Binance Coin’s currency price (BNBUSD) rose in the intraday after the current support of $534.7 held on, with the price trying to recoup some recent losses, amid the dominance of the downward correctional trend in the short term, with negative pressure due to trading below the 50-day SMA, coupled with negative signals from the RSI.
Therefore we expect the price to return lower, provided the aforementioned support of $534.7 was breached, thus targeting the pivotal support of $471.5.
Tweezers bottom’ pattern formed at 146.54 signals potential short-term trend reversal.
RSI flattens, suggesting bearish momentum is losing steam.
Key upside resistance seen at 148.00; clearance opens the door toward Senkou Span A at 149.79.
The USD/JPY rises as trade tensions loom due to back-and-forth tariff rhetoric between Canada and the United States (US), which initially weighed on the US Dollar. Nevertheless, as both countries agreed to lift tariffs, the pair advanced and traded at 147.77, up 0.34%.
USD/JPY Price Forecast: Technical outlook
USD/JPY formed a ‘tweezers bottom’ two candle chart pattern near the year-to-date (YTD) low of 146.54, hinting that the downtrend seems overextended after dropping from around 158.00 toward the current exchange rates. Despite being bearish, the Relative Strength Index (RSI) is flat, indicating that selling pressure is fading.
For a bearish continuation, USD/JPY needs to clear the YTD low of 146.54. If surpassed the next stop would be the September 30 swing low of 141.64, followed by the September 16 low of 139.58.
Conversely, if USD/JPY climbs above 148.00 a rally towards testing the Senkou Span A at 149.79 is on the cards.
USD/JPY Price Chart – Daily
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 Euro.
USD
EUR
GBP
JPY
CAD
AUD
NZD
CHF
USD
0.02%
0.01%
0.00%
-0.05%
0.03%
0.00%
-0.02%
EUR
-0.02%
-0.01%
-0.06%
-0.06%
0.00%
-0.02%
-0.04%
GBP
-0.01%
0.01%
-0.02%
-0.05%
0.02%
-0.01%
-0.02%
JPY
0.00%
0.06%
0.02%
-0.03%
0.05%
0.00%
0.01%
CAD
0.05%
0.06%
0.05%
0.03%
0.08%
0.04%
0.03%
AUD
-0.03%
-0.01%
-0.02%
-0.05%
-0.08%
-0.03%
-0.04%
NZD
0.00%
0.02%
0.00%
-0.01%
-0.04%
0.03%
-0.01%
CHF
0.02%
0.04%
0.02%
-0.01%
-0.03%
0.04%
0.00%
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 GBP/USD price analysis shows solid bullish momentum.
The dollar has remained fragile amid worries about a likely US recession.
Traders expect at least three Fed rate cuts this year.
The GBP/USD price analysis shows solid bullish momentum as the pound holds near recent peaks due to dollar weakness. The sterling has maintained a bullish rally since the start of March as the dollar collapsed due to US economic worries. At the same time, market participants expect the Bank of England to keep rates unchanged next week.
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The dollar has remained fragile amid worries about a likely US recession due to Trump’s tariffs. The US president caused market turmoil last week by implementing new tariffs and suspending some. Traders are worried that his aggressive approach will spark trade wars that will cause an economic slowdown in the US. Decreased trade between the US and its partners means local companies suffer. If this happens, other parts of the economy will decline like the labor sector and consumer spending.
At the same time, recent US data has revealed slower demand, raising expectations for Fed rate cuts this year. On Friday, data showed slower job growth and higher unemployment in February. As a result, traders expect at least three Fed rate cuts this year. The upcoming inflation report will keep shaping this outlook.
On the other hand, market participants expect the Bank of England to keep rates unchanged next week amid the recent economic recovery.
GBP/USD key events today
GBP/USD technical price analysis: Bullish momentum pauses after a steep climb
GBP/USD 4-hour chart
On the technical side, the GBP/USD price has met a solid hurdle at the 1.2951 level. However, the price still trades above the 30-SMA, with the RSI above 50, indicating a bullish bias. The price rose steeply after breaking above the pivotal 1.2701 resistance level.
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However, the rally has slowed down, and bullish momentum is fading. Price action is confined to a tight range. At the same time, the RSI has made a bearish divergence, suggesting a likely reversal. If bears are ready to take control, the price will break below the 30-SMA and fall to retest the 1.2701 support.
On the other hand, if bullish momentum remains strong, the price will soon break above the 1.2951 resistance. Such a move would clear the path to the 1.3100 key psychological level and a new high in the bullish trend.
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EUR/USD trades at fresh multi-month highs near 1.0900 early Tuesday.
The pair could have a difficult time gathering bullish momentum in the near term.
The US economic calendar will feature mid-tier data releases.
EUR/USD gains traction and trades at its highest level since early November near 1.0900 in the European morning on Tuesday. The pair’s overbought conditions and the risk-averse market atmosphere could cause buyers to refrain from betting on another steady leg higher in the near term.
Euro PRICE Last 7 days
The table below shows the percentage change of Euro (EUR) against listed major currencies last 7 days. Euro was the strongest against the US Dollar.
USD
EUR
GBP
JPY
CAD
AUD
NZD
CHF
USD
-3.86%
-1.78%
-1.54%
-0.65%
-1.10%
-1.58%
-1.85%
EUR
3.86%
2.15%
2.42%
3.34%
2.87%
2.37%
2.07%
GBP
1.78%
-2.15%
0.27%
1.15%
0.69%
0.22%
-0.08%
JPY
1.54%
-2.42%
-0.27%
0.90%
0.44%
-0.05%
-0.32%
CAD
0.65%
-3.34%
-1.15%
-0.90%
-0.46%
-0.93%
-1.22%
AUD
1.10%
-2.87%
-0.69%
-0.44%
0.46%
-0.48%
-0.78%
NZD
1.58%
-2.37%
-0.22%
0.05%
0.93%
0.48%
-0.28%
CHF
1.85%
-2.07%
0.08%
0.32%
1.22%
0.78%
0.28%
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 Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
Major equity indexes in the US started the week under immense bearish pressure amid growing fears over the US economy tipping into recession.
When asked whether his policies could weigh on the economic activity in an interview over the weekend, US President Donald Trump acknowledged that there will be a “period of transition.” On Monday, the Nasdaq Composite fell 3.8%, the S&P 500 lost 2.7% and the Dow Jones Industrial Average declined more than 2%. Reflecting the intense flight to safety, the CBOE Volatility Index (VIX), also known as Wall Street’s fear gauge, rose about 20% on the day.
The US economic calendar will feature NFIB Business Optimism Index for February and JOLTS Job Openings data for January. A significant decline in the business sentiment data could weigh on the US Dollar (USD) with the immediate reaction. On Wednesday, the US Bureau of Labor Statistics will publish the Consumer Price Index (CPI) data for February, which could trigger the next big action in EUR/USD.
EUR/USD Technical Analysis
The Relative Strength Index (RSI) indicator on the 4-hour chart rose above 70, suggesting that EUR/USD turned technically overbought, once again, after a short-lasting correction. In case the pair holds above 1.0900 (static level, round level) and confirms this level as support, 1.0940 (static level) could be seen as next resistance before 1.1000 (psychological level, static level).
On the downside, 1.0840 (20-period Simple Moving Average (SMA)) aligns as interim support before 1.0800 (static level, round level) and 1.0730 (200-day SMA).
Euro FAQs
The Euro is the currency for the 19 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day. EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY (4%), EUR/GBP (3%) and EUR/AUD (2%).
The European Central Bank (ECB) in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy. The ECB’s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth. Its primary tool is the raising or lowering of interest rates. Relatively high interest rates – or the expectation of higher rates – will usually benefit the Euro and vice versa. The ECB Governing Council makes monetary policy decisions at meetings held eight times a year. Decisions are made by heads of the Eurozone national banks and six permanent members, including the President of the ECB, Christine Lagarde.
Eurozone inflation data, measured by the Harmonized Index of Consumer Prices (HICP), is an important econometric for the Euro. If inflation rises more than expected, especially if above the ECB’s 2% target, it obliges the ECB to raise interest rates to bring it back under control. Relatively high interest rates compared to its counterparts will usually benefit the Euro, as it makes the region more attractive as a place for global investors to park their money.
Data releases gauge the health of the economy and can impact on the Euro. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the single currency. A strong economy is good for the Euro. Not only does it attract more foreign investment but it may encourage the ECB to put up interest rates, which will directly strengthen the Euro. Otherwise, if economic data is weak, the Euro is likely to fall. Economic data for the four largest economies in the euro area (Germany, France, Italy and Spain) are especially significant, as they account for 75% of the Eurozone’s economy.
Another significant data release for the Euro is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period. If a country produces highly sought after exports then its currency will gain in value purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.
Despite facing strong negative pressures yesterday, the GBPJPY pair stability above the additional support line at 188.50 forms major factor to reinforce the domination of the previously suggested bullish bias, to notice rallying towards 189.70 now.
We assure the importance of providing positive close above 189.70 level to open the way to form strong bullish waves and target 190.65 followed by reaching 192.00 levels, while declining below 188.50 and providing negative close below it will push the price to back to the negative track to suffer big losses that might start at 187.10.
The expected trading range for today is between 188.50 and 190.65
Despite facing strong negative pressures yesterday, the GBPJPY pair stability above the additional support line at 188.50 forms major factor to reinforce the domination of the previously suggested bullish bias, to notice rallying towards 189.70 now.
We assure the importance of providing positive close above 189.70 level to open the way to form strong bullish waves and target 190.65 followed by reaching 192.00 levels, while declining below 188.50 and providing negative close below it will push the price to back to the negative track to suffer big losses that might start at 187.10.
The expected trading range for today is between 188.50 and 190.65
The GBPUSD price finds difficulty to surpass 1.2925$ level, to show negative trades and move below 1.2900$ barrier, while the EMA50 provides continuous positive support to the price, noticing that the RSI attempts to get rid of its negative momentum on the intraday time frames.
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The GBPUSD price finds difficulty to surpass 1.2925$ level, to show negative trades and move below 1.2900$ barrier, while the EMA50 provides continuous positive support to the price, noticing that the RSI attempts to get rid of its negative momentum on the intraday time frames.
To review the full report, and to get our more detailed analysis and 100% accurate signals provided by Best Trading Signal, subscribe to Economies.com VIP Club through the link below!
The British pound has fluctuated back and forth during Monday’s trading session against the US dollar, showing some hesitation.
The market is currently hovering around the 1.29 level and the 61.8% Fibonacci retracement level, which suggests that additional sellers could emerge in this area.
This is an area that I think could open up the possibility of a major move, and not necessarily to the upside, despite the odds suggesting it at the moment.
A Massive Barrier
The zone between 1.29 and 1.30 could act as a major barrier. If the pair breaks above the 1.30 level, the British pound may have room to move higher. However, given the extended nature of the market, it is more likely that we either see sideways movement or a pullback. If the price drops below the recent lows of the last few days, a decline toward the 1.2750 level becomes a possibility.
That being said, it is also important to recognize that this could simply be a reversion to the mean. Observing the chart, the sharp and aggressive move higher is evident. Some traders may also view this as an inverted head and shoulders pattern that recently broke, with the measured move from the head to the neckline suggesting a potential rally toward the 1.3350 level, which aligns with the previous swing high.
That level was last seen around mid-2024, and whether or not the market reaches that point remains uncertain. In the short term, a pullback seems more likely than not. Whether this ultimately shifts the overall trend of the pair is another question entirely. Because of this, I am a bit hesitant to get long of this market in general, and this is a situation where traders will continue to see the US dollar be the main driver of where we are going to say the least.
