The EURJPY pair is affected by the stability at 184.40 barrier in the last period, which forces it to form new negative trading, approaching the initial negative target at 182.90 as appears in the above image.

Note that stochastic stability below 80 level might push the price to provide more negative trading, to attempt to target 182.45 level reaching %23.6 Fibonacci correction level near 182.00, while its rally again above 184.40 will confirm its move to the bullish track, to attempt to achieve several gains by its rally towards 184.80 and 185.45.

The expected trading range for today is between 182.00 and 183.65

Trend forecast: Fluctuated within the bearish trend

Created on March 13, 2026

• The Canadian dollar continues to see a lot of momentum against the Japanese yen overall, as oil drives this pair higher.

• The Canadian dollar dropped a bit against the Japanese Yen in early trading on Thursday but then turned around to show signs of life.

• The market is currently hanging around the 117 Yen level, an area that I think is important as it is a large round psychologically significant figure and an area that a lot of traders will be watching due to the fact that markets do tend to be very technical when all else fails.

Keep in mind that the oil market is important to watch and as oil continues to be very strong it does make a certain amount of sense that money goes into the Canadian dollar especially against the Japanese Yen which represents an economy that number 1 has a central bank that can’t tighten monetary policy and therefore interest rates will remain low.

But we also have to keep in mind that the Japanese import 100% of their crude oil and therefore it is one of the best trades that I know of that you can do to take advantage of oil rallying, as this is such a clean set up for those looking to trade oil without the danger of futures.

Support Levels and Technical Targets

The 115.50 Yen level underneath is a significant support level based by the previous resistance. We had been consolidating between 112 Yen and 115.5 Yen and that suggests a 250 pip move.

That would have the Canadian dollar reaching the 118 Yen level before it’s all said and done. There’s nothing on this chart that suggests to me that it can’t happen and therefore I think short-term pullbacks are buying opportunities that we can take advantage of in a market that has a lot of momentum.

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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.

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DAX Falls as Oil Rises Back Up to $100 Per Barrel

The , along with its European peers, is extending losses on Thursday as oil prices jump again, fuelling concerns about a potential supply shock and rising inflationary pressures amid the war in the Middle East.

climbed back above $100 a barrel after fuel tankers were attacked in the Persian Gulf and as the conflict between Iran and US-Israeli forces appeared far from being resolved.

Europe, which is heavily reliant on oil imports, could see inflation climb if crude prices remain elevated for an extended period, adding pressure to already lacklustre regional growth.

Prior to the Iran war, the ECB was expected to leave interest rates unchanged this year. However, money markets are now pricing in an ECB rate hike by July, with an 85% probability of another increase by December.

Economically sensitive banks are leading the sector lower, while ongoing geopolitical concerns are supporting defence stocks.

BMW is falling 2.3% after the carmaker forecast that pretax earnings will decline moderately this year and that deliveries will stagnate.

There is no major eurozone or German data due to be released today. The US economic calendar is also quiet, so developments surrounding the Middle East conflict will likely be the key market driver.

DAX Forecast – Technical Analysis

After running into resistance at 25,400, the DAX rebounded lower, breaking below its 50 and 200 SMA and its multi-month rising trendline, falling to a low of 22,700. The taking out of these key supports, combined with the RSI below 50, keeps sellers hopeful of further declines.

Immediate support is at 23,400. A break below here opens the door to 22,900, the November low, and 22,700, the 2026 low. A break below here creates a lower low.

Buyers would need to rise above 24,000 to create a more stable footing, and 24,200 to the 200 SMA.

GBP/USD Falls Ahead of BoE Bailey’s Speech and on Safe-Haven USD Flows

is falling for a third straight day as gilt yields rise and the US dollar benefits from safe-haven flows. BoE Governor Andrew Bailey is due to speak.

The is extending gains toward its 2026 highs amid volatile oil prices, stoking inflation worries that could prompt the Federal Reserve to reassess the need for . The dollar is also supported by its safe-haven appeal and by the US’s status as a net energy exporter.

Oil markets have remained volatile even after the International Energy Agency agreed to release a record 400 million barrels of oil from strategic stockpiles. However, markets are not convinced that this will stabilise prices.

Meanwhile, the pound is under pressure as gilt yields rise to a 6.5-month high. Rising oil prices are stoking concerns over inflationary pressures. The Bank of England, which was previously expected to cut rates this month, may instead be forced to hike rates before the end of the year.

The aggressive repricing of BoE rate-cut expectations is providing some support to GBP.

Traders will now look to Bank of England Governor Andrew Bailey’s speech later today for further insight into the outlook for rates, along with the monthly UK figures due tomorrow. For now, the focus will remain on geopolitical developments and concerns over the war-driven surge in energy prices and inflationary pressures.

GBP/USD Forecast – Technical Analysis

GBP/USD ran into resistance at 1.3870, rebounded lower, broke below the near-term rising trendline, 50, and 200 SMA, and reached a low of 1.3250. The price recovered from this low but failed to rise above the 200 SMA, keeping the bearish bias in place.

Sellers will look to take out support at 1.3350 and 1.3250, the 2026 low, to create a lower low and extend the bearish move towards 1.32 and 1.30.

Buyers would need to rise above the 200 SMA at 1.3450 to create a higher high and exposes the 50 SMA at 1.3530.

Original Post

The EURCAD price remains affected by the negative pressures, to move away from 1.6100 resistance, forming strong bearish waves, to achieve several negative targets by reaching 1.5620.

Forming extra barrier at 1.5870 level and stochastic attempt to provide negative momentum, we expect renewing the bearish attempts until reaching the next main target at 1.5520, facing the moving average 55, which might form a strong obstacle against the attempts of resuming the decline in the near trading.

The expected trading range for today is between 1.5520 and 1.5760

Trend forecast: Bearish

– Written by


Tim Boyer

STORY LINK Pound-to-Euro Forecast: GBP/USD Tests 1.16 Resistance as Bond Yields Surge

The Pound to Euro exchange rate (GBP/EUR) remained firm near 1.1575, hovering close to five-week highs, as rising UK bond yields and shifting Bank of England policy expectations continued to underpin Sterling.

Markets have rapidly scaled back expectations of near-term rate cuts following the recent surge in energy prices, helping the Pound outperform even as equities weaken and speculation grows that the European Central Bank could consider further tightening.

GBP/EUR Forecasts: Close to 5-Week Highs,/h3>

Pound-Euro found support on dips and is trading around 1.1575, close to 5-week highs. The pair also remains significantly higher than levels before the US attacks on Iran. Further tough resistance comes in around 1.16.

ING sees Bank of England chatter as overblown and is not backing further Pound gains; “We continue to favour a return to 0.870 rather than a drop to 0.860.” (This converts to a GBP/EUR drop to at least 1.15)

Equities lost ground on Wednesday which hampered the Pound to some extent and there has been an increase in speculation over an ECB rate hike, but Sterling remains resilient.

Chatter surrounding interest rates and energy-price developments remain key elements. As far as UK data is concerned, the next GDP release is due on Friday with expectations of 0.2% growth for January.

There has been renewed selling in gilts on Wednesday with the 10-year bond yield above 4.60% from a Tuesday close near 4.50%.

Markets have ruled out a near-term Bank of England (BoE) rate cut and are less confident over a cut over the next few months. This shift has been triggered by stronger energy prices, although volatility remains intense.

ING commented on higher UK yields; “The move does, however, start to look a bit stretched according to our short-term valuation metrics, and the decline in oil prices below $90 today may well encourage some dovish re-assessment in UK rate expectations and prompt a correction higher in EUR/GBP.

MUFG commented on the outlook; “The MPC will certainly be more wary of cutting rates given the fact that there are already a number of hawks who were concerned, prior to this energy price spike, about the continued stickiness of underlying inflation.”

The bank notes mixed implications; “Yield certainly appears to be providing the pound with support but whether that would persist is questionable given the potential hit to real incomes.”

Higher yields will also trigger fresh concerns surrounding the fiscal outlook.

There will be no immediate impact on utility prices until the July change in the OFGEM price cap. Indeed, prices will decline in April.

MUFG did, however, note; “Mortgage rate increases and petrol pump price increases will happen quickly.”

ECB policy expectations will also be monitored closely. ING noted; “This morning, we heard a more aggressively hawkish remark by Governing Council member Peter Kazimir, who said a rate hike on the back of the Iran conflict may be closer than thought.”

Bank President Lagarde also stated that the bank would not tolerate a repeat of the 2022/23 jump in inflation. Following the comments, markets are pricing in a 60% chance of a rate hike by June.

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The EURJPY pair failed in resuming the bullish track, due to its fluctuation below 184.40 level, to form bearish wave to settle near 183.50 level.

The suggested scenario in near trading depends on the strength of the mentioned barrier, as its stability makes us expect forming bearish waves to attempt to reach 182.90 and 182.50, while the price rally above the barrier and providing positive close will increase the chances of forming extra gains, to expect its rally towards 184.80 and 185.45 directly.

The expected trading range for today is between 182.90 and 184.00

Trend forecast: Bearish

– Written by


Tim Boyer

STORY LINK GBP/USD Forecast: Pound Sterling Slips as US Inflation Holds Firm

The Pound to US Dollar (GBP/USD) exchange rate drifted lower on Wednesday following the release of the latest US inflation data.

At the time of writing, GBP/USD was trading near $1.3392, down roughly 0.2% from the start of the session.

The US Dollar gained modest ground after the publication of the newest US consumer price index figures.

Data released by the US Bureau of Labor Statistics showed that headline inflation held steady at 2.4% in February, while the core rate remained unchanged at 2.5%. Both readings matched market expectations.

These figures lent the ‘Greenback’ some support as they reinforced the view that inflationary pressures in the US are proving difficult to fully tame. As a result, investors are increasingly convinced that the Federal Reserve may keep interest rates at restrictive levels for longer.

Fed officials have repeatedly emphasised the importance of seeing sustained progress toward their inflation target before considering policy easing, a stance that continues to underpin the US currency.

Additional support for the Dollar came from developments in energy markets. Oil prices moved higher during Wednesday’s session, as traders remained doubtful that the International Energy Agency’s plan to release up to 400 million barrels of crude would fully offset supply disruptions linked to the effective shutdown of the Strait of Hormuz.

Although Sterling lost ground against the US Dollar, it performed better against several other major currencies as markets continued to reassess expectations for Bank of England policy.

Rising geopolitical tensions and higher energy costs have fuelled concerns that inflation in the UK could accelerate again, prompting investors to dial back their expectations for interest rate cuts.

Where markets had previously anticipated multiple reductions in borrowing costs over the next year, many traders are now questioning whether the Bank of England will be able to lower rates at all in 2026 if price pressures intensify.

Short-Term GBP/USD Forecast: Bailey Speech in Focus

Remarks from Bank of England Governor Andrew Bailey could provide fresh direction for the Pound to US Dollar exchange rate.

Investors will be watching closely for any indication that the recent spike in energy prices might influence the central bank’s policy thinking. Should Bailey hint that inflation risks could delay or halt the Bank of England’s easing cycle, Sterling may receive a boost.

At the same time, the release of the latest US labour market figures could influence the Dollar. Stronger-than-expected initial jobless claims data may reinforce confidence in the resilience of the US economy and offer further support to the currency.

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