GBPJPY resumed its negative trading, reaching 208.75 and surpassing the previously suggested first bearish target, confirming its continued adherence to the previously proposed bearish path.
Repeated stability below the barrier at 210.40, along with the continued negative momentum from the key indicators, will increase the chances of the pair soon declining toward the additional support at 208.10. A break below this level would open the way for new bearish targets, initially at 207.40 and 206.80, respectively.
Expected trading range for today: 208.10 and 210.00
EURJPY took advantage of the repeated negative pressures during yesterday’s trading, forming a new bearish attack and currently touching the bearish target at 179.45, while settling above it after forming additional support against further downside moves.
The price may be forced to trade sideways amid its confinement between the current support, while 180.80 continues to form a strong barrier against bullish attempts. However, a successful break below 179.45 followed by a bearish close would strengthen the bearish scenario, with the price expected to gradually target 178.60, followed by 177.80.
Expected trading range for today: 178.60 and 180.35
(MENAFN– Daily Forex) The interest rate differential continues to be a major development in this pair, as with all the other JPY-denominated markets.EUR/JPYThe euro has been very noisy against the Japanese yen during the trading session on Tuesday as traders continue to try to determine where the interest rate differential is going. The Bank of Japan has recently intervened a few times to save its own currency, but recently we have seen a lot of questions asked about the efficacy of Japanese tightening, as there were a couple of dissenters at the latest interest-rate decision when they hiked the overnight rate.Top Regulated Brokers1 Get Started 74% of retail CFD accounts lose money That being said, this is a market that continues to see a lot of interest-rate differential play out as part of the carry trade. However, when it comes to the euro, it is a little bit different in the sense that the Europeans have to worry about energy this winter. If that does, in fact, come to fruition, it will be interesting to see if this pair diverges from the other yen-denominated markets, or if we just focus on the interest-rate differential after all. The ECB may have to raise rates due to energy inflation 170 yen level underneath has offered significant support
The 170 yen level underneath has offered significant support, and it now looks as if the 182 yen level above could be a bit of a target, with the 50-day EMA getting ready to break down below the 200-day EMA. This could be a“death cross”, a very bearish sign for the trend.
EURUSD Chart by TradingViewUltimately, this is a very choppy and noisy market. The market remains more of a buy-on-the-dip situation, but if we were to break down below the 178 yen level, then you have a situation where the Japanese yen probably not only strengthens from here, but against multiple other currencies.Begin trading our daily forecasts and analysis. Here is a list of Forex brokers in Japan to work with.
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The Pound US Dollar (GBP/USD) exchange rate extended its recent decline on Wednesday, falling to its weakest level since late July as stronger US economic data reinforced expectations of further Federal Reserve tightening.
At the time of writing, GBP/USD was trading at around $1.3280, down roughly 0.5% on the day.
US Dollar (USD) Strengthens after Powerful US PMI Release
The US Dollar (USD) strengthened on Wednesday after the latest US business surveys pointed to unexpectedly strong economic momentum.
S&P Global’s flash composite PMI jumped to 58.4 in September from 56.0 in August, marking the strongest rate of private-sector expansion since July 2021.
The improvement was driven by strong growth across both services and manufacturing, while new orders increased sharply and hiring accelerated.
However, the survey also showed that stronger demand was putting renewed pressure on capacity and supply chains, contributing to another rise in business costs and selling prices.
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The data reinforced expectations that the Federal Reserve may need to tighten monetary policy further following last week’s 25-basis-point interest-rate increase.
US Treasury yields moved sharply higher after the release, with the 10-year yield climbing above 5% to its highest level since 2007.
Recent Federal Reserve commentary has also remained hawkish.
Richmond Fed President Tom Barkin said that US economic conditions appeared to be firming and warned that inflation pressures were no longer confined to energy and tariff-related factors.
The combination of strong economic activity, persistent inflation and rising US yields helped underpin demand for the ‘Greenback’.
Pound (GBP) Pressured by Softer UK PMI Data
The Pound (GBP) came under additional pressure after the latest UK business surveys painted a much softer picture.
The flash services PMI fell to 51.7 in September from 52.5 in August, marking a three-month low and undershooting expectations for a reading of 52.0.
The composite PMI also fell to 51.7, indicating that overall private-sector growth slowed markedly during the month.
Although readings above 50 still signal expansion, the survey suggested that UK economic growth may have slowed towards only around 0.1% during the third quarter.
At the same time, inflationary pressures intensified.
Services companies reported the fastest increase in prices charged for four months, while input-cost pressures also accelerated following the recent increase in energy prices.
This leaves the Bank of England facing an increasingly difficult balance between slowing economic activity and persistent inflation.
The contrast with the US was particularly stark, with the US composite PMI at 58.4 compared with the UK’s 51.7.
Near-Term GBP/USD Forecast: Strong US Growth Leaves Pound Vulnerable
Looking ahead, GBP/USD may remain under pressure if the divergence between US and UK economic momentum continues.
The strong US PMI figures have increased expectations that the Federal Reserve could raise rates again in October, while UK data has raised fresh concerns over the strength of domestic growth.
For Pound Sterling, the $1.3250-$1.3280 area represents the immediate support zone.
A sustained break below this region could expose the $1.3200 level.
GBP/USD would need to recover above $1.3350 to ease the immediate downside pressure.
Thursday’s meeting between US President Donald Trump and Chinese President Xi Jinping will also attract considerable market attention.
Any deterioration in US-China relations could further support the safe-haven Dollar, while signs of progress on trade could improve global risk appetite and offer Sterling some relief.
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Coffee price continued forming negative trading as the negative momentum provided negative momentum in the last period, approaching the support base that is represented by 260.15 level, the suggested scenario in the near trading depends on the strength of the current support, to expect forming bullish waves, to attempt to reach 285.25, repeating the pressure on 295.20 barrier.
Facing new bearish pressures and breaking the current support, will push it to suffer extra losses by reaching 262.20 and 257.30.
The expected trading range for today is between 269.00 and 285.25
Platinum price remains under the sideways track by its fluctuation near $1815.00 level, affected by the stability of the barrier at $1840.00, which obstacles the chances of activating the bullish trend again.
The price might be forced to provide more sideways trading until gathering extra positive momentum, easing the mission of achieving the breach, to begin targeting the positive stations by its rally towards $1880.00 and $1960.00.
The expected trading range for today is between $1780.00 and $1880.00
There is no change on EURJPY pair’s negative track, due to its stability below 180.80, to approach the initial bearish target yesterday by reaching 179.75.
Providing negative momentum will increase the chances of targeting negative stations, surpassing 179.45 level, attempting to press near 178.60 obstacle.
The expected trading range for today is between 179.45 and 180.70
Natural gas price succeeded in activating with stochastic positivity, to keep its positive stability above the support at $2.620, forming some bullish waves and holding near $3.020.
The price requires providing new bullish close above $2.920 level, increasing the efficiency of the bullish scenario and reaching the positive stations at $3.100 and $3.250 level.
The expected trading range for today is between $2.920 and $3.250
The GBPJPY pair failed to settle above 210.40 level, to provide a new negative close below it, to begin forming bearish waves, to settle near 209.80 level.
The negative stability below the barrier besides the attempt of providing negative momentum by the main indicators will increase the chances of targeting the negative stations, which might begin at 219.05 reaching extra support near 208.10, while providing a positive close above the barrier will provide a chance to begin the bullish trend, to form initial target at 211.25 level.
The expected trading range for today is between 209.05 and 210.40
Coffee prices today in the domestic market continued to decrease by 1,000 VND/kg, on average maintaining at 91,900 VND/kg, anchored in the price range of 91,200-92,000 VND/kg.
In Gia Lai and Dak Lak, coffee prices were recorded at 91,800 VND/kg, down 1,000 VND/kg.
In Lam Dong, coffee prices decreased by 1,000 VND/kg, listed at 91,200 VND/kg.
The old Dak Nong area, although reduced by another 1,000 VND/kg, is still the highest price in the whole region at 92,000 VND/kg.
The USD/VND exchange rate according to Vietcombank is recorded at 25,800 VND/USD.
World coffee prices
In the world market, coffee prices remain unchanged for all terms.
According to Barchart, the September 2026 Robusta futures contract is anchored at 3,400 USD/ton, down 51 USD/ton. Down 77 USD/ton, the November 2026 futures are listed at 3,260 USD/ton. The terms from January 2027 to May 2027 are listed in the price range of 3,241 – 3,249 USD/ton.
Similarly, the December 2026 Arabica contract fell to 272.30, down sharply by 4.1 cents/lb. The March 2027 contract was offered to the market at a price of 264.70 cents/lb, down 3.75 cents/lb. Further forwards are anchored in the 259.25 – 260.70 cents/lb range.
Assessments and forecasts
Coffee prices fell sharply for the second consecutive session and hit a 3-month low. Coffee prices have been under pressure for the past 3 weeks due to the prospect of abundant global supply.
The decline in Robusta coffee prices accelerated yesterday after Robusta inventories at ICE rose to a 9.75-month high.
Favorable farming conditions in Brazil and Vietnam also put pressure on coffee prices. Rainfall higher than normal in Brazil during the current important flowering period may support the 2026/27 coffee harvest season, thereby becoming a factor causing price reduction pressure.
