USD/JPY Price Analysis: Bulls and bears in battle between key territories

USD/JPY bias remains bearish and a fade on rallies could be in store.
Bulls eye a move towards 137.50 and then a break of 138.00.

Ross J Burland FXStreet

As per the prior analysis, USD/JPY Price Analysis: Bears eye a break of key support structures, USD/JPY sank into the proposed area of support as the following will illustrate:

USD/JPY prior analysis

USD/JPY was trading on the back side of the daily trend lines which exposed 135.80 on the downside and below.

The bears were embarking on an equal low as seen more easily on the following zoomed-in chart:

It was stated that there would be liquidity in here that could lead to a move back into the horizontal resistance. However, it was stated, that so long as the 139 area held, the emphasis would remain on the downside. A break of 135.80 opened risk to the lower end of the 133 area:

USD/JPY update

Bulls now eye 137.50:

The price could now be embarking on a move beyond 138.00 but resistance needs to give. While on the front side of the micro trendlines, the bias remains bearish and a fade on rallies could be in store.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

EUR/USD clings to gains around 1.1800

EUR/USD manages to regain composure and retests the 1.1800 region in quite a positive start to the week. The pair’s bounce follows the US Dollar’s offered stance post-SCOTUS ruling ahead of important US data and Fedspeak on Tuesday.

GBP/USD looks stuck around 1.3500 amid firm gains

GBP/USD is pushing further north on Monday, revisiting the 1.3500 hurdle and beyond. Cable’s uptick is largely being fuelled by the broader softness in the Greenback, amid lingering uncertainty around tariffs.

Gold pops above $5,200, four-week highs

Gold is holding onto its bullish tone on Monday, reaching new multi-week highs just past the $5,200 mark per troy ounce. Fresh trade-war concerns, coupled with rising geopolitical tensions in the Middle East, are keeping demand for the yellow metal well on the rise.

Ethereum Price Forecast: BitMine's holdings reach 4.42 million ETH as Fundstrat predicts 87% win-ratio

Ethereum (ETH) treasury firm BitMine Immersion Technologies (BMNR) scooped up 51,162 ETH last week, marking its largest purchase since December.

Supreme Court nixes tariffs, Trump teases 15% global tariff

On February 20th, the Supreme Court ruled that Trump’s global tariffs under IEEPA authority were unconstitutional, effectively nullifying the framework. However, the relief was short-lived. Within hours, Trump floated a 15% blanket tariff under an alternative legal authority.

XRP recovers slightly as bearish sentiment dominates crypto market

Ripple is rising above $1.40 at the time of writing on Monday amid fresh tariff-triggered headwinds in the broader cryptocurrency market. The sell-off to $1.33, the token’s intraday low, can be attributed to macroeconomic uncertainty, geopolitical tensions and risk-averse sentiment among other factors.