USD/JPY challenging session tops near 105.20

The pair managed to regain 105.00 and above and now tests daily highs.
USD remains weak within a generalized risk-off sentiment.
Yields US 10-year reference navigating highs around 2.83%.

Pablo Piovano FXStreet

USD/JPY has now gathered some upside traction and is now testing the area of daily peaks in the 105.15/20 band.

USD/JPY weaker on US tariffs

Spot plummeted to fresh YTD lows near 104.60 in early trade following heightened risk aversion after President Trump announced $60 billion tariffs on US imports from China.

The move sparked a sell off in the riskier assets and pushed the VIX index (‘panic indicator’) to fresh tops beyond the 25.00 mark, all collaborating in fresh demand for the safe haven JPY.

The ongoing rebound has been in tandem with the bounce off session lows in yields of the key US 10-year reference, flirting with 2.84% after bottoming in sub-2.80% levels.

In the data space, US Durable Goods Orders expanded more than expected in February and New Home Sales came in below estimates at 618K units, or down 0.6%.

USD/JPY levels to consider

As of writing the pair is losing 0.11% at 105.16 facing the next support at 104.65 (2018 low Mar.22) followed by 102.54 (low Nov.3 2016) and finally 101.15 (low Nov.9 2016). On the other hand, a breakout of 106.08 (10-day sma) would open the door to 106.29 (21-day sma) and then 106.64 (high Mar.21).

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 tests nine-day EMA support near 1.1850

EUR/USD remains in the negative territory for the fourth successive session, trading around 1.1870 during the Asian hours on Friday. The 14-day Relative Strength Index momentum indicator at 56 stays above the midline, confirming steady momentum. RSI has eased but remains above 50, indicating momentum remains constructive for the bulls.

GBP/USD consolidates around 1.3600 vs. USD; looks to US CPI for fresh impetus

The GBP/USD pair remains on the defensive through the Asian session on Friday, though it lacks bearish conviction and holds above the 1.3600 mark as traders await the release of the US consumer inflation figures before placing directional bets.

Gold: Will US CPI data trigger a range breakout?

Gold retakes $5,000 early Friday amid a turnaround from weekly lows as US CPI data loom. The US Dollar consolidates weekly losses as AI concerns-driven risk-off mood stalls downside. Technically, Gold appears primed for a big range breakout, with risks skewed toward a bullish break.

Bitcoin, Ethereum and Ripple stay weak as bearish momentum persists

Bitcoin, Ethereum and Ripple remain under pressure, extending losses of over 5%, 6% and 4%, respectively, so far this week. BTC trades below $67,000 while ETH and XRP correct after facing rejection around key levels. With bearish momentum persisting and prices staying weak, the top three cryptocurrencies continue to show no clear signs of a sustained recovery.

A tale of two labour markets: Headline strength masks underlying weakness

Undoubtedly, yesterday’s delayed US January jobs report delivered a strong headline – one that surpassed most estimates. However, optimism quickly faded amid sobering benchmark revisions.

Aster Price Forecast: Demand sparks on Binance Wallet partnership for on-chain perpetuals

Aster is up roughly 9% so far on Thursday, hinting at the breakout of a crucial resistance level. Aster partners up with Binance wallet for the second season of the on-chain perpetuals challenge.