USD/JPY drops from six-day highs and turns negative

Japanese yen gains momentum amid lower yields and as stocks move off highs.
USD/JPY flat for the day, hovering around 109.50/55.

Matías Salord FXStreet

The USD/JPY peaked after the beginning of the American session and following US economic data at 109.79, reaching the highest level since last Friday. Then it turned to the downside as US yields pulled back and as US stocks trimmed gains.

Recently USD/JPY bottomed at 109.41, and it is hovering around 109.50 modestly lower for the day. The US dollar is mixed across the board, with the DXY flat at 90.10/15.

The greenback is moving without a clear trend even after US economic data. The CPI (annual) reached 5%, the highest level since 2008, and initial jobless claims dropped less than expected, although hitting a fresh one-year low.

Yields initially rebounded with the 10-year hitting 1.53% and quickly turned again to the downside, approaching the recent low. The slide toward 1.48% in the 10-year yield weakened the greenback.

Technical levels

USD/JPY

Overview
Today last price	109.61
Today Daily Change	-0.01
Today Daily Change %	-0.01
Today daily open	109.62

Trends
Daily SMA20	109.34
Daily SMA50	109.17
Daily SMA100	107.94
Daily SMA200	106.25

Levels
Previous Daily High	109.66
Previous Daily Low	109.23
Previous Weekly High	110.33
Previous Weekly Low	109.33
Previous Monthly High	110.2
Previous Monthly Low	108.34
Daily Fibonacci 38.2%	109.49
Daily Fibonacci 61.8%	109.39
Daily Pivot Point S1	109.35
Daily Pivot Point S2	109.07
Daily Pivot Point S3	108.92
Daily Pivot Point R1	109.78
Daily Pivot Point R2	109.94
Daily Pivot Point R3	110.21

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

EUR/USD flirts with daily highs, retargets 1.1900

EUR/USD regains upside traction, returning to the 1.1880 zone and refocusing its attention to the key 1.1900 barrier. The pair’s slight gains comes against the backdrop of a humble decline in the US Dollar as investors continue to assess the latest US CPI readings and the potential Fed’s rate path.

GBP/USD remains well bid around 1.3650

GBP/USD maintains its upside momentum in place, hovering around daily highs near 1.3650 and setting aside part of the recent three-day drop. Cable’s improved sentiment comes on the back of the Greenback’s irresolute price action, while recent hawkish comments from the BoE’s Pill also collaborate with the uptick.

Gold clings to gains just above $5,000/oz

Gold is reclaiming part of the ground lost on Wednesday’s marked decline, as bargain-hunters keep piling up and lifting prices past the key $5,000 per troy ounce. The precious metal’s move higher is also underpinned by the slight pullback in the US Dollar and declining US Treasury yields across the curve.

Crypto Today: Bitcoin, Ethereum, XRP in choppy price action, weighed down by falling institutional interest

Bitcoin's upside remains largely constrained amid weak technicals and declining institutional interest. Ethereum trades sideways above $1,900 support with the upside capped below $2,000 amid ETF outflows.

Week ahead – Data blitz, Fed Minutes and RBNZ decision in the spotlight

US GDP and PCE inflation are main highlights, plus the Fed minutes. UK and Japan have busy calendars too with focus on CPI. Flash PMIs for February will also be doing the rounds. RBNZ meets, is unlikely to follow RBA’s hawkish path.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.