USD/JPY hovers near 10-month highs

Ani Salama FXStreet

The yen is among the worst performers in an environment of broad USD strength in the wake of ECB decision.

USD/JPY broke above the 115.00 level on Friday, extending gains into a second straight day, and reached a 10-day peak of 115.26. At time of writing, the pair is trading at 115.20, recording a 1.04% gain on the day and on track to post its fifth weekly advance in a row.

There were no major data releases on Friday, leaving price action mostly driven by post-ECB flows.

USD/JPY technical levels

As for technical levels, next resistances for USD/JPY are seen at 115.26 (Dec 9 high), 115.84 (Fed 9 high) and 116.00 (psychological level). On the other hand, supports could be found at 113.99 (Dec 9 low), 113.69 (10-day SMA), 112.85 (Dec 5 low) and 112.05 (Nov 30 low).

USDJPY from Tip TV Productions on Vimeo.

Author

Ani Salama

FXStreet

Ani Salama is an Economist specialized in financial markets and statistics analysis. In 2010, she joined FXstreet where she now contributes with the news section.

EUR/USD recedes to daily lows near 1.1850

EUR/USD keeps its bearish momentum well in place, slipping back to the area of 1.1850 to hit daily lows on Monday. The pair’s continuation of the leg lower comes amid decent gains in the US Dollar in a context of scarce volatility and thin trade conditions due to the inactivity in the US markets.

GBP/USD resumes the downtrend, back to the low-1.3600s

GBP/USD rapidly leaves behind Friday’s decent advance, refocusing on the downside and retreating to the 1.3630 region at the beginning of the week. In the meantime, the British Pound is expected to remain under the microscope ahead of the release of the key UK labour market report on Tuesday.

Gold looks inconclusive around $5,000

Gold partially fades Friday’s strong recovery, orbiting around the key $5,000 region per troy ounce in a context of humble gains in the Greenback on Monday. Additing to the vacillating mood, trade conditions remain thin amid the observance of the Presidents Day holiday in the US.

Bitcoin consolidates as on-chain data show mixed signals

Bitcoin price has consolidated between $65,700 and $72,000 over the past nine days, with no clear directional bias. US-listed spot ETFs recorded a $359.91 million weekly outflow, marking the fourth consecutive week of withdrawals.

The week ahead: Key inflation readings and why the AI trade could be overdone

It is likely to be a quiet start to the week, with US markets closed on Monday for Presidents Day. European markets are higher across the board and gold is clinging to the $5,000 level after the tamer than expected CPI report in the US reduced haven flows to precious metals.

Monero Price Forecast: XMR risks a drop below $300 under mounting bearish pressure

Monero (XMR) starts the week under pressure, recording a 4% decline at press time on Monday after a 7% drop the previous day, putting the $300 support zone in focus.