USD/JPY rallies hard towards 112.80

Ross J Burland FXStreet

Currently, USD/JPY is trading at 112.72, up 0.57% on the day, having posted a daily high at 112.79 and low at 111.92.

Fed's Kaplan: Sooner rather than later means in the "near future"

Yields and the US dollar is bid into the final stages of the US session and USD/JPY has taken off. USD/JPY rallied on Trump earlier, has been supported by Fed speak and bulls have reemerged with the Yen taking a big hit across the board. EUR/JPY is through key technical levels and onto the 119 handle and has reversed the 119.49 sell-off. USD/JPY still have some work to do to cover the same ground to 112.90.

Yen comes with mixed sentiment fundamentally - Scotiabank

USD/JPY levels

Only below 111.59 would introduce scope to Fibonacci support at 109.92 and, if seen, the 200-day ma at 107.69, explained analysts at Commerzbank, adding, " We look for this to hold (this is also the 50% retracement of the move up from November). However this is not our favoured view - we also note that the recent move lower continues to indicate that this is the end of the corrective move." There are no real significant support levels ahead of the 200-day MA at 107.69 and to the upside, 114.94 is the Feb high.

Bullish on the greenback - Scotiabank

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 flirts with daily highs, retargets 1.1900

EUR/USD regains upside traction, returning to the 1.1880 zone and refocusing its attention to the key 1.1900 barrier. The pair’s slight gains comes against the backdrop of a humble decline in the US Dollar as investors continue to assess the latest US CPI readings and the potential Fed’s rate path.

GBP/USD remains well bid around 1.3650

GBP/USD maintains its upside momentum in place, hovering around daily highs near 1.3650 and setting aside part of the recent three-day drop. Cable’s improved sentiment comes on the back of the Greenback’s irresolute price action, while recent hawkish comments from the BoE’s Pill also collaborate with the uptick.

Gold clings to gains just above $5,000/oz

Gold is reclaiming part of the ground lost on Wednesday’s marked decline, as bargain-hunters keep piling up and lifting prices past the key $5,000 per troy ounce. The precious metal’s move higher is also underpinned by the slight pullback in the US Dollar and declining US Treasury yields across the curve.

Crypto Today: Bitcoin, Ethereum, XRP in choppy price action, weighed down by falling institutional interest

Bitcoin's upside remains largely constrained amid weak technicals and declining institutional interest. Ethereum trades sideways above $1,900 support with the upside capped below $2,000 amid ETF outflows.

Week ahead – Data blitz, Fed Minutes and RBNZ decision in the spotlight

US GDP and PCE inflation are main highlights, plus the Fed minutes. UK and Japan have busy calendars too with focus on CPI. Flash PMIs for February will also be doing the rounds. RBNZ meets, is unlikely to follow RBA’s hawkish path.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.