Unionbank of the Philippines adds NFT trading platform and will soon launch its branch in the Metaverse in partnership with The Sandbox.
Japan Industrial Partners leads a consortium that Toshiba picked as the preferred bidder over state-backed Japan Investment Corp.
Nike unveils its .Swoosh Web3 marketplace where it will sell NFTs and digital assets featuring its brand.
Binance drops move to acquire FTX after uncovering issues in its books and reports of funds mismanagement.
Yuga Labs acquires WENEW and 10KTF NFT collection, expanding its portfolio of popular digital tokens.
Mastercard is helping banks offer crypto trading services to their customers through its new Crypto SourceTM program.
Mattel is launching its own NFT Marketplace to sell digital collectibles featuring Barbie, Hot Wheels and its other brands.
Cristiano Ronaldo dropping his first NFT collection through Binance, and the auction is starting this week.
Rolex preparing to enter the Metaverse, crypto and NFT by filing trademarks related to virtual goods and services.
Binance has stopped accepting FTX's FTT tokens on its platform after the latter's bankruptcy filing.
Japanese Yen slips lower from multi-year highs, caution seen ahead of Fed policy decision
Chart - Courtesy Trading View
A rebound in the positive market sentiment has undermined demand for the US dollar.
On the data front, US PPI matched 0.8% MoM forecasts, also easing to 10.8% YoY figures versus 10.9% expected and prior readouts.
Further, core PPI (ex Food & Energy), dropped below 8.6% YoY forecasts to 8.3%, data released on Tuesday showed.
Further, markets remain cautious and refrain from placing any aggressive bets ahead of the Fed policy decision.
The Federal Reserve is expected to remain on the extremely hawkish side amid soaring inflation.
That said, signs of exhaustion were displayed by the US dollar index DXY, as clouds of uncertain Fed policy loom again.
USD/JPY was trading 0.59% lower on the day at 134.66 at around 07:00 GMT.
Previous Week's High/ Low: 134.55/ 130.42
Previous Session's High/ Low: 135.47/ 133.87
- USD/JPY has erased most of the previous session's gains
- Price action hovers around 5-DMA support
- GMMA indicator shows major and minor trend are bullish
- Volatility is high and momentum is bullish, but overbought oscillator warrant caution
Major Support and Resistance Levels:
Support - 133.23 (200H MA), Resistance - 136.67 (Upper BB)
Summary: USD/JPY trades with a bullish technical bias. Pullbacks on account of overbought conditions are likely to be shallow.