
EUR/JPY Price Forecast: Softens below 182.00 on intervention risks, bearish outlook prevails
EUR/JPY Price Forecast: Softens below 182.00 on intervention risks, bearish outlook prevails
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EUR/JPY Price Forecast: Softens below 182.00 on intervention risks, bearish outlook prevails

Gold Price Forecast: XAU/USD eyes acceptance above $4,150 amid Hormuz deal hopes

Silver Price Forecast: XAG/USD revisits monthly high near $61 as oil price plunges further

Diplomatic developments around the Strait of Hormuz dominated the session, with the narrative refining as the day progressed. Early reports suggested Iran and Oman had largely agreed on the mechanics of reopening the strait, with Iran set to manage inbound traffic and Oman handling outbound shipping alongside a proposed service fee, though later reports cautioned that a final agreement had not yet been reached.

CADJPY currency pair recently reversed from the support zone between the key support level 111.85 (which has been reversing the price from January), 50% Fibonacci correction of the upward impulse from October and the lower daily Bollinger Band.

PBOC sets USD/CNY reference rate at 6.7889 vs. 6.7917 previous

New Zealand's unemployment rate climbed to its highest level in over a decade in the June quarter, reinforcing the view that abundant labour market slack leaves little risk of a wage breakout that could reignite domestic inflationary pressures.

Despite all the headlines, speculation and the artificial move lower in yen pairs over the past week following the first coordinated intervention between the US and Japan in decades, the truth is that the fundamental backdrop that drove USD/JPY and other yen crosses higher has barely changed. That leaves me thinking it's only a matter of when, not if, USD/JPY and other yen crosses resume the gradual grind higher that was underway before the intervention episode.

Gold edges lower below $4,100 as markets focus on US-Iran talks

USD/CHF Price Forecast: Trendline break puts 50-day SMA in focus

EUR/JPY Price Forecast: Rebound stalls below 200-day SMA

Improving risk sentiment helped lift the Australian dollar after easing Middle East tensions and stronger US economic data. While AUD/USD, AUD/JPY and AUD/NZD all advanced, each cross is approaching important technical levels that could determine whether the rally extends or fades.

Gold is showing early signs of renewed strength as it holds above the 20-day moving average, with $4,166 and $4,203 defining key resistance.

It's truly a conundrum for the Bank of Japan. On one hand, they'd probably prefer it if the Japanese Yen didn't weaken dramatically against global currencies, like the US Dollar.

USD/TRY has been on a persistent and unbroken upward climb yearly since 2013, with consistently bullish monthly candles since June 2024. As of the time of writing, the pair is trading around $47.55.