USD/JPY Technical Analysis: 112.60 bull target achieved - Next objective is the 113.00 figure

Flavio Tosti Independent Analyst

USD/JPY daily chart

USD/JPY is in a bull trend above the 200-day simple moving average (SMA).
As forecast, USD/JPY hit the 112.60 target.

USD/JPY 4-hour chart

USD/JPY is trading below its main SMAs.
USD/JPY found some support at the November lows and the 112.20 level.

USD/JPY 30-minute chart

USD/JPY found some short-term resistance at the 50 SMA.
The next bull target should be the 113.00 figure.

Additional key levels

USD/JPY

Overview:
    Today Last Price: 112.68
    Today Daily change: -54 pips
    Today Daily change %: -0.477%
    Today Daily Open: 113.22
Trends:
    Previous Daily SMA20: 113.35
    Previous Daily SMA50: 113.09
    Previous Daily SMA100: 112.25
    Previous Daily SMA200: 110.52
Levels:
    Previous Daily High: 113.24
    Previous Daily Low: 112.65
    Previous Weekly High: 114.04
    Previous Weekly Low: 112.88
    Previous Monthly High: 114.25
    Previous Monthly Low: 112.3
    Previous Daily Fibonacci 38.2%: 113.02
    Previous Daily Fibonacci 61.8%: 112.88
    Previous Daily Pivot Point S1: 112.83
    Previous Daily Pivot Point S2: 112.44
    Previous Daily Pivot Point S3: 112.24
    Previous Daily Pivot Point R1: 113.43
    Previous Daily Pivot Point R2: 113.63
    Previous Daily Pivot Point R3: 114.02

Author

Flavio Tosti

Independent Analyst

EUR/USD keeps the rangebound trade near 1.1850

EUR/USD is still under pressure, drifting back towards the 1.1850 area as Monday’s session draws to a close. The modest decline in spot comes as the US Dollar picks up a bit of support, while thin liquidity and muted volatility, thanks to the US market holiday, are exaggerating price swings and keeping trading conditions choppy.

GBP/USD trades with negative bias, eyes 1.3600 ahead of UK jobs data

The GBP/USD pair trades with a negative bias for the second straight day, though it lacks bearish conviction and holds above the 1.3600 mark through the Asian session on Tuesday. Traders now look forward to the release of the UK monthly jobs report, which will influence the British Pound and provide some impetus to the currency pair.

Gold sticks to a negative bias below $5,000; lacks bearish conviction

Gold remains depressed for the second consecutive day and trades below the $5,000 psychological mark during the Asian session on Tuesday, as a positive risk tone is seen undermining safe-haven assets. Meanwhile, bets for more interest rate cuts by the Fed keep a lid on the recent US Dollar bounce and act as a tailwind for the non-yielding bullion, warranting caution for bearish traders ahead of FOMC minutes on Wednesday.

AI Crypto Update: Bittensor eyes breakout as AI tokens falter

The artificial intelligence (AI) cryptocurrency segment is witnessing heightened volatility, with top tokens such as Near Protocol (NEAR) struggling to gain traction amid the persistent decline in January and February.

US CPI is cooling but what about inflation?

The January CPI data give the impression that the Federal Reserve is finally winning the war against inflation. Not only was the data cooler than expected, but it’s also beginning to edge close to the mystical 2 percent target. CBS News called it “the best inflation news we've had in months.”

XRP steadies in narrow range as fund inflows, futures interest rise

Ripple is trading in a narrow range between $1.45 (immediate support) and $1.50 (resistance) at the time of writing on Monday. The remittance token extended its recovery last week, peaking at $1.67 on Sunday from the weekly open at $1.43.