USD/JPY
Current Price: 155.868 JPY
Prediction: Moderate bullish trend
Key Levels:
- Support: 155.35 JPY, 154.80 JPY
- Resistance: 156.11 JPY, 156.50 JPY
Analysis:
- Trend: Bullish
- Indicators: Moving averages and oscillators are slightly bullish. Volume at 75.40K indicates moderate trading activity.
Summary: USD/JPY likely to rise with resistance at 156.11 to 156.50 JPY. Watch support at 155.35 and 154.80 JPY.
GBP/JPY
Current Price: 199.331 JPY
Prediction: Moderate bearish trend
Key Levels:
- Support: 198.97 JPY, 198.50 JPY
- Resistance: 199.65 JPY, 200.00 JPY
Analysis:
- Trend: Bearish
- Indicators: Technical indicators suggest a downtrend.
EUR/JPY
Current Price: 169.634 JPY
Prediction: Slight bearish trend
Key Levels:
- Support: 169.20 JPY, 168.80 JPY
- Resistance: 169.80 JPY, 170.20 JPY
Analysis:
- Trend: Bearish
- Indicators: Bearish continuation expected, monitor resistance at 169.80 and 170.20 JPY.
Market Insights
- Japanese Yen: Steady at 155.85 per dollar amid BOJ concerns over missing the 2% inflation target. Safe-haven demand supports yen strength.
- EUR/JPY Outlook: Potential rise despite expected ECB rate cut. ECB’s data-dependent approach may support EUR/JPY bullish structure.
Conclusion
Today’s forecast indicates a bullish trend for USD/JPY, a bearish outlook for GBP/JPY, and a slight bearish trend for EUR/JPY. Monitor key support and resistance levels and stay updated on central bank announcements for informed trading decisions.
