![Japanese Yen at 38 year lows - Where is the bottom? [Video]](https://editorial.fxstreet.com/images/Macroeconomics/Countries/Asia/Japan/umeda-city-sky-building-osaka-japan-44174850_XtraLarge.jpg)
In this video:
We look VERY long term charts for key levels.
Why the Japanese Yen is weak.
When will USD/JPY intervention happen.
How to trade intervention.
Author
Kathy Lien
BKTraders and Prop Traders Edge
EUR/USD extends its losses for the second successive session, trading around 1.1840 during the early European hours on Tuesday. The 14-day Relative Strength Index momentum indicator at 53 (neutral) signals consolidation with a modest upside lean.
The United Kingdom labor market data for the three months ending December is scheduled to be published today at 07:00 GMT. GBP/USD trades 0.16% lower to near 1.3610 at the press time. The 20-period Exponential Moving Average slips to 1.3631 and caps rebounds as price holds below the gauge.
Gold attracts some follow-through selling for the second straight day and dives to over a one-week low, around the $4,858 area, heading into the European session on Tuesday. The commodity, however, quickly recovers to the $4,900 mark as traders opt to await more cues about the US Federal Reserve's (Fed) rate-cut path before placing fresh directional bets.
Pi Network trades above $0.1800 at the time of writing on Tuesday, recording nearly 5% gains so far. On-chain data indicate that large wallet investors, commonly known as whales, have accumulated approximately 4 million PI tokens over the last 24 hours.
It is likely to be a quiet start to the week, with US markets closed on Monday for Presidents Day. European markets are higher across the board and gold is clinging to the $5,000 level after the tamer than expected CPI report in the US reduced haven flows to precious metals.
Stellar price remains under pressure, trading at $0.170 on Tuesday after failing to close above the key resistance on Sunday. The derivatives metric supports the bearish sentiment, with XLM’s short bets rising among traders and funding rates turning negative.
