USD/JPY pushes higher to 111.70, 3-day tops

Pablo Piovano FXStreet

The Japanese Yen continues to depreciate at the beginning of the week, now lifting USD/JPY to the area of 111.70, multi-day peaks.

USD/JPY up on US yields

Spot is moving higher on Monday propped up by the solid performance of US yields, with the 10-year reference retaking the 2.16% level and above for the time being.

In addition, the greenback – when tracked by the US Dollar Index (DXY) – is looking to gain extra traction above the 97.00 limestone, all collaborating with the pair’s upside.

USD/JPY is thus reverting a 4-session negative streak so far today, approaching the 111.8-0 region, where sit the 100-day sma and recent tops.

USD/JPY levels to consider

As of writing the pair is gaining 0.33% at 111.66 and a breakout of 111.81 (100-day sma/high Jun.20) would open the door to 112.12 (high May 24) and finally 112.26 (61.8% Fibo of the May-June drop). On the other hand, the next support is located at 111.08 (55-day sma) followed by 110.96 (200-day sma) and then 110.67 (20-day sma).

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.

AUD/USD sticks to positive bias above 0.7100; lacks bullish conviction

AUD/USD trades with a positive bias for the second straight day, holding above 0.7100 in the Asian session on Friday as softer US bond yields keep US Dollar bulls on the back foot. Furthermore, hawkish RBA Governor Bullock's comments boost rate hike bets and support the Aussie. However, the Fed's hawkish outlook, along with geopolitical uncertainties, limits USD losses and caps the pair.

USD/JPY approaches 158.00 as Japanese Yen resumes decline

USD/JPY is resuming its upside in the European session on Friday, refreshing two-week highs and nearing 158.00. The Japanese Yen extends losses, despite the Bank of Japan's (BoJ) expected rate hike to 1.25% and hawkish Governor Ueda's comments, as two surprise dissents against the rate hike weigh on it.

Gold keeps the bid tone in place; still below $4,400

Gold adds to the optimism seen in the second half of the week, trading with decent gains just below the $4,400 mark per troy ounce on Friday. The precious metal’s advance finds traction in declining crude oil prices and fresh selling pressure on the US Dollar.

Why altcoin season isn't coming back — and what stole its capital

If, after two years of being frozen in ice, Katara and Sokka woke you up to the crypto market, it would seem like 100 years have passed. With Bitcoin soaring to record highs just over a year ago, everyone expected a routine altcoin season, where investors take profits from the top crypto to chase higher returns in altcoins.

BoJ Recap: Not as hawkish as expected

The BoJ raised its short-term interest-rate target to 1.25% from 1.00% in a 7-2 vote, marking another step in the normalisation of monetary policy and widely matching what everyone has been expecting for weeks. Governor Kazuo Ueda said the policy phase had changed.

BoJ Recap: Not as hawkish as expected

The Bank of Japan (BoJ) raised its short-term interest-rate target to 1.25% from 1.00% in a 7-2 vote, marking another step in the normalisation of monetary policy and widely matching what everyone has been expecting for weeks.