USD/JPY faces strong support around 133.00 – UOB

Pablo Piovano FXStreet

Further downside in USD/JPY should meet decent contention around the 133.00 region, note Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia.

Key Quotes

24-hour view: “We highlighted last Friday that while there is scope for USD to weaken, any decline is viewed as a lower trading range of 135.50/137.00. However, USD sold off sharply before extending its drop in Asian trade. The sharp drop appears to be overdone but with no signs of stabilization just yet, USD could weaken further. That said, the major support at 133.00 is likely out of reach today. On the upside, a breach of 135.50 (minor resistance is at 135.00) would indicate that the weakness in USD has stabilized.”

Next 1-3 weeks: “Last Friday (10 Mar, spot at 136.40), we held the view that USD ‘appears to have entered a consolidation phase’ and we expected it to trade within a range of 135.00/138.00. We did not anticipate the sharp selloff to 134.10. The sharp drop appears to be running ahead of itself but there is scope for USD to weaken further. At this stage, we expect any decline could be limited to 133.00. Overall, only a breach of the ‘strong resistance’ level at 136.40 would indicate that USD is not weakening further.”

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 extends its optimism past 1.1900

EUR/USD retains a firm underlying bid, surpassing the 1.1900 mark as the NA session draws to a close on Monday. The pair’s persistent uptrend comes as the US Dollar remains on the defensive, with traders staying cautious ahead of upcoming US NFP prints and CPI data.

GBP/USD tilts bullish as markets barrel toward mid-week NFP print

GBP/USD is holding a broader bullish structure on the daily chart, with price trading well above the 50 Exponential Moving Average at 1.3507 and the 200 EMA at 1.3310, confirming the intermediate uptrend that has been in place since the November 2025 low near 1.2300.

Gold pushes back above $5,000

The daily chart shows spot Gold in a parabolic uptrend that accelerated sharply from the $4,600 area in late January, printing a record high at $5,598.25 before a violent reversal erased nearly $1,000 in value during the final days of the month.

Litecoin eyes $50 as heavy losses weigh on investors

Following a strong downtrend across the crypto market over the past week, Litecoin holders are under immense pressure. The Bitcoin fork has trimmed about $1.81 billion from its market capitalization since the beginning of the year, sending it below the top 20 cryptos by market cap.

Japanese PM Takaichi nabs unprecedented victory – US data eyed this week

I do not think I would be exaggerating to say that Japanese Prime Minister Sanae Takaichi’s snap general election gamble paid off over the weekend – and then some. This secured the Liberal Democratic Party (LDP) an unprecedented mandate just three months into her tenure.

Ripple exposed to volatility amid low retail interest, modest fund inflows

Ripple (XRP) is extending its intraday decline to around $1.40 at the time of writing on Monday amid growing pressure from the retail market and risk-off sentiment that continues to keep investors on the sidelines.