Platinum price remains affected by recurring negative pressures, represented by its overall stability below the main resistance level currently extending toward $1,940.00. In addition, the $1,865.00 level is forming another strong barrier, forcing the price to renew its bearish attempts, with the price currently positioned near the $1,645.00 level.

The availability of negative momentum will increase the chances of the price attacking the support level at $1,605.00 soon. A break below this level would strengthen the chances of resuming the bearish move, targeting $1,565.00 and then $1,490.00 respectively.

The expected trading range for today is between $1,565.00 and $1,700.00

Trend forecast: Bearish

GBP/USD Struggles as Starmer on Resignation Watch

GBP/USD is trading close to this year’s lows as political uncertainty builds and speculation surrounding Prime Minister Keir Starmer’s future adds another headwind for sterling.

Starmer may step down as soon as today, although it is still unclear whether he will or whether he will remain in power to fight any potential leadership challenge from Greater Manchester Mayor Andy Burnham, whose victory in the Makerfield by-election has given him a path to Westminster.

For the pound, the key focus is fiscal policy. Should Burnham become Prime Minister, markets will want clarity on his spending plans and whether he would maintain the current fiscal rules. Any suggestion of increased borrowing could be poorly received by the UK bond market, particularly given the UK’s already stretched debt position.

A potential increase in gilt issuance to fund higher spending could make investors nervous at a time when concerns surrounding public finances remain elevated.

The pound has also come under pressure after cooler-than-expected UK CPI data last week prompted markets to scale back expectations for a Bank of England rate hike this year.

This contrasts with the more hawkish tone from the Federal Reserve following last week’s FOMC meeting.

The Fed’s hawkish tilt helped lift the US Dollar Index to a fresh 2026 high and could continue to support the greenback.

Attention now turns to US Core PCE inflation data, which could provide further clues over the outlook for US interest rates.

GBP/USD Forecast – Technical Analysis

GBP/USD broke below its symmetrical triangle pattern, falling to a low of 1.3160 before recovering back above 1.3200. The pair continues to trade below its 50 and 200 SMAs, while the RSI remains below 50, keeping sellers hopeful of further downside.

Sellers will look for a break below 1.3160 to create a lower low and open the door towards the psychological 1.3000 level.

Buyers may be encouraged by the hammer candlestick reversal pattern. However, they will need to reclaim 1.3250 before bringing 1.3335 into focus. Above here, the 200 SMA around 1.3400 and the rising trendline resistance come into view.

EUR/USD Caught Between Falling Oil Prices and a Hawkish Fed

EUR/USD fell to 1.1410 last week, its lowest level since March, as the US dollar surged following the hawkish FOMC meeting. While the pair has recovered some ground, it remains well below 1.1500.

The euro is finding some support today after progress was reported in the first session of talks between the US and Iran. Oil prices have fallen further as vessels continue to move through the Strait of Hormuz.

This is positive for Europe, which remains heavily dependent on imported energy.

However, gains in EUR/USD could remain limited by continued US dollar strength. Last week’s FOMC meeting saw the Fed leave rates unchanged, but nine of 18 policymakers now expect a rate hike before the end of the year. Meanwhile, new Fed Chair Kevin Walsh doubled down on the importance of returning inflation to target, reinforcing the hawkish message.

Attention this week will focus on US Core PCE, the Fed’s preferred inflation gauge, which could provide further clues over the path of US interest rates.

While the ECB raised rates just a week before the Federal Reserve, that move already appears to have faded into the background. The ECB maintained a cautious, data-dependent tone and another rate hike risks placing additional pressure on an already fragile Eurozone economy.

Today, attention turns to Eurozone consumer confidence, which is expected to remain broadly stable around -18. ECB President Christine Lagarde is also due to speak.

Tomorrow’s PMI figures could provide further insight into the health of the Eurozone economy after May’s composite PMI remained in contraction territory. Another weak reading could keep pressure on the euro.

EUR/USD Forecast – Technical Analysis

EUR/USD broke down from its symmetrical triangle pattern, falling below its 200 SMA and dropping to a low of 1.1410. This, combined with the RSI below 50, keeps sellers hopeful of further downside.

Immediate support can be seen at 1.1450, with a break below opening the door to 1.1400. Sellers will be looking to take out this level to create a lower low and extend the decline towards 1.1300.

Buyers may be encouraged by the long lower wick on Friday’s candle, suggesting demand emerged at lower levels. The hammer candlestick could signal a reversal. In that scenario, buyers would need to rise above 1.1500 to bring 1.1600 into focus, before exposing the 200 SMA at 1.1670.

2026.06.22 2026.06.22
Yen Can Move Mountains. Forecast as of 22.06.2026

Dmitri Demidenkohttps://www.litefinance.org/blog/authors/dmitri-demidenko/

Both the US and Japanese governments are seeking to place allies in key central bank positions to increase their influence. However, while Donald Trump has achieved limited success, Sanae Takaichi has been far more effective. Let’s discuss this topic and develop a trading plan for the USD/JPY pair.

Major Takeaways

• The Japanese government wants to gain control over the BoJ.
• The Bank of Japan will raise rates in October or December.
• The Fed is poised to tighten policy in September.
• Consider short trades if the USDJPY pair falls below 161.45.

Weekly Fundamental Forecast for Yen

While Donald Trump openly pressures the Fed to cut rates, Sanae Takaichi has pursued a more discreet strategy. Despite backing the Bank of Japan’s tightening cycle in public, she has helped place dovish officials on the Board of Governors. One recent appointee, Toichiro Osada, voted against further tightening, raising concerns that the BoJ could slow the pace of normalization and support the ongoing USD/JPY rally.

The Board of Governors consists of nine members, and within the next 12 months, four of them could be supporters of Sanae Takaichi’s expansionary monetary and fiscal agenda. What Donald Trump has so far failed to achieve—gaining greater influence over the central bank—could become a reality in Japan under its prime minister. Growing concerns over the BoJ’s independence have emerged as another factor, pushing the USD/JPY pair to its strongest levels since 1986.

Expected Timing of the Next BoJ Rate Hike

Source: Bloomberg.

What can the Bank of Japan do in this situation? It needs to raise rates to a neutral level as quickly as possible, one that neither stimulates nor restrains the economy, before it’s too late and before the doves gain greater influence on the Board of Governors.

Deputy Governor Ryozo Himino’s message is becoming increasingly clear. He has warned that delaying monetary tightening could ultimately force the Bank of Japan to raise rates more aggressively, making the eventual adjustment more costly for the economy. Nevertheless, 52% of economists surveyed by Bloomberg expect the BoJ’s next rate hike to come only in December, while 36% see October as the most likely timing.

The BoJ’s cautious approach continues to weigh heavily on the yen. The wide interest rate gap with the Fed encourages capital to flow from Japan to the US, providing ongoing support for USD/JPY. The pair is drawing additional strength from market expectations that the Fed is not done tightening yet. According to derivatives pricing, investors see a 77% probability of a rate hike in September and a 59% chance of two additional rate increases before year-end.

USD/JPY and Japan’s Currency Interventions

Source: Bloomberg.

The government’s desire to maintain an accommodative monetary policy is increasingly constrained by the weakening yen. Further depreciation may fuel inflation, particularly as higher energy costs continue to feed into Japan’s core CPI. As a result, Tokyo may have little choice but to step up its efforts to bolster the currency through intervention.

However, the authorities face two major obstacles: the limited effectiveness of past interventions, which consumed roughly $73 billion, and the dollar’s strong underlying fundamentals. The market has largely shrugged off Finance Minister Satsuki Katayama’s warnings of decisive action. Had the latest warning come from Japan’s top currency diplomat, Atsushi Mimura, as it did in April, investors might have paid much closer attention.

Weekly USDJPY Trading Plan

Probably, currency interventions are on the horizon. If the USD/JPY pair drops below 161.45, short trades can be opened.

This forecast is based on the analysis of fundamental factors, including official statements from financial institutions and regulators, various geopolitical and economic developments, and statistical data. Historical market data are also considered.

Price chart of USDJPY in real time mode

Platinum price returned to stabilize near the $1,655.00 level, affected by the negative pressures represented by the formation of the $1,780.00 level as an additional strong resistance barrier, along with the main indicators providing negative momentum during the recent period.

Based on the above, we expect the price to attempt to resume its bearish moves, which may target the stable support level at $1,605.00 in the near term. A break below this level could extend the losses toward $1,565.00 and $1,490.00.

The expected trading range for today is between $1,605.00 and $1,730.00

Trend forecast: Bearish