USD/JPY technical analysis: Greenback is challenging Tuesday's highs ahead of the FOMC Minutes

USD/JPY is trading at daily highs challenging the 107.40 resistance.
The FOMC Minutes are scheduled at 18:00 GMT; the news can lead to some volatility in USD-related currency pairs.

Flavio Tosti Independent Analyst

USD/JPY daily chart

USD/JPY is trading in a bear trend below the 100 and 200-day simple moving averages (DSMAs). However, the market is trying to find some support near the 50 SMA at the 106.90 level. The FOMC Minutes are scheduled at 18:00 GMT. The news can lead to some volatility in USD-related currency pairs.

USD/JPY four-hour chart

USD/JPY is challenging the 107.40 resistance and the 50 SMA on the four-hour chart. A break above the level can lead to the 107.70 resistance on the way up, according to the Technical Confluences Indicator.

USD/JPY 30-minute chart

The USD/JPY currency pair is trading above its main SMAs, suggesting bullish momentum in the near term. Immediate supports are seen at the 107.20 and 107.00 price levels, according to the Technical Confluences Indicator.

Additional key levels

USD/JPY

Overview
Today last price	107.36
Today Daily Change	0.28
Today Daily Change %	0.26
Today daily open	107.08

Trends
Daily SMA20	107.68
Daily SMA50	106.93
Daily SMA100	107.64
Daily SMA200	109.08

Levels
Previous Daily High	107.45
Previous Daily Low	106.8
Previous Weekly High	108.48
Previous Weekly Low	106.48
Previous Monthly High	108.48
Previous Monthly Low	105.74
Daily Fibonacci 38.2%	107.05
Daily Fibonacci 61.8%	107.2
Daily Pivot Point S1	106.78
Daily Pivot Point S2	106.47
Daily Pivot Point S3	106.13
Daily Pivot Point R1	107.42
Daily Pivot Point R2	107.75
Daily Pivot Point R3	108.06

Author

Flavio Tosti

Independent Analyst

GBP/USD loses momentum, flirts with 1.3200

GBP/USD is struggling to maintain its positive bias on Thursday, retreating toward the 1.3200 region in response to the pick in the buying interest around the Greenback. That said, Cable remains under scrutiny as cautious market sentiment keeps investors focused on the US-Iran conflict and political effervescence in the UK.

EUR/USD trims gains, challenges 1.1400

EUR/USD now gives away part of its earlier advance, receding toward the 1.1400 contention zone on Thursday. Meanwhile, the pair’s recovery comes amid extra losses in the US Dollar, at the time when while investors continue to monitor developments in the Middle East and sentiment surrounding global technology stocks.

Gold remains bid and close to $4,100

Gold accelerates its recovery and approaches the key $4,000 mark per troy ounce at the end of the week, adding to Thursday’s advance. However, expectations for a hawkish Fed remain steady and keep the yellow metal’s potential upside contained.

Crypto Today: Bitcoin at $60,000, Ethereum at $1,500, and XRP at $1 face a make-or-break test

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are trading in the red on Friday after three consecutive days of losses, testing their respective make-or-break support levels.

Week ahead – NFP report to challenge Dollar strength and the hawkish Fed

Dollar strength dominates markets, as the hawkish Fed overshadows geopolitics and lower oil prices. NFP week could drive September Fed hike expectations and boost market volatility. The euro lacks fresh bullish catalysts, all eyes on the preliminary inflation report and the ECB Forum.

Regime change: Inside Kevin Warsh's first move to make the Fed unreadable on purpose

The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.