Japanese Yen: Downside bias but mixed outlook – UOB

The post What is keeping the Japanese Yen close to 40-year lows as extreme positioning meets intervention threats? appeared on BitcoinEthereumNews.com. The Japanese Yen (JPY) remains locked in a high-stakes standoff against the US Dollar, testing the ultimate limits of Tokyo’s tolerance for its local currency to depreciate. While a combination of a dovish Bank of Japan (BoJ), loose domestic fiscal policy, and structural vulnerabilities as a net energy importer continue to weigh down the asset, speculative short positioning has reached heavily stretched extremes.  Market observers warn that while the immediate technical path points to further gradual upside for the USD/JPY pair, the threat of unannounced government intervention looms large, setting the stage for a potentially violent and sudden trend reversal. USD/JPY daily chart. Source: FXStreet. Structural pressures and extreme positioning heighten intervention threats FX strategists at ABN AMRO note the market is aggressively probin

The post Japanese Yen gains against US Dollar despite renewed geopolitical risks appeared on BitcoinEthereumNews.com. The Japanese Yen (JPY) trades higher against the US Dollar (USD) despite renewed geopolitical risks. The USD/JPY pair is down 0.17% to near 162.35 as the US Dollar faces selling pressure even as the exchange of attacks between the United States (US) and Iran has de-anchored United States (US) inflation expectations again. US Dollar Price Today The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the weakest against the New Zealand Dollar. USD EUR GBP JPY CAD AUD NZD CHF USD -0.15% -0.23% -0.16% 0.07% -0.15% -0.69% -0.29% EUR 0.15% -0.07% -0.04% 0.22% 0.03% -0.51% -0.13% GBP 0.23% 0.07% 0.04% 0.29% 0.10% -0.43% -0.05% JPY 0.16% 0.04% -0.04% 0.22% 0.05% -0.52% -0.12% CAD -0.07% -0.22% -0.29% -0.22% -0.19% -0.73% -0.34% AUD 0.15% -0.03% -0.10% -0.05% 0.19% -0.54% -0.15% NZD 0.69% 0.51% 0.43% 0.52% 0.73% 0.54% 0

The post Australian Dollar: Tentative upside risk above 0.6980 against US Dollar – UOB appeared on BitcoinEthereumNews.com. United Overseas Bank’s (UOB) Quek Ser Leang sees AUD/USD confined to a 0.6915–0.6950 intraday range as momentum remains lacklustre. For 1–3 weeks, upward momentum is tentatively building, with rising risk of a break above 0.6980 while 0.6900 acts as strong support. Over 1–3 months, however, the broader trend remains negative, with focus on 0.6707 below 0.6835. Australian Dollar holds in tight band “24-HOUR VIEW: AUD fell to a low of 0.6921 two days ago. When it was at 0.6925 yesterday, we stated that “while AUD could retreat further, given the lacklustre downward momentum, any decline is likely to be contained within a 0.6900/0.6950 range.” AUD subsequently rose to 0.6946, dipped to 0.6907 before recovering to close marginally higher by 0.01% at 0.6929. There has been no clear shift in either downward or upward momentum, and AUD is likely to range-trade today, pro

The post USD/CAD Price Forecast: Hovers above 1.4150 as bullish bias prevails appeared on BitcoinEthereumNews.com. USD/CAD moves sideways after two days of losses, trading around 1.4170 during the European hours on Thursday. The technical analysis of the daily chart indicates the pair is remaining within the ascending channel pattern, indicating a persistent bullish bias. The USD/CAD is retaining a bullish near-term bias as it holds comfortably above the 50-period Exponential Moving Average (EMA). Price is pressing against the short-term nine-period EMA, which acts as immediate resistance, while the 14-day Relative Strength Index (RSI) around 64 stays in positive territory but off extreme overbought readings, hinting at sustained upside momentum with some scope for consolidation. The USD/CAD pair may test the immediate barrier at the nine-day EMA of 1.4182, followed by the primary barrier at the nearly 15-month high of 1.4248, reached on June 24. Further advances would expose the upper

The post Euro holds gains against Japanese Yen as Germany’s Trade Surplus widens in May appeared on BitcoinEthereumNews.com. EUR/JPY extends its gains for the second successive day, trading around 185.70 during the early European hours on Thursday. The currency cross maintains its upward momentum following stronger-than-expected seasonally-adjusted Trade Balance data from Germany. Germany’s Trade Surplus widened to €19.1 billion in May, marking the largest surplus since February. This comfortably beat market forecasts of €14.8 billion and followed an upwardly revised €14.7 billion surplus in April. This expansion was driven by an unexpected 0.9% month-on-month surge in German exports, which hit a three-and-a-half-year high and defied expectations of a 0.3% decline. Conversely, imports dropped by 2.5% to a three-month low, missing the estimate for a 0.1% growth and reversing the previous month’s 1.1% gain. However, the upside of the EUR/JPY cross could be limited as the Japanese Yen (JP

The post Solana (SOL) Faces Critical Test at $76 Support Level as Bears Target 22% Decline appeared on BitcoinEthereumNews.com. Key Takeaways Solana has declined 3% on Wednesday, approaching critical support at the 50-day EMA positioned at $76.67 ETF inflows for SOL plummeted to $1.67M on Tuesday, a significant decrease from Monday’s $8.36M Open Interest contracted 4% over the past 24 hours to $5.31 billion, indicating diminished trader engagement Technical analyst Ali Charts cautions that failure to break through the $79–$85 resistance zone could send SOL tumbling to $53 Market participants Scient and Ryker are monitoring the $74–$77 range as a critical support area before any bullish continuation Solana (SOL) has posted a 3% loss on Wednesday, continuing a downward trajectory that initiated following a rejection at a long-standing overhead resistance trendline around $83.94. Solana (SOL) Price This pullback has brought SOL perilously close to a crucial technical support area at $76.6

The post Euro: Support zone key for next leg against US Dollar – UOB appeared on BitcoinEthereumNews.com. United Overseas Bank’s (UOB) Quek Ser Leang highlights that EUR/USD momentum has flattened, with the Euro expected to trade between 1.1395 and 1.1440 intraday. Over 1–3 weeks, the pair is seen in a broader 1.1360–1.1450 range-trading phase. On a 1–3 month view, a break of the 1.1390/1.1410 support zone would target 1.1210. Euro-Dollar locked in range phase “24-HOUR VIEW: EUR fell to a low of 1.1407 on Tuesday. Yesterday, we highlighted the following: “Despite the relatively sharp decline, downward momentum has not increased much. However, there is scope for EUR to dip below 1.1390. The major support at 1.1360 is unlikely to come into view. Resistance is at 1.1420; a breach of 1.1430 would indicate that the immediate downward pressure has eased.” EUR subsequently declined and printed a low of 1.1390 before recovering to close largely unchanged at 1.1414 (+0.03%). Momentum indicators

The post AUD/JPY Price Forecast: Weakens to near 112.50, but uptrend remains constructive appeared on BitcoinEthereumNews.com. The AUD/JPY cross trades in negative territory around 112.62 during the early European trading hours on Thursday. The Japanese Yen (JPY) edges higher against the Australian Dollar (AUD) amid escalating tensions in the Middle East after US President Donald Trump said an interim agreement to end the war with Iran was “over.” Traders are also on high alert for possible intervention from Japanese officials. “The yen’s current weakness is excessive and fails to reflect the strong fundamentals of the Japanese economy, a misalignment that could prompt major central banks to launch coordinated intervention,” said Michael Nizard, head of multi-asset and overlay at Edmond de Rothschild Asset Management. Technical Analysis: In the daily chart, AUD/JPY holds above the 100-day moving average (MA) and the Bollinger Bands’ 20-day simple moving average (SMA), which together su