USD/JPY Price Analysis: Bulls move in on 135 the figure

USD/JPY is on the front side of the bullish trend and testing key resistance.
Bulls eye a break of 135.11 while bears eye 132.80.

Ross J Burland FXStreet

USD/JPY rallied by 0.5% on the day and traveled between a low of 133.95 and a high of 135.13. The US Dollar strengthened on Wednesday, lifted by rising Treasury yields with the yield on two-year Treasury notes, which are sensitive to expectations for the US central bank's monetary policy, added hit a one-month high of 4.286%. This is seeing USD/JPY rally towards 135.11 on the front side of the bullish trend as the following illustrates:

The market has been carving out a bullish bias for the best part of April so far and a break of the 135.11s opens risk to the 137s.

USD/JPY H4 chart

A break below 134.28 and 133.83 opens the risk thereafter towards the 133.20s.

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 trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.