USD/JPY Asia Price Forecast: Greenback trades off the May’s highs vs. Japanese yen

USD/JPY is retracing slightly from the May’s highs.
The level to beat for bulls is the 107.75 resistance.

Flavio Tosti Independent Analyst

USD/JPY four-hour chart

USD/JPY is trading off the May’s highs above the 100 and 200 SMAs on the four-hour chart. Bulls want a continuation up of the movement started earlier in the month, possibly eyeing a break above the 107.75 resistance en route towards the 108.00 figure. However, a daily close below the 107.40 could be seen as negative for USD/JPY with bears then looking at the 107.00 figure level.

Additional key levels

USD/JPY

Overview
Today last price	107.62
Today Daily Change	-0.10
Today Daily Change %	-0.09
Today daily open	107.72

Trends
Daily SMA20	107.17
Daily SMA50	107.92
Daily SMA100	108.4
Daily SMA200	108.33

Levels
Previous Daily High	107.95
Previous Daily Low	107.37
Previous Weekly High	108.09
Previous Weekly Low	107.04
Previous Monthly High	109.38
Previous Monthly Low	106.36
Daily Fibonacci 38.2%	107.73
Daily Fibonacci 61.8%	107.59
Daily Pivot Point S1	107.41
Daily Pivot Point S2	107.1
Daily Pivot Point S3	106.83
Daily Pivot Point R1	107.99
Daily Pivot Point R2	108.26
Daily Pivot Point R3	108.57

Author

Flavio Tosti

Independent Analyst

EUR/USD looks sidelined below 1.1600

EUR/USD remains on the back foot in the latter part of the NA session on Thursday, now attempting a consolidative theme in the sub-1.1600 region. A more cautious market mood, driven by the escalating conflict in the Middle East, together with broad-based strength in the US Dollar, is favouring the continuation of the leg lower in spot.

GBP/USD stays offered near 1.3340

GBP/USD fades Wednesday’s uptick and trades with decent losses in the 1.3340 zone in the latter part of Thursday’s session. Cable’s weakness, alongside the rest of the risk complex, follows the strong performance of the Greenback amid intense geopolitical jitters.

Gold: further weakness could challenge $5,000

Gold comes under fresh selling pressure on Thursday, slipping back below the $5,100 mark per troy ounce. Persistent strength in the US Dollar (USD) is preventing the yellow metal from building a meaningful recovery, even as markets remain risk-averse amid the deepening conflict in the Middle East.

Crypto Today: Bitcoin, Ethereum, XRP hold weekly gains despite US-Iran war

The cryptocurrency market is gaining strength on Thursday, building on Wednesday's upswing, which saw Bitcoin reach a weekly high above $74,000. Ethereum and Ripple are moderating their recent gains amid uncertainty stemming from the escalating war in the Middle East.

Two PMIs, two Chinas

China’s economic data are often treated with a degree of caution by global investors. The challenge is not necessarily that the numbers are incorrect, but that they can describe very different parts of a vast and complex economy. Nowhere is that more evident than in China’s PMIs.

Ripple tests recovery strength amid steady ETF inflows, growing retail interest

Ripple (XRP) continues to demonstrate notable resilience as the cryptocurrency market navigates the persistent war in the Middle East after the United States (US) and Israel attacked Iran on Saturday.