USD/JPY keeps an eye for 110.00 amid steady USD

• USD/JPY continues with the previous day’s gain on Tuesday in the initial Asian trading hours

• US  Dollar Index keeps its steady pace and maintains gains despite weaker NFP data on Friday.

• The Japanese Yen maintain its safe asset appeal as investors turn cautious on global economic recovery.

  USD/JPY trades with minute gains on Tuesday following the previous day’s momentum. The pair from the highs of 110.00 on Friday, following the disappointing NFP data. 

  At the time of writing, USD/JPY is trading at 109.87, up 0.12 % for the day.

  The US Dollar Index (DXY), which measures the performance of the greenback against its six major rivals shrugs off the downbeat NFP data, released on Friday and attracts investors attention on global growth recovery concerns due to the coronavirus infections.

  There were no major fundamental releases on Monday as the US market was closed on account of the Labor day holiday.

  On the other hand, the Japanese Yen managed to gain some traction after Prime Minister Yoshihide Suga offered to resign on Friday, avoiding political turmoil.

  Japan’s Prime Minister Yoshihide Suga resigned and decided not to participate in the September election. The au Jibun Bank Japan Services Purchase Managers Index (PMI)  came at 42.9 in August lower from the 47.4 in the previous month.

  As for now, the sentiment surrounding the US dollar continues to influence the pair’s performance in a short time.

USD/JPY additional levels