EUR/JPY looks firmer albeit off 2021 highs above 134.00

EUR/JPY records new 201 highs above 134.00.
Higher US yields sponsor the selling mood in JPY.
US ISM Manufacturing next of note in the US calendar.

Pablo Piovano FXStreet

The selling pressure in the Japanese currency underpins the continuation of the upside momentum in EUR/JPY to fresh YTD tops beyond 134.00 the figure.

EUR/JPY focuses on US docket

The greenback keeps treading water on Tuesday despite the corrective upside in yields of the US 10-year benchmark, which seems to sustain the offered note in the Japanese safe haven.

In addition, better-than-expected PMI prints in the euro area so far fail to ignite a more lasting upside impulse in the European currency, all amidst the somewhat cautious mood among investors considering key US data releases later on Tuesday and on Friday.

In the domestic docket, both German and EMU Manufacturing PMIs came in above estimates for the month of May, while the German Unemployment Change shrunk by 15K and the jobless rate stayed unchanged at 6.0%. In Japan, the Manufacturing PMI improved a tad to 53.0 (from 52.5).

Later in the US session, the ISM Manufacturing will take centre stage.

EUR/JPY relevant levels

So far, the cross is gaining 0.09% at 134.03 and a surpass of 133.11 (2021 high Jun.1) would pave the way for a test of 134.40 (monthly high Sep.2017) and then 134.50 (monthly high Oct.2017). On the downside, the next support at 132.52 (weekly low May 24) followed by 131.64 (weekly low May 12) and finally 130.98 (monthly low May 5).

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Breaking: US and Israel attack Iran, risk aversion to sweep global markets

Early Saturday, United States (US) President Donald Trump announced that the US had begun “major combat operations” in Iran, following Israel’s pre-emptive missile attacks against Tehran.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.