Copper price is affected by the positivity of the main indicators since yesterday, specifically by forming extra support by the moving average 55 at $5.9500, which obstructs the bearish corrective attempts, forming new sideways fluctuations by its stability near $6.1000.
The sideways fluctuations remains the dominance in today’s trading until gathering the negative momentum, confirming the importance of its stability at $6.3000 level, to motivate forming bearish waves to target $5.8200 and $5.7100.
The expected trading range for today is between $5.9500 and $6.2000
The Euro to Dollar (EUR/USD) exchange rate has stabilised near 1.1410 after suffering a sharp sell-off during June as stronger US economic data and geopolitical tensions boosted demand for the Dollar.
Berenberg believes the Euro may continue to struggle in the short term, but expects a more supportive backdrop to emerge as economic growth on both sides of the Atlantic begins to converge.
The bank argues that the single currency “lost twice” against the Dollar this year. Not only did the Iran conflict and higher energy prices weaken the Eurozone economy, but the US economy simultaneously received a boost from the AI investment boom and stronger-than-expected economic data.
According to Berenberg, this combination of weaker European growth and stronger US momentum created a powerful tailwind for the Dollar.
Earlier in the year, the Euro had benefited from improving Eurozone data and strong international investment flows into European equity and bond markets, briefly pushing EUR/USD above 1.20 for the first time since 2021.
However, Berenberg believes the medium-term outlook is more balanced. The bank expects growth differentials between the US and Eurozone to narrow as the boost from Germany’s fiscal stimulus gathers pace.
While the bank cautions that “the currency is likely to continue to struggle in the short term”, it believes improving Eurozone growth prospects should provide support for EUR/USD over the medium term as the current divergence in economic momentum begins to fade.
The Pound Sterling advances against the Japanese Yen on Monday, up 0.59% amid fears for a possible intervention by Japanese authorities in the foreign exchange markets. At the time of writing, the GBP/JPY trades at 214.78, bouncing off daily lows of 213.41.
GBP/JPY Price Forecast: Technical Outlook
The cross-pair consolidates near the year highs, forming an ‘ascending triangle’, which could open the door for further upside. The GBP/JPY has reclaimed the 50-day Simple Moving Average (SMA) at 214.06, which has exacerbated the rally towards the current spot price of 215.00.
Momentum, as measured by the Relative Strength Index (RSI), turned bullish exponentially, clearing the 50-neutral level and heading toward the 55.00 mark. The path of least resistance is tilted to the upside, if not for the potential intervention.
The first resistance for GBP/JPY would be 215.00. A breach of the latter will expose the 215.40-215.50 area ahead of 216.00. Above this area, the next resistance is the year-to-date (YTD) high at 216.60.
Downwards, the first support is the 50-day SMA at 214.06. If breached, the next support would be the 213.00 mark ahead of the 100-day SMA at 212.83.
GBP/JPY Price Chart – Daily
GBP/JPY daily chart
Japanese Yen Price Today
The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies today. Japanese Yen was the strongest against the Canadian Dollar.
USD
EUR
GBP
JPY
CAD
AUD
NZD
CHF
USD
-0.33%
-0.41%
0.10%
0.11%
0.11%
-0.27%
-0.31%
EUR
0.33%
-0.11%
0.46%
0.46%
0.47%
0.10%
0.05%
GBP
0.41%
0.11%
0.51%
0.52%
0.52%
0.15%
0.19%
JPY
-0.10%
-0.46%
-0.51%
0.00%
-0.00%
-0.32%
-0.41%
CAD
-0.11%
-0.46%
-0.52%
-0.01%
0.00%
-0.32%
-0.44%
AUD
-0.11%
-0.47%
-0.52%
0.00%
-0.00%
-0.37%
-0.34%
NZD
0.27%
-0.10%
-0.15%
0.32%
0.32%
0.37%
-0.03%
CHF
0.31%
-0.05%
-0.19%
0.41%
0.44%
0.34%
0.03%
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Japanese Yen from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent JPY (base)/USD (quote).
The Pound US Dollar (GBP/USD) exchange rate advanced on Monday as easing tensions between the US and Iran lifted appetite for risk.
At the time of writing, GBP/USD was trading at around $1.3241, up roughly 0.3% on the day.
The US Dollar (USD) slipped on Monday as improving market sentiment weighed on demand for the safe-haven currency.
Risk appetite strengthened after tensions in the Middle East appeared to ease, with the US and Iran agreeing to pause further attacks following a weekend of retaliatory strikes.
The two countries are due to meet in Doha on Tuesday for further peace talks, helping to reassure markets that the recent escalation may not derail diplomatic efforts.
With investors adopting a more upbeat stance, demand for the safe-haven ‘Greenback’ faded, leaving USD on the back foot at the start of the week.
Meanwhile, the increasingly risk-sensitive Pound (GBP) found support from the brighter market mood, while Sterling also drew strength from a speech by Andy Burnham – who is widely expected to replace outgoing Prime Minister Keir Starmer.
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In the address, Burnham set out plans to deliver more balanced regional growth across the UK economy. Importantly for GBP investors, he also reaffirmed his commitment to fiscal discipline, while outlining aims to reindustrialise parts of the country and bring down welfare spending.
Markets welcomed Burnham’s comments, with UK gilt yields edging lower in response. However, as the speech focused more on broad ambitions than concrete policy proposals, the Pound’s upside remained somewhat limited.
Near-Term GBP/USD Forecast: Strong UK GDP to Support the Pound?
Looking ahead, the UK’s finalised first-quarter GDP figures could act as a key driver for the Pound on Tuesday.
If the data confirms that growth accelerated at the beginning of the year, Sterling may find some modest support. However, the release may not trigger much movement if it comes in line with previous estimates.
A revision could spark a sharper reaction. An upward adjustment may strengthen GBP, while a downgrade could drag on the UK currency.
For the US Dollar, Tuesday afternoon brings the latest JOLTS job openings data. Evidence of resilient hiring demand in May could help underpin USD exchange rates.
The latest US consumer confidence index may also influence the ‘Greenback’, with economists expecting household morale to have improved in June.
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The US dollar is slightly positive against the Japanese yen. We continue to see the 162-yen level being an area of difficulty, but once we break above there, we will be free to continue to grind higher. The Bank of Japan did intervene at the end of April, and they have said a few things here and there, but quite frankly, when the market has made up its mind, most of the time, the best a central bank can hope for is slowing down the move, and I think that’s what you kind of have here.
The weekly chart provides additional perspective, as the lows of the past couple of weeks have been finding support near the 50-week moving average, now near $63.64. This reinforces the potential for a durable support zone. Conversely, a decisive break below that area would strengthen the bearish outlook by confirming a loss of long-term support. The 50-week moving average has held as support since it was reclaimed in March 2024, except for a couple of weeks in April 2025 when price briefly traded below it.
Resistance Levels Hold the Key
Key near-term resistance is represented by the 20-day moving average near $70.16 and the recent lower swing high at $71.56. If those levels can be recovered, silver would have an opportunity to reclaim the long-term trend indicators and improve the broader outlook. Until then, however, the bias remains tilted to the downside.
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The continuation of the contradiction between the main indicators led to delay the negative attempts of platinum, to form some bullish corrective waves by reaching $1625.00, by the above image, we notice the stability of the trading within minor bearish channel levels, to confirm the stability of the bearish scenario by its stability below the initial resistance at $1745.00.
And that makes us wait for gathering extra negative momentum, which allows it renew the negative attempts that might target $1555.00 and $1510.00, while breaching the resistance and holding above it will provide extra chances for recovering more losses by its rally $1775.00 reaching the next barrier near $1855.00.
The expected trading range for today is between $1515.00 and $1680.00
The EURJPY pair formed some bearish trading, however it didn’t settle for longtime by its stability above 183.40, forming several bullish waves by targeting 184.85 barrier, to settle near 184.20.
In spite of the stability of the price below 184.85 barrier, however the contradiction of the main indicators might force it to provide unstable mixed trading, to keep waiting for gathering extra negative momentum, which allows it to renew the pressure on the mentioned barrier, where breaking it will extend the trading towards the negative stations near 182.90 and 182.20.
The expected trading range for today is between 183.40 and 184.60
Trend forecast: Fluctuating within the bearish trend
The EURJPY pair formed some bearish trading, however it didn’t settle for longtime by its stability above 183.40, forming several bullish waves by targeting 184.85 barrier, to settle near 184.20.
In spite of the stability of the price below 184.85 barrier, however the contradiction of the main indicators might force it to provide unstable mixed trading, to keep waiting for gathering extra negative momentum, which allows it to renew the pressure on the mentioned barrier, where breaking it will extend the trading towards the negative stations near 182.90 and 182.20.
The expected trading range for today is between 183.40 and 184.60
Trend forecast: Fluctuating within the bearish trend
The continuation of the contradiction between the main indicators led to delay the negative attempts of platinum, to form some bullish corrective waves by reaching $1625.00, by the above image, we notice the stability of the trading within minor bearish channel levels, to confirm the stability of the bearish scenario by its stability below the initial resistance at $1745.00.
And that makes us wait for gathering extra negative momentum, which allows it renew the negative attempts that might target $1555.00 and $1510.00, while breaching the resistance and holding above it will provide extra chances for recovering more losses by its rally $1775.00 reaching the next barrier near $1855.00.
The expected trading range for today is between $1515.00 and $1680.00
