EUR/JPY resistance lies at 131.38 – Commerzbank

Pablo Piovano FXStreet

Karen Jones, Head of FICC Technical Analysis at Commerzbank, noted the cross faces initial resistance at 131.38 for the time being.

Key Quotes

“No change. EUR/JPY remains capped by the initial resistance at 131.38, the 14th May high and it will need to overcome this to alleviate immediate downside pressure. While capped here the market will remain offered. Below the March low at 128.96 targets the 127.57 August 2017 low and the 50% retracement at 126.18 50% retracement”.

“Above 131.38 lies tougher resistance offered by the 132.00 three month resistance line and the 133.48 recent April high”.

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 holds above 1.1800 after German sentiment data

EUR/USD stays in positive territory above 1.1800 on Monday after the data from Germany highlighted a modest improvement in business sentiment in February. Meanwhile, the US Dollar stays under pressure amid growing unceratinty surrounding the US trade regime, allowing the pair to hold its ground.

GBP/USD rises toward 1.3550 as tariff confusion slams USD

GBP/USD extends the advance toward 1.3550 on Monday. The US Dollar faces intense selling pressure as tariff uncertainty lingers following US President Trump's latest announcement. Traders will take more cues from the broader market sentiment and central bank talks.

Gold climbs above $5,100 on broad USD weakness

Gold sticks to its bullish bias near the monthly above $5,100 on Monday. Renewed trade-war fears, along with rising geopolitical tensions in the Middle East, turn out to be key factors that underpin the safe-haven precious metal and validate the constructive outlook.

Cardano braces for impact as US tariff storm brews

Cardano is down 4% at press time on Monday, entering its third consecutive day of decline. Bearish bias in Cardano’s derivatives market positional buildup aligns with rising pressure on the broader cryptocurrencymarket amid US President Donald Trump's reassessment of global tariffs and domestic conflict with the US Supreme Court.

Supreme Court nixes tariffs, Trump teases 15% global tariff

On February 20th, the Supreme Court ruled that Trump’s global tariffs under IEEPA authority were unconstitutional, effectively nullifying the framework. However, the relief was short-lived. Within hours, Trump floated a 15% blanket tariff under an alternative legal authority.

Top Crypto Losers: Zcash, Pump.fun, and LayerZero extended losses as Bitcoin loses $65,000

The cryptocurrency market starts the week in panic mode, with altcoins Zcash, Pump.fun, and LayerZero. Bitcoin falls below $65,000 as the US President Donald Trump regroups amid renewed trade policy risks.