USD/JPY bears remain in control in Tokyo, eyes now on 109.10

Ross J Burland FXStreet

USD/JPY is currently trading at 1110.52 with a high of 111.39 and a low of 110.41.

BOJ Summary of Opinions – Appropriate to pursue powerful monetary easing

USD/JPY dropped at the start of this week following the weekend news and headlines around the US House of Representatives unable to agree on an alternative to the Affordable Care Act. The dollar was sold off across the board but most notably vs the yen and euro.

The dollars initial reaction last week on the news was mixed, perhaps due to the prospect of bringing forward tax reform may have appeased investors. However, the market's main concern is whether Trump has the ability to get other key parts of his agenda, including tax cuts and a boost in infrastructure spending, through Congress or has the capacity to govern effectively.

A major setback for the Trump trade - ANZ

USD/JPY levels

USD/JPY is now vulnerable to further weakness to 109.10 the 50% retracement and the 108.21 200 day ma according to analysts at Commerzbank." Note the 200 week ma lies at 110.11 and the 55 week ma lies at 108.55.Please also note that the Elliott wave count on the daily chart suggests that this is the end of the down move." However, the analysts explained that rallies will find initial resistance at 113.50/63 on the wide but said that only above 115.62, would they look for a challenge to the key short term resistance offered by the 16-month resistance line at 117.55.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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.

Crypto Today: Bitcoin, Ethereum, XRP come under renewed pressure amid ETF outflows, tariff uncertainty

Bitcoin, Ethereum and Ripple are trading under increasing selling pressure at the time of writing on Tuesday, as market participants navigate renewed tariff uncertainty. The Crypto King holds above $63,000, down 2% intraday from its $64,656 open.

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.