TRENDING:

GBP/USD

XAU/USD

USD/JPY drops to fresh session lows, 106.00 mark back on sight

Haresh Menghani FXStreet

• JPY underpinned by slightly better Japanese unemployment rate.
• Subdued USD demand fails to lend any support and stall the downfall.
• Investors look forward to next week’s key releases for fresh impetus.

The USD/JPY pair extended its rejection slide from the 107.00 handle and continued losing ground for the second consecutive session on Friday.

The pair met with some fresh supply following the release of a slightly better-than-expected Japanese unemployment rate, which to a larger extent offset softer Tokyo Core CPI and prelim Japanese industrial production figures.

This coupled with a subdued US Dollar demand, amid holiday thinned liquidity conditions, did little to lend any support and stall the pair's slide to the 106.20-15 band.

With most major global markets shut to celebrate the Easter long weekend, the pair now seems more likely to enter a consolidation phase ahead of next week's important macro releases, including the keenly watched NFP, scheduled at the start of a new month.

Technical levels to watch

Bulls might try and defend the 106.00 handle, below which the pair could drop back towards retesting the 105.40 horizontal support. On the upside, 106.60 level now seems to act as an immediate resistance, which if cleared could assist the pair to make a fresh attempt towards conquering the 107.00 handle.

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD gathers strength above 1.1750 as Fed rate cut prospects pressure US Dollar

The EUR/USD pair trades in positive territory around 1.1775 during the early Asian session on Monday. The prospect of a US Federal Reserve rate cut in 2026 weighs on the US Dollar against the Euro. Markets brace for US President Donald Trump to nominate a Fed chair to replace Jerome Powell, whose term ends in May.

GBP/USD edges lower near 0.7400, eyes Fed rate cut outlook

GBP/USD edges lower after a gap-up open, trading around 0.7410 during the Asian hours on Monday. However, the pair may gain ground as the US Dollar faces challenges, which could be attributed to growing expectations of two more rate cuts by the Federal Reserve in 2026.

Gold retreats from record highs, trades below $4,500

Gold retreats after setting a new record-high above $4,520 earlier in the day and trades in a tight range below $4,500 as trading volumes thin out ahead of the Christmas break. The US Dollar selling bias remains unabated on the back of dovish Fed expectations, which continues to act as a tailwind for the bullion amid persistent geopolitical risks.

Bitcoin slips below $87,000 as ETF outflows intensify, whale participation declines

Bitcoin price continues to trade around $86,770 on Wednesday, after failing to break above the $90,000 resistance. US-listed spot ETFs record an outflow of $188.64 million on Tuesday, marking the fourth consecutive day of withdrawals.

Economic outlook 2026-2027 in advanced countries: Solidity test

After a year marked by global economic resilience and ending on a note of optimism, 2026 looks promising and could be a year of solid economic performance. In our baseline scenario, we expect most of the supportive factors at work in 2025 to continue to play a role in 2026.

Avalanche struggles near $12 as Grayscale files updated form for ETF

Avalanche trades close to $12 by press time on Wednesday, extending the nearly 2% drop from the previous day. Grayscale filed an updated form to convert its Avalanche-focused Trust into an ETF with the US Securities and Exchange Commission.

Legal Text

Markets move fast. We move first.

Editor's Picks

Best Brokers in 2025