• The British pound initially pulled back a bit against the Japanese yen, but it has found support at the 195 yen level.
• This is an area that is a large round psychologically significant figure and an area that I think you probably would expect to see a little bit of noise regardless.
• The shape of the candle is rather impressive, and it does suggest that we have further upward pressure.

At the end of the session, we are closing, at least it looks like we will, at the very top of the range of the day. At this point, I suspect that if we continue to see more risk on behavior, the market will likely try to get to the 198 yen level, possibly even the 200 yen level. Short-term pullbacks, I think at this juncture continue to offer value. And you should keep in the back of your mind that commercial traders are net short of the Japanese yen in the futures market, which gives us an idea as to how the big money might be targeting this market.

Swap Matters Over the Long Term

But also, it’s worth noting that this is a market that pays you at the end of every day to hold on to it. So, there is a reason to pay close attention to that. The 200 yen level is probably a major ceiling, and I don’t necessarily think we break through that easily, but this is a chart that looks like it wants to try to go back there and test that area. Underneath, we have significant support near the 193.50 yen level, and then again at the 200 day EMA, which is close to the 192 yen level. Ultimately, I am bullish, and I do think that short-term pullbacks offer short-term buying opportunities.

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Christopher Lewis has been trading Forex and has over 20 years experience in financial markets. Chris has been a regular contributor to Daily Forex since the early days of the site. He writes about Forex for several online publications, including FX Empire, Investing.com, and his own site, aptly named The Trader Guy. Chris favours technical analysis methods to identify his trades and likes to trade equity indices and commodities as well as Forex. He favours a longer-term trading style, and his trades often last for days or weeks.

Platinum price forced to provide slow sideways trading, due to the continuation of the main indicators’ contradiction, to keep its fluctuation near the $991.00 level, while the continuation of forming sold barrier at $1005.00 level will increase the chances for activating the negative track, to attack the moving average 55 at $965.00, then press on the support at $950.00.

While regaining the bullish bias requires forming a strong bullish rally, to surpass 61.8% Fibonacci correction level at to confirm its readiness to record new gains that begin at $1027.00, to confirm its readiness to record new gains that begin at $ 1027.00 and $1040.00.

The expected trading range for today is between $965.00 and $ 1000.00

Trend forecast: Bearish

May 13, 2025 – Written by Tim Boyer

STORY LINK GBP/USD Forecast: Pound Climbs vs Dollar on Soft US Inflation Data

The Pound US Dollar exchange rate gained ground on Tuesday as the US released its latest inflation reading.

At the time of writing, GBP/USD was trading at approximately $1.3245, up roughly 0.5% from the start of Tuesday’s session.

The US Dollar (USD) came under pressure on Tuesday following the publication of a softer-than-expected US inflation print.

April’s consumer price index (CPI) showed headline inflation easing to 2.3%, down from 2.4%, marking the lowest rate in more than four years and falling short of forecasts for a steady reading.

The unexpected decline prompted traders to reassess the Federal Reserve’s policy trajectory, dragging the ‘Greenback’ lower.

Adding to the downside, a generally upbeat market mood saw investors shy away from the safe-haven currency, intensifying the USD’s losses.

The Pound (GBP) faced early pressure on Tuesday after disappointing UK labour market figures dented investor confidence.

According to the latest ONS (Office for National Statistics) report, unemployment climbed to 4.5% in March, reaching its highest level since summer 2021, while wage growth (excluding bonuses) cooled more than anticipated, slipping from 5.9% to 5.6%.

The figures fell short of forecasts and raised fresh concerns about the strength of the UK jobs market.

Despite the initial downturn, Sterling found firmer footing later in the session, particularly against safe-haven currencies like the US Dollar.

A risk-on mood helped offset earlier losses, with the Pound’s sensitivity to risk sentiment offering it modest support into the afternoon.

In the absence of fresh economic data from either side of the Atlantic, the spotlight is now on central bank commentary to drive movement in the GBP/USD exchange rate.

Following the Bank of England’s (BoE) hawkish commentary at its most recent policy meeting, further optimistic signals could offer the Pound additional support during Wednesday’s European session.

For the US Dollar, if the Federal Reserve responds to Tuesday’s cooler-than-forecast inflation figures with dovish signals, the US Dollar may come under renewed pressure as the week unfolds.

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EUR/USD Analysis Summary Today

• Overall Trend: In a bearish shift.
• Today’s Euro/Dollar Support Levels: 1.1050 – 1.0975 – 1.0880.
• Today’s Euro/Dollar Resistance Levels: 1.1170 – 1.1270 -1.1400.

EUR/USD Trading Signals:

• Buy the EUR/USD from the support level of 1.0970, target 1.1150, and stop 1.0880.
• Sell the EUR/USD from the resistance level of 1.1220, target 1.1000, and stop 1.1330.

EUR/USD Technical Analysis Today:

Ahead of the important US inflation figures announcement today, the EUR/USD currency pair is facing selling pressures that pushed it towards the 1.1065 support level, the lowest for the pair in a month, before stabilizing around the 1.1086 level at the start of trading today, Tuesday. Across licensed trading company platforms, selling pressure on EUR/USD increased amidst easing trade tensions between Washington and Beijing. Recently, the United States and China agreed to reduce tariffs for 90 days following talks in Geneva, representing a significant de-escalation in the trade war that erupted last month.

Under the US/China agreement, US tariffs on Chinese goods will decrease from 145% to 30%, while Chinese tariffs on US imports will decrease from 125% to 10%. In other geopolitical developments, Ukrainian President Zelensky announced his readiness to meet Russian President Putin in Turkey next Thursday, while the fragile ceasefire between India and Pakistan continued.

Overall, according to Forex market trading, this news revived risk appetite, but this time it favoured the US dollar over the Euro, as traders prepared to reassess Federal Reserve policy expectations. Analysts anticipate that Federal Reserve officials will adjust their interest rate forecasts in light of receding inflation risks following the easing of trade tensions.

Trading Tips:

Be cautious. Increasing market optimism about resolving the global trade dispute will increase the US dollar’s gains and put the Euro under stronger downward pressure.

Regarding the monetary policy of global central banks, money markets now price the European Central Bank’s deposit facility rate at 1.75% by the end of the year – returning to levels last seen in mid-April, before the ECB hinted at a possible interest rate cut to counter the potential economic repercussions of US tariffs. As of April 25, 2025, financial markets were expecting an interest rate below 1.55%, rising to 1.67% by late Friday.

Expected EUR/USD Trading Scenarios:

The most prominent bearish scenario for EUR/USD in Forex market trading is that bear control over the Euro/Dollar direction will strengthen by moving towards and below the psychological support level of 1.1000. Adding to the strength of the downward shift is the 14-day Relative Strength Index (RSI) moving strongly below the midline, with room and time to move towards stronger bearish levels before reaching the oversold zone. Following a similar path, but lagging, the MACD indicator lines are closer to the midline, increasing the chances of the current bearish shift for the EUR/USD pair.

According to the performance on the daily chart, the move of EUR/USD towards the 1.10 support will support a move towards the next stronger support levels of 1.0945 and 1.0880, respectively.

The expected bullish scenario for EUR/USD will not have an opportunity without the bulls returning the currency pair towards the resistance levels of 1.1285 and 1.1370 again; otherwise, the bearish shift for EUR/USD will remain stronger. The recent selling of EUR/USD will be influenced today by the announcement of the German ZEW Sentiment Index reading at 12:00 PM Egypt time, amidst expectations of a strong improvement in the index readings. Later the same day, the US Consumer Price Index (CPI) reading will be announced at 3:30 PM Egypt time, keeping in mind that the CPI results will affect market expectations for the future policies of the US Federal Reserve.

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