Tradesto

Asian markets are trading lower Friday morning as the highly anticipated G-20 summit gets ready to kick off in Osaka, Japan. The highlight of the summit is expected to be the meeting between U.S. president Donald Trump and China’s president Xi Jinping. The two are scheduled to meet on Saturday and are expected to discuss trade between their two countries.

USD/JPY investors and traders are focused on and the pair is now at a five-day high. The pair fluctuates into a narrow range today of around 20 pips but is at the highs as markets are in a calmer mood to start the new day. Treasury yields are mostly flat after a recovery in overnight trading.

The pair now trades at 109.672 JPY, which is an addition of 0.079 or 0.07% from the previous close of 109.593. The trading volume is 81.385K. The daily range is from 109.47 to 109.75.

Moreover, the number of trader’s net-long is 3 % higher than yesterday and 11.5% higher from last week, while the number of trader’s net-short sunk 2% versus yesterday.