USD/JPY jumps to near 1-month highs, now eyeing 111.00 mark

Haresh Menghani FXStreet

The USD/JPY pair extended its bullish trajectory for the fourth consecutive session and jumped to nearly one-month highs during early Asian session on Thursday.

Overnight news that the US tax reform guidance would be announced by September 25 reignited optimism over the US President Donald Trump's pro-growth economic agenda and provided an additional boost to the US Dollar's strong recovery move.

Meanwhile, fading safe-haven demand, on easing geopolitical concerns despite North Korea’s rejection of the new sanctions imposed by the UN Security Council, remained supportive of the pair's strong upsurge of nearly 350-pips from 10-month low level of 107.30 touched last Friday.

Meanwhile, the market seem to have largely ignored Wednesday's PPI report, which undershot expectations ahead of the key consumer inflation data due for release later during the NA session on Thursday.

• US CPI data preview - Nomura

Technical levels to watch

A follow through buying interest beyond 110.75 level could assist the pair to aim towards reclaiming the 111.00 handle, above which the recovery is likely to get extended towards the next major hurdle near the 111.75-80 region.

On the flip side, any profit taking slide below 110.40 level now seems to find support near 110.25 level, which if broken could accelerate the fall even below the key 110.00 psychological mark towards its next support near 109.70-60 horizontal zone.

Author

Haresh Menghani

FXStreet

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

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.