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 Swiss Franc.

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).

Created on February 11, 2025

• The euro has gapped lower to kick off the trading week, as we continue to see a lot of volatility in this pair.
• As it is likely that we will eventually see some type of trade spat between the United States and the European Union, I suspect that the euro is living on borrowed time any time it rallies.
• Furthermore, we also have to keep in mind that the European economy has barely grown over the last 20 years, while the US economy has doubled. Then short, there’s no real reason to buy the euro against the US dollar for a longer term trade.

Sure, there will be an occasional short-term rally in this market, but as things stand right now, the fundamental simply do not line up for a protracted uptrend. In fact, I suspect you have a situation where this market will eventually try to rally, but that should end up being a nice shorting opportunity at the first signs of exhaustion. After all, we have been in a downtrend for quite some time, and there’s no real reason to think that it’s about the change anytime soon. Ultimately, this is a market that I think goes to the parity level before it is all said and done.

Technical Analysis

The technical analysis for this EUR/USD pair is obviously quite bleak, but it is worth noting that the market recovered quite nicely from the initial gap lower on the open for the Monday session. That being said, the 50 Day EMA currently sits right around the 1.0425 level, and after that we see the 1.05 level offering a significant amount of resistance. It is not until we break above that I think the market could pick up any type of momentum, and it’s really not until we break above the 1.06 level that I think anything will be sustained.

To the downside, if we were to break down below the level 1.02, that opens up the door to parity, something that this pair seems to be destined to reach. In fact, I’m starting to read some highly respected research that suggests the euro could even drop down to the 0.90 level at this rate. I’m not calling for that yet, but I certainly think parity is not out of the question.

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Created on February 11, 2025

• The British pound initially rallied a bit against the Japanese yen, but as you can see, it has given back quite a bit of the gains as this is a market that remains very soft.
• You have to keep in mind that the Bank of England just cut interest rates by 25 basis points the other day.
• In fact, a couple of people on the monetary policy committee were suggesting we needed to see 50 basis points in cuts.

At the same time, you have the Bank of Japan mulling the idea of tightening monetary policy due to the fact that inflation is a problem in Japan for the first time in like 20 years. So, with that being the case, I do think that there is still more of a downward bias in this pair, perhaps to reach as low as the 185 yen level. Rallies at this point in time, I would treat with suspicion with the 190 yen level being an area I’d pay close attention to. If we can break above there, then we could challenge the 192.75 yen level where the 50 day EMA and the 200 day EMA currently meet and are crossing for the so-called death cross.

Death Cross?

Now I’m not a big figure in that kind of thinking when it comes to trading the death cross, but I know a lot of people are really into it. I don’t believe it so much. I think it’s normally late, but it is worth noting that some traders will look at this as a sign to start selling. If we do break down from here, the 185 yen level is an area that I think a lot of people will be watching closely as it is a large round and psychologically significant figure, but it’s also an area that on longer-term charts does show some promise at being support. If we break down below that level, then 180 yen could be the target. As things stand right now, I think this probably makes more sense as a fade the rally type of situation.

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• GBP/USD stays on the back foot, trades slightly above 1.2350 on Tuesday.
• The risk-averse market environment makes it difficult for the pair to stage a rebound.
• Fed Chairman Powell’s testimony and Trump tariff talks could ramp up market volatility.

GBP/USD struggles to gain traction and trades in a tight channel slightly above 1.2350 after closing in the negative territory on Monday. The pair’s technical outlook points to a buildup of bearish momentum as markets turn cautious while waiting for headlines surrounding US President Donald Trump’s trade policy and Federal Reserve (Fed) Chairman Jerome Powell’s testimony.

Late Monday, US President Donald Trump has signed an order to impose a sweeping 25% tariff on all steel and aluminum imports into the US. He further noted that his administration will look into tariffs on automobiles, microchips, and pharmaceuticals next. Trump is expected to share details on his reciprocal tariff plan “on many countries” this Tuesday or Wednesday.

Reflecting the risk-averse market atmosphere, US stock index futures were last seen losing between 0.2% and 0.4% on the day. 

In the early American session, Chairman Powell will testify on the semiannual Monetary Policy Report before the Senate Banking Committee. 

Lawmakers are likely to ask Powell about potential changes to the monetary policy and the economic outlook in the face of the Trump administration’s approach to trade relations. If Powell repeats that they need to be cautious regarding further policy easing, the US Dollar (USD) could stay resilient against its peers and limit GBP/USD’s upside. On the other hand, the market mood could improve and cause the USD to come under renewed selling pressure in case Powell notes that tariff decisions announced so far are unlikely to influence inflation developments in a significant way.

GBP/USD Technical Analysis

GBP/USD dropped below the 1.2390-1.2400 area, where the ascending trend line meets the 200-period and the 100-period Simple Moving Averages (SMA). In case this area remains intact as resistance, technical sellers could retain control. On the downside, 1.2300 (round level, static level) could be seen as next support before 1.2270 (Fibonacci 23.6% retracement of the latest downtrend)

GBP/USD could face resistance at 1.2450 (Fibonacci 50% retracement) and 1.2500 (round level, static level) once it manages to recapture 1.2390-1.2400.

SOL/USD price advanced in the intraday levels, while trading alongside the main upward trend in the short term, with positive signals from the RSI after reaching oversold levels, but countered with negative pressure due to trading below the 50-day SMA, thus hindering upcoming gains. 

Therefore we expect more gains for the price, targeting the first resistance at $223.20, provided the support of $187.40 holds on.

Trend forecast for today: Bullish 

SOL/USD price advanced in the intraday levels, while trading alongside the main upward trend in the short term, with positive signals from the RSI after reaching oversold levels, but countered with negative pressure due to trading below the 50-day SMA, thus hindering upcoming gains. 

Therefore we expect more gains for the price, targeting the first resistance at $223.20, provided the support of $187.40 holds on.

Trend forecast for today: Bullish 

Copper price resumed the bullish attack to achieve new gains by reaching the second target at 4.6900$, facing 61.8% Fibonacci correction level that might form an obstacle now against the bullish attempts.

Also, stochastic reach to the overbought areas might force the price to provide sideways trades, with chances to gain some profits by crawling towards 4.5400$, while succeeding to breach the current obstacle will open the way to record additional gains that might extend towards 4.8100$.

The expected trading range for today is between 4.5800$ and 4.6800$

Trend forecast: Bullish

The EURJPY pair ended the recent negative attack by holding above the major support at 155.30, to notice reacting to stochastic attempt to exit the oversold areas by forming bullish wave and settle near 156.60.

The frequent stability above the mentioned support allows us to suggest the correctional bullish track to attempt to provide strong pressures on 157.25 barrier, while surpassing it will push the price to decrease its losses by rallying towards 158.50, while facing new negative pressures and crawling below 155.30 will confirm its preparation to resume the negative attack, to expect targeting the historical support at 154.40.

The expected trading range for today is between 155.80 and 157.25

Trend forecast: Bullish

SOL/USD price advanced in the intraday levels, while trading alongside the main upward trend in the short term, with positive signals from the RSI after reaching oversold levels, but countered with negative pressure due to trading below the 50-day SMA, thus hindering upcoming gains. 

Therefore we expect more gains for the price, targeting the first resistance at $223.20, provided the support of $187.40 holds on.

Trend forecast for today: Bullish 

Created on February 10, 2025

• Recent trades were generally bullish for the Japanese yen against other major currencies, most notably the decline of the US dollar against the Japanese yen pair USD/JPY towards the support level of 150.93.
• This was the lowest for the currency pair in more than two months, and closed the week’s trading stable around the level of 151.38 after investors reacted to the announcement of US employment figures, which affects the future of the US Federal Reserve’s policy.

Why has the Japanese Yen strengthened recently?

According to recent trades on reliable trading platforms, the Japanese Yen has gained strength against other major currencies with growing expectations that the Bank of Japan will continue to raise interest rates this year. On Thursday last week, Bank of Japan board member Naoki Tamura stated that the central bank should raise the interest rate to at least 1% in the latter part of the 2025 fiscal year. Recent economic data also revealed a 2.7% year-on-year increase in household spending in Japan, which represents the first growth in five months and significantly exceeds the expected 0.2% gain.

In addition, data earlier this week showed that real wages rose for a second straight month in December, with nominal wage growth hitting its highest level in nearly three decades, largely driven by higher winter bonuses. Now, financial markets are speculating that Japan’s annual spring wage negotiations could yield another 5% increase this year.

Trading Tips:

We recommend buying the USD/JPY from any downward level but without taking excessive risk.

US Stock Markets Under Selling Pressure

At the end of last week’s trading, US stock markets were under selling pressure, as concerns about tariffs and inflation escalated again in Wall Street markets. According to stock trading platforms, the Standard & Poor’s 500 index fell by 0.9%, giving up the week’s gains. This is one of the worst declines for the index so far in the new year, but it remains close to the record it set two weeks ago.

According to trading, the Dow Jones Industrial Average fell by 444 points, the most prominent of which was a sharp decline in Amazon shares after its latest earnings report, which led to the Nasdaq Composite Index losing a market-leading 1.4%.

Conversely, US Treasury yields rose following a disappointing report on Friday morning that indicated a significant deterioration in sentiment among US consumers. The preliminary report from the University of Michigan showed that US consumers expect inflation to reach 4.3% in the coming year, the highest forecast since 2023. This was a full percentage point higher than what consumers expected a month ago, marking the second consecutive unusually large increase. Economists pointed to the possibility of imposing US tariffs on a wide range of imported products, as suggested by President Donald Trump, which could ultimately lead to higher prices for US consumers.

For his part, Trump said at a White House news conference on Friday that he would likely make an announcement on Monday or Tuesday about “reciprocal tariffs, where one country pays a lot or we pay a lot, and we do the same.”

The U.S. consumer sentiment data followed a mixed update on the labour market, often the most widely anticipated economic report each month. The data showed that U.S. hiring last month was less than half the rate in December, but it also included encouraging signs for workers: The unemployment rate fell, and workers saw bigger gains in average wages than economists had expected. Overall, all the data combined could keep the Fed on hold when it comes to US interest rates. The Fed began cutting its key interest rate in September to ease pressure on the economy and labour market, but warned at the end of the year that it may cut less frequently in 2025 than previously expected given concerns about stubbornly high inflation.

USD/JPY Technical Analysis and Expectations Today:

In recent trades, the USD/JPY currency pair has been trading below the 100-hour moving average. The pair rebounded to avoid reaching oversold levels on the 14-hour Relative Strength Index. In the near term, bears will aim to continue the current decline towards support levels of 151.20 or lower to the psychological level of 150.00. Conversely, bulls will aim to take advantage of rebounds to around 152.00 or higher at the resistance of 153.20.

In the long term, based on the daily chart, USD/JPY is also trading in a descending channel formation. Technically, the 14-day RSI continues to support the bearish bias as it approaches oversold levels. Therefore, bears will target long-term declines around 148.85 or lower at 145.00 support. Conversely, on the same time frame, bulls will look to capitalize on a bounce higher for gains around 155.30 or higher at 158.00 resistance.

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