spinning near the 111.00 handle as traders await a direction for overall market sentiment heading into the new week, and a lower swing high on last week's chart leaves the pair exposed to further downside as trade tensions remain piqued. Friday's NFP report saw a bounce in the USD on stronger wages, and later this week will be seeing inflation figures from the US' CPI reading, but Monday will be a quiet session as traders brace for trade war news.