USD/JPY to see further gains above the 104.40 monthly high

FXStreet Team FXStreet

USD/JPY is trading around 104.00, also around the 23.6% retracement of its January advance, as a better market mood helped the pair to recover some ground. USD/JPY is technically neutral and needs to advance past 104.40 to gain further traction, FXStreet’s Chief Analyst Valeria Bednarik briefs.

Key quotes

“The market’s mood is in better shape this Tuesday, weighing on safe-haven dollar and yen. The sentiment was boosted by comments from former Fed’s chair Janet Yellen, who has been nominated by Joe Biden as Treasury Secretary. Yellen is meant to speak in front of the Senate Finance Committee. Her prepared remarks are already out, showing that she believes that is time to ‘act big,’ spend now and worry about deficits later.”

“In the 4-hour chart, the USD/JPY pair has advanced above all of its moving averages, which anyway remain directionless. Technical indicators recovered to above their midlines but quickly lost directional strength, indicating limited buying interest.”

“A long-term descendant trend line offers resistance in the 104.30 area, while the monthly high has been set at 104.39.”

Author

FXStreet Team

FXStreet

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Breaking: US and Israel attack Iran, risk aversion to sweep global markets

Early Saturday, United States (US) President Donald Trump announced that the US had begun “major combat operations” in Iran, following Israel’s pre-emptive missile attacks against Tehran.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.