The EURJPY pair ended the last corrective decline by targeting 186.05 level, activating with the main indicators’ positivity, to rally towards 186.90, announcing its attempt to renew the bullish attempts.

Our bullish scenario depends on forming initial support level at 185.65 level, and surpassing 50 level by stochastic will increase the chances of gathering positive momentum, to ease the mission of targeting 187.40 level, to press on 187.75 barrier again, to find an exit for recording extra gains in the upcoming period.

The expected trading range for today is between 186.40 and 187.75

Trend forecast: Bullish

Copper price activated the corrective decline by reaching below $5.9700 level, activating with the negativity of the indicators by reaching $5.850, approaching the suggested targets in the previous report.

Note that holding above $5.8100 level might allow it to begin forming bullish waves, to target $6.0200 level, to press at $6.1200 barrier, while facing new bearish pressures might force it to resume the corrective decline by reaching below $5.8100, to expect targeting $5.7000 and $5.5900 level.

The expected trading range for today is between $5.8100 and $6.0200

Trend forecast: Fluctuating within the bullish trend

Domestic coffee prices today

The domestic coffee market this morning, April 29th, recorded very strong growth momentum in all key growing areas of the Central Highlands.

According to surveys, the average purchase price throughout the region has jumped up by another 1,700 VND/kg, bringing the average price level to the threshold of 88,700 VND/kg.

In Dak Nong province (old), coffee prices recorded the highest increase with 1,800 VND, pushing the purchase price to the mark of 88,800 VND/kg.

Dak Lak and Gia Lai provinces both have an increase of 1,600 VND, currently trading stably at 88,600 VND/kg.

Lam Dong area listed a price of 88. 100 VND/kg after recovering by another 1,600 VND compared to yesterday’s session. This increase shows that the market is reacting positively to signals of tightening supply from international reserves.

World coffee prices today

Developments on world exchanges last night were also brilliantly green as the decline in inventory triggered a buying wave. Robusta coffee prices on the London exchange for July delivery increased by another 53 USD (equivalent to 1.55%), closing the session at 3,481 USD/ton.

At the same time, the New York exchange witnessed the price of Arabica for July delivery increase by another 2.20 cent (equivalent to 0.76%), closing at 290.70 cents/lb. Arabica inventories monitored by ICE have fallen to a 2-month low of 494,508 bags, while Robusta inventories also anchored at a 16-month record low of only 3,755 lots. These figures show that actual supply is being significantly tightened, creating a solid momentum for futures prices to break through.

Besides the inventory factor, geopolitical tensions in the Middle East continue to be an important pillar for coffee prices. Concerns about a prolonged war between the US and Iran that would cause the Hormuz Strait to be closed are disrupting the global supply chain. The blockade of this vital sea route has directly pushed up freight rates, insurance costs, fuel and fertilizer prices, putting great pressure on the cost of goods from roasters and international importers.

In South America, Brazil’s coffee exports in March recorded a sharp drop of 10% to 31% depending on the report, showing that the volume of goods pushed into the market from the world’s number one producer is showing signs of slowing down.

However, investors are still cautious about the prospect of Brazil’s record crop season next crop year with expected output reaching 75.9 million bags. At the same time, the global coffee surplus report for 2026 expanding to 10 million bags according to StoneX is still a factor hindering the overheated increase in the long term.

In Vietnam, export growth in the first quarter reached 14% with 585,000 tons, which is also a barrier preventing Robusta prices from breaking out of high resistance zones.

It is forecasted that in the coming sessions, domestic coffee prices will continue to fluctuate strongly around the 87. 500 – 89. 500 VND/kg range.

Note: The actual prices in localities may differ depending on the quality of the seeds and actual transaction agreements.

Brent crude oil price continued rising on Wednesday after a new report suggested that President Donald Trump was considering a prolonged blockade in a bid to pressure Iran. It jumped to $110, up sharply from this month’s low of $87.

Trump considers prolonged blockade 

A media report by Bloomberg suggests that President Trump is considering a prolonged blockade in a bid to put pressure on the Iranians as storage space runs out.

This is a reaction to a recent report in which Iranians submitted an offer to the US. Its offer was to reopen the Strait of Hormuz in exchange for deferred talks on the nuclear program.

A continued closure of the Strait will lead to higher crude oil prices since 20% of all crude oil passes there.

Worse, there is a risk that the ceasefire will end, leading to the resumption of fighting. Analysts believe that the next phase of fighting will be worse as it will involve critical infrastructure.

In a recent post, Iran’s parliamentary speaker highlighted some of the cards, including bombing a critical Saudi Arabian pipeline that is delivering over 7 million barrels of oil per day.

He also pointed out that Houthis may help to close the Red Sea, which accounts for 12% of all oil shipments. This disruption will likely not be offset by the soaring US exports,which have jumped sharply in the past few weeks.

Therefore, the most likely scenario is where the West Texas Intermediate and Brent benchmarks continue rising in the coming months as long as the crisis continues.

Trump’s preparation for a prolonged ceasefire comes two weeks after he hinted at a long war by comparing the operation with other conflicts like Vietnam and Afghanistan.

Meanwhile, Brent crude oil price is reacting to the major breaking news that the United Arab Emirates (UAE) was exiting the OPEC cartel after decades.

Analysts believe that the country hopes to boost oil production, with estimates being that it can move from 3 million today to 5 million in the next few months. It is unclear whether other countries will follow the footsteps and exit the organization.

Brent crude oil price technical analysis 

Crude oil price chart | Source: TradingView

The daily chart shows that the price of Brent bottomed at $87.47 on April 17th after the two sides announced their ceasefire. It then rebounded to the current $110 as the blockade continues.

The price has remained above the Supertrend indicator since January 12 this year, a sign that bulls remain in control. It also jumped above the 50-day and 100-day Exponential Moving Averages (EMA).

The Relative Strength Index (RSI) has moved above the neutral point at 50 and is pointing upwards.

Therefore, the most likely crude oil price forecast is bullish, with the next key target being at the year-to-date high of $119. A move above that price will point to more gains towards $120.

The bullish outlook aligns with the recent Goldman Sachs forecast. In their report, the analysts pointed to the ongoing tapping of oil reserves by the US and its allies.

On the flip side, a drop below the support at $100 will invalidate the bullish outlook and point to more downside.