USD/JPY steadily climbs to session tops, around 109.15-20 region

USD/JPY reversed an Asian session dip to sub-109.00 levels, closer to weekly lows.
COVID-19 crisis in Japan, the risk-on mood continued weighing on the safe-haven JPY.
An uptick in the US bond yields remained supportive; weaker USD might cap the upside.
Friday’s key focus will remain on the closely-watched US monthly jobs report, or NFP.

Haresh Menghani FXStreet

The USD/JPY pair has managed to recover around 20-25 pips from the Asian session lows and was last seen trading near the 109.15 region, or daily tops.

The pair attracted some dip-buying on the last trading day of the week and reverse an intraday dip to sub-109.00 level. This marks the first day of a positive move in the previous two and was sponsored by a combination of factors.

Worries that the recent surge in COVID-19 cases could hinder Japan's fragile economic recovery continued acting as a headwind for the Japanese yen. This, in turn, was seen as a key factor that extended some support to the USD/JPY pair.

In the latest development, Japanese Economy Minister Yasutoshi Nishimura said this Friday that the advisory panel agreed to extend the covid-induced state of emergence until the end of May while expanding the coverage to other prefectures.

Apart from this, the underlying bullish sentiment in the financial markets further undermined the safe-haven JPY and provided a modest lift to the USD/JPY pair. Bullish traders further took cues from a goodish pickup in the US Treasury bond yields.

That said, the prevalent selling bias surrounding the US dollar might keep a lid on any runaway rally for the USD/JPY pair. Investors might also refrain from placing aggressive bets ahead of Friday's release of the closely-watched US jobs report.

Looking at the technical picture, the USD/JPY pair has been oscillating in a range over the past four trading sessions. This further makes it prudent to wait for a sustained move in either direction before positioning for the near-term trajectory.

Technical levels to watch

USD/JPY

Overview
Today last price	109.15
Today Daily Change	0.06
Today Daily Change %	0.06
Today daily open	109.09

Trends
Daily SMA20	108.76
Daily SMA50	108.86
Daily SMA100	106.57
Daily SMA200	105.86

Levels
Previous Daily High	109.43
Previous Daily Low	109
Previous Weekly High	109.37
Previous Weekly Low	107.64
Previous Monthly High	110.85
Previous Monthly Low	107.48
Daily Fibonacci 38.2%	109.16
Daily Fibonacci 61.8%	109.27
Daily Pivot Point S1	108.92
Daily Pivot Point S2	108.75
Daily Pivot Point S3	108.49
Daily Pivot Point R1	109.34
Daily Pivot Point R2	109.6
Daily Pivot Point R3	109.77

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 softens below 1.1800 on Fed hawkish remarks

The EUR/USD pair edges lower to around 1.1775 during the early Asian session on Wednesday, pressured by a renewed US Dollar demand. Traders await the US President Donald Trump's State of the Union address later on Wednesday for clarity on fiscal policies.

GBP/USD regains 1.3500 and above

GBP/USD extends its advance for the third day in a row on Tuesday, this time retesting the area beyond the 1.3500 hurdle. Cable’s uptick comes despite decent gains in the Greenback and the dovish message from the BoE’s Bailey at the UK Parliament.

Gold consolidates below $5,150 as traders await Trump's State of the Union address

Gold steadies below the $5,150 level following the previous day's pullback from the monthly peak as traders opt to wait on the sidelines ahead of Trump's State of the Union address. In the meantime, trade-related uncertainties and geopolitical risks seem to act as a tailwind for the safe-haven bullion. However, the Fed's less hawkish outlook underpins the US Dollar, which, along with a positive risk tone, caps the upside for the non-yielding yellow metal.

Coinbase launches stocks and ETF trading amid ongoing plans for all-in-one platform

Coinbase has launched stocks and ETF trading for US customers on its platform, according to an X post on Tuesday. The service offers commission-free trading available 24 hours a day, five days a week, for eligible securities. Traders deposit US dollars or USDC to fund positions and access fractional shares as low as $1.

The Citrini report: How a debatable AI narrative can shake Wall Street

That AI-related headline alone was enough to rattle investors.US stocks slid sharply on Monday after a widely circulated Citrini Research memo outlined a hypothetical “2028 Global Intelligence Crisis”, warning that rapid AI adoption could push US unemployment into double digits as early as by mid-2028.

XRP pressured by weak ETF flows and declining retail interest

Ripple (XRP) is edging lower, trading above its intraday low of $1.32 at the time of writing on Tuesday. The decline from its weekly opening of $1.39 reflects heightened volatility in the broader cryptocurrency market, accentuated by tariff-triggered uncertainty.