XRP is in wave II correction after the end of wave I. ABC Flat correction wave is expected to fall to the Key Support (1.62364 USD). If the price reverses from the support, it could be the start of wave III.
USD/JPY advances to near 152.00 at the expense of the Japanese Yen. US President Trump announces that he is prepared to impose 25% tariffs on imports of steel and aluminum.
Recent trades were generally bullish for the Japanese yen against other major currencies, most notably the decline of the US dollar against the Japanese yen pair USD/JPY towards the support level of 150.93.
When looking at currency pairs, most traders in the retail space tend to ignore monetary policy, perhaps because it is somewhat difficult to get a handle on at times.
Trump announced a new 25% tariff on aluminum and steel imports. The US unemployment rate unexpectedly eased from 4.1% to 4.0%. The yen eased slightly on Monday after soaring in the previous week.
EUR/USD recovers intraday losses and rebounds above 1.0300, but renewed fears of US President Trump’s tariffs keep the outlook uncertain. US President Trump is poised to impose 25% tariffs on all aluminum and steel imports.
USD/CAD tests the primary barrier at the nine-day EMA of 1.4362. The market sentiment remains neutral as the pair consolidates within a rectangular pattern. The psychological level of 1.4300 appears as the initial support.
USD/CHF gains ground to near 0.9110 in Monday’s early European session. The upbeat US employment data for January supports the US Dollar. The uncertainty and ongoing Middle East geopolitical tensions could boost the safe-haven currency like the CHF.
The GBP/USD pair retreats as the BoE cuts rates amid a slowing UK economy, while Fed policy diverges, with bearish and bullish targets set at 1.2300 and 1.2550.
