USDJPY eases, unable to clearly break above daily Tenkan-sen pivot

Slobodan Drvenica Windsor Brokers

USDJPY

The pair eases from session high at 117.52, after today’s extension of Friday’s strong bounce, showed initial signs of stall.
The price falls back close to former low and pivot at 116.03, being so far unable to sustain attempts above daily Tenkan-sen line at 116.82.
Initial support at 116.60 was lost, with near-term technicals returning to negative setup and seeing increased risk of further easing.
Break below 116.00 handle (also Fibo 61.8% of 115.06/117.52 upleg) and daily Kijun-sen at 115.75 would generate fresh bearish signal and risk return back to key near-term support at 115.05 (last Friday’s correction low).
Conversely, close above daily Tenkan-sen is needed to sideline downside risk, while acceleration above 117.52 would turn focus towards key barriers at 118.65 (recent highs / trendline resistance).

Res: 116.82; 117.52; 118.17; 118.65
Sup: 116.00; 115.75; 115.05; 114.52

Author

Slobodan Drvenica

Windsor Brokers

Industry veteran with over 22 years’ experience, Slobodan Drvenica joined Windsor Brokers in 1995 when he was an active trader for more than 10 years, managing the trading desk and own account departments.

EUR/USD flat lines below 1.1900; divergent Fed-ECB expectations offer support

The EUR/USD pair struggles to capitalize on the overnight bounce from the 1.1835-1.1830 region and oscillates in a narrow band during the Asian session on Thursday. Spot prices currently trade around the 1.1875 area, remaining nearly unchanged for the day and staying within striking distance of an over one-week high, reached on Tuesday, amid mixed cues.

GBP/USD slips heading into the Thursday trading window

The Pound Sterling pulled back from four-year highs on Wednesday, weighed down by a combination of Bank of England dovishness and UK political uncertainty, even as the US Dollar weakened on soft labor market revisions.

Gold posts modest gains above $5,050 as US-Iran tensions persist despite strong labor data

Gold price trades in positive territory near $5,060 during the early Asian session on Thursday. The precious metal edges higher despite stronger-than-expected US employment data. The release of the US Consumer Price Index inflation report will take center stage later on Friday.

Bitcoin holds steady despite strong US labour market

Bitcoin briefly bounced from $66,000 to above $68,000 but slightly reversed those gains following Wednesday's US January jobs report. The top crypto is hovering around $67,000, down 2% over the past 24 hours as of writing on Wednesday.

The market trades the path not the past

The payroll number did not just beat. It reset the tone. 130,000 vs. 65,000 expected, with a 35,000 whisper. 79 of 80 economists leaning the wrong way. Unemployment and underemployment are edging lower. For all the statistical fog around birth-death adjustments and seasonal quirks, the core message was unmistakable. The labour market is not cracking.

XRP sell-off deepens amid weak retail interest, risk-off sentiment

Ripple (XRP) is edging lower around $1.36 at the time of writing on Wednesday, weighed down by low retail interest and macroeconomic uncertainty, which is accelerating risk-off sentiment.