This article focuses on USD/JPY’s near-term outlook, incorporating both fundamental and technical analyses. It also scrutinizes pivotal price levels that might function as resistance and support in the coming trading sessions.

In this article, we conduct an in-depth analysis of gold’s outlook from a fundamental and technical standpoint. We cast our gaze upon key market drivers that hold relevance for bullion and dissect important price levels worth watching this week.

The ISM services PMI report confirmed an expansion for the largest sector in the US economy. Increased business activity outshines notable drop in new orders

Sterling is picking itself up from multi-month lows against the US dollar, buoyed by a better-than-expected S&P services report and weak US ADP data.

US Treasury yields continued with their ascent overnight, with the US 10-year yields at 4.8%. Aside, the VIX is at its four-month high, hovering just below its key 20 level.

The euro continues to slide despite rising Bund yields as PMI data hints at a German recession. FX markets are on edge after suspected intervention to bolster the yen

​​Outlook on Nikkei 225, FTSE 100 and S&P 500 amid rising US yields, a strong greenback and tight US labour market.

Gold prices look to Fed speak & ISM services PMI for guidance and whether or not bears can take XAU/USD down towards the $1800/oz mark.