No news for EURJPY pair’s price due to its neediness to the positive momentum by providing sideways trading by its stability near 187.00, confirming that gathering positive momentum is important to allow it to surpass 187.50 level, to open the way for resuming the bullish trend, to expect targeting 188.35 and 188.80 level.

The continuation of the main indicators’ contradiction might force it to delay the bullish trend and form some corrective trading, which force it to suffer some losses by reaching 186.10 and 185.65 before any attempt to reach the previously suggested taregts.

The expected trading range for today is between 186.40 and 187.50

Trend forecast: Fluctuated within the bullish trend

Created on April 22, 2026

• British pound has rallied against the Japanese yen during trading on Tuesday as we continue to see the overall uptrend hold.

• Ultimately, this is a market that I think continues to see the 214 yen level as significant support.

• This is an area that continues to be important, and should continue to be monitored.

To the upside, you have the 216 yen level, an area that I think a lot of people will be watching very closely. If we can break above there, then it’s likely that traders will continue to pile into the GBP/JPY pair. After all, this pair does pay you at the end of every day because of the swap, the interest rate differential between the two currencies is pretty wide, and I think that has a lot to do with what we can expect next.

The Bullish Flag Target

I don’t necessarily think that we have a huge amount of momentum at the moment, but eventually we should break through the barrier. If and when we do, the measured move of the potential bullish flag is for a move to the 222 yen level. When you look at longer-term charts, it is an area that has been important.

On the other hand, if we were to break down below the 214 yen level, then it’s possible that the market could test the 50-day EMA at 212.24, but I don’t really think that’s going to happen. I think the British pound continues to shine against the Japanese yen, and I have no interest whatsoever in shorting. The lower it goes, the more likely I am to buy the first significant bounce.

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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.

Copper price didn’t move anything since yesterday by its fluctuation near the initial support at $5.9700, due to the contradiction of the main indicators, by providing negative momentum by stochastic, which settles below 50 level.

The sideways trading might continue, reminding you that the negative pressure might force it to form some bearish corrective trading, attempting to reach $5.8200, while activating the bullish trend requires a new bullish momentum to push the price to settle above $6.1200, to begin activating new positive stations that might extend in the initial period at 6.2500.

The expected trading range for today is between $5.8200 and $6.100

Trend forecast: Fluctuated within the bullish trend

– Written by


Frank Davies

STORY LINK Pound Sterling to Dollar Forecast: GBP Holds 1.35 as Iran Ceasefire Extended

The Pound to Dollar exchange rate (GBP/USD) is holding close to 1.3500, with support intact despite ongoing geopolitical tensions and economic uncertainty.

Markets remain range-bound as investors weigh Middle East developments and central bank signals, with GBP/USD trading in a tight 1.34–1.36 range ahead of key US policy updates.

GBP/USD Forecasts: Holding Near 1.35

The Pound to Dollar (GBP/USD) exchange rate has continued to find some support below 1.3500 and is trading close to this level as markets continue to manage elevated economic and political risks.

There are major uncertainties surrounding the Middle East situation, although the overall market moves have been contained with uncertainty whether the next round of bilateral talks in Pakistan will take place. Markets remain hopeful that some form of dialogue will take place which is particularly important given that the current US-Iran ceasefire ends on Wednesday.

Paul Mackel, global head of forex research at HSBC commented; “This binary backdrop of geopolitical risk is keeping a tight grip on forex and as long as talks are happening then the U.S. dollar should be on the backfoot.”

US monetary policy and on-going UK political developments will be market-moving developments.

UoB expects GBP/USD support will hold; “The current price movements are likely part of a range-trading phase, but the firmer underlying tone suggests GBP is likely to trade in a higher range of 1.3500 and 1.3570.”

Scotiabank added; “We look to potential support in the mid/ lower-1.34s around the clustered 50 and 200 day MA’s and look to a near-term range bound between 1.3480 and 1.3580.”

ING does not expect GBP/USD can sustain any gains and has a 12-month GBP/USD forecast of 1.3300.

Fed Chair nominee Warsh is due to face Senate hearings on Tuesday with comments on interest rates watched closely. At this stage, markets are pricing in around a 30% chance of a rate cut on a 6-month view, but Warsh’s comments could change the expected narrative.

ING commented; “Barring comments on the Fed’s balance sheet that unnerve the long-end of the Treasury and risk assets, Warsh’s comments on the policy rate will probably be a bigger driver of the dollar. With oil prices and short-term inflation expectations high at the moment, comments which see short-dated swap rates and real rates come lower will be dollar negative.”

MUFG however, sees the possibility of dollar support; “US rate market participants are of the view he will leave the door open for rate cuts later this year justified by the potentially disinflationary impact of higher productivity growth. If he sounds more hawkish than expected, it could offer some near-term support for the US dollar.”

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The Dollar to Yen (USD/JPY) exchange rate held just below the 160 level, with the pair trading near multi-year highs as yen weakness persists.

Rabobank notes that the Japanese Yen is the weakest-performing G10 currency both month-to-date and year-to-date, with USD/JPY supported by yield differentials and cautious Bank of Japan policy expectations.

The bank highlights that gains beyond 160 have so far been limited by the risk of intervention from Japan’s Ministry of Finance, while uncertainty over near-term BoJ policy is also capping moves.

Rabobank expects upcoming policy decisions from both the BoJ and Federal Reserve to be key drivers, warning that the absence of a BoJ rate hike could push the pair higher.

“The absence of a rate hike from the BoJ… could propel the currency pair above 160.”

At the same time, the bank notes that expectations for tightening have become less certain, despite earlier hawkish signals from Governor Ueda, with markets now less confident about the timing of the next move.

Rabobank forecasts the Dollar to Yen exchange rate (USD/JPY) will fall to 158 within 3 months and to 152 over a 6-month horizon, assuming a more hawkish stance from the BoJ alongside an easing bias from the Federal Reserve.

The risk of intervention is expected to remain a key factor if USD/JPY moves higher, particularly near the 160 level.

“The chances of a re-test of the USD/JPY160 level will increase.”