USD/JPY unstoppable, at highest level since August 1990 above 148.40

Japanese yen continues its decline across the board.
USD/JPY at levels not seen since 1990, approaches 150.00.
Intervention is unlikely over the next hours but Monday is another story.

Matías Salord FXStreet

The USD/JPY rose further during the American session and printed a fresh 32-year high around the 148.50 area. US economic data showed increased inflation expectations and boosted the pair further.

The University of Michigan Consumer Confidence report showed an increase in long-term inflation expectation from 2.7% to 2.9%, triggering a new run in US yields that weighed on the Japanese yen.

No matter what, USD/JPY keeps going up

The USD/JPY is about to post the ninth weekly gain in a row. Since mid-August, it has risen by more than 1500 pips and there are no signs of stopping. Neither the intervention from the Bank of Japan/Finance Minister nor the threats of more action alleviated the bearish pressure.

The divergence between the ultra-accommodative Bank of Japan and the tightening from the Federal Reserve (and many more central banks) is being ratified daily, leading to an everyday gain in USD/JPY.

No intervention seems likely over the following hours, even as the USD/JPY approaches 150.00. On Monday, the story could be a different one.

Technical levels

USD/JPY

Overview
Today last price	148.45
Today Daily Change	1.32
Today Daily Change %	0.90
Today daily open	147.13

Trends
Daily SMA20	144.59
Daily SMA50	140.84
Daily SMA100	137.77
Daily SMA200	129.32

Levels
Previous Daily High	147.67
Previous Daily Low	146.45
Previous Weekly High	145.44
Previous Weekly Low	143.53
Previous Monthly High	145.9
Previous Monthly Low	138.78
Daily Fibonacci 38.2%	147.21
Daily Fibonacci 61.8%	146.92
Daily Pivot Point S1	146.5
Daily Pivot Point S2	145.86
Daily Pivot Point S3	145.27
Daily Pivot Point R1	147.72
Daily Pivot Point R2	148.31
Daily Pivot Point R3	148.94

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

AUD/USD bulls regain control above 0.6950 amid USD retreat

AUD/USD regains traction and extends the previous day's bounce from the weekly low, aiming for 0.7000 in Asia on Friday. The overnight pullback in US bond yields keeps the US Dollar below an 18-month high, which in turn offers some support to the pair. Meanwhile, hawkish RBA expectations also keep the major underpinned.

USD/JPY holds gains near 158.00 after Japan's weak Household Spending data

USD/JPY clings to gains around 158.00 after data showed on Friday that Japan's Household Spending fell for the ninth straight month, undermining the Japanese Yen. Meanwhile, the US Dollar remains depressed as the overnight fall in US bond yields counters a hawkish Fed and geopolitical uncertainties, could cap any downside in the pair.

Gold remains range-bound below $4,200

Gold has given up some ground after an initial bullish attempt to reach weekly highs, returning to below the $4,200 mark per troy ounce on Friday. The US Dollar’s strong upside momentum, combined with rising US Treasury yields across the curve, seems to keep further gains in the yellow metal under scrutiny.

Has Bitcoin really escaped the macro forces it was built to fight?

Over 17 years ago, Satoshi Nakamoto designed Bitcoin (BTC) on the back of a global financial crisis as an alternative to the global monetary system outside the control of central banks, governments and traditional intermediaries. This raises a key question: has Bitcoin really become independent of the macroeconomic forces it was built to challenge?

The Euro is not the sick man of Europe. France's bond market is

EUR/USD remains under pressure, near the 17-month low of 1.1161 reached on Monday. The pair has lost more than 7% since its yearly peak, as concerns over France's public finances increasingly weigh on the single currency. But behind the weakness of the Euro (EUR), the problem does not necessarily lie with the European economy as a whole.