USD/JPY: The dollar bulls may be struggling for traction in their attempted recovery [Video]

Richard Perry Independent Analyst

USD/JPY

The dollar bulls may be struggling for traction in their attempted recovery, but they are hanging in there. Friday’s positive candle could not be translated into the new week as the market formed an almost doji candle (denoting uncertainty) yesterday. The fact that this came once more around the resistance of the 106.00/106.60 overhead supply makes it even more uncertain. That is now five sessions since the rally from 104.17 where the market has tested above 106.00 but failed to generate a closing breach. We continue to favour another failure in the 106.00/106.00 band. Once more this morning we see the dollar bulls trying to get something going, with a tick above 106.00. There is a slight improvement coming through on momentum indicators now, with the bulls encouraged by the MACD lines crossing higher. However, the daily RSI and Stochastics are now into an area where previous rallies have failed. The bulls would need to realistically pull above 107.50 to suggest there is sustainable traction to a recovery. This still has the look of a market unwinding into resistance and building for the next lower high. The reaction to support at 105.30 will be key to this, as a break back below would see the recovery rolling over once more.

Author

Richard Perry

Independent Analyst

EUR/USD looks apathetic around 1.1770

EUR/USD comes under renewed pressure on Tuesday, deflating below the 1.1800 support and reversing two consecutive days of gains. The pair’s decline follows the persistent move higher in the US Dollar, as trade uncertainty dominates the sentiment ahead of President Trump’s SOTU speech.

GBP/USD regains 1.3500 and above

GBP/USD extends its advance for the third day in a row on Tuesday, this time retesting the area beyond the 1.3500 hurdle. Cable’s uptick comes despite decent gains in the Greenback and the dovish message from the BoE’s Bailey at the UK Parliament.

Gold appears offered around $5,150

Gold is giving back a good portion of the recent multi-day rally, receding to the $5,150 zone per troy ounce amid the decent bounce in the US Dollar and mixed US Treasuty yields. In the meantime, markets’ attention remain on upcoming comments from Fed speakers.

Ripple’s DeFi shift in focus: Navigating XRPL EVM sidechain growth, XRPFi migration and liquidity

Ripple (XRP) has continued to trade under pressure, extending its decline by approximately 63% from the record high of $3.66 in July. The remittance token is trading above support at $1.35, while its upside appears limited by key supply zones, starting with $1.40, at the time of writing on Tuesday.

The Citrini report: How a debatable AI narrative can shake Wall Street

That AI-related headline alone was enough to rattle investors.US stocks slid sharply on Monday after a widely circulated Citrini Research memo outlined a hypothetical “2028 Global Intelligence Crisis”, warning that rapid AI adoption could push US unemployment into double digits as early as by mid-2028.

XRP pressured by weak ETF flows and declining retail interest

Ripple (XRP) is edging lower, trading above its intraday low of $1.32 at the time of writing on Tuesday. The decline from its weekly opening of $1.39 reflects heightened volatility in the broader cryptocurrency market, accentuated by tariff-triggered uncertainty.