Created on November 06, 2025

• The U.S. dollar rebounded from support near ¥153 on Wednesday, holding firm amid persistent yen weakness.
• With resistance at ¥154.50 and potential toward ¥155, I remain bullish, favoring dips as buying opportunities given Japan’s dovish stance.

The U.S. dollar initially fell against the Japanese yen during trading on Wednesday to test the crucial ¥153 level. That being said, the market has found that area as important, which is not a huge surprise considering that it was the previous resistance barrier. Therefore, we would have to think there’s a certain amount of market memory in this region.

By dropping initially only to turn around and show signs of strength, we are now threatening the ¥154.50 level, an area that’s been like a brick wall over the last week or so. If we can clear that area, then the ¥155 level suddenly comes into the picture. Anything above that, and we really start to take off to the upside. Don’t forget that the interest rate differential between the United States and Japan continues to be very wide, and therefore, you get paid quite nicely at the end of every day to hold this pair. The Japanese yen has been selling off not only against the U.S. dollar but almost every other currency that I follow as well.

BoJ is Stuck

Simply put, the Bank of Japan continues to show a lot of hesitation, and therefore, I think the market anticipates that they won’t be able to do anything anytime soon. All things being equal, this is a market that will continue to see a lot of choppy volatility, but short-term pullbacks open up the possibility of finding a little bit of value, just as we had seen during the beginning of the Wednesday session.

If we were to break down below the ¥153 level, then it’s possible that we could go looking to the ¥151.50 level. That is an area where you would start to think about intersecting with the 50-day EMA, which, of course, is an indicator that a lot of people watch closely. Ultimately, this is a market that I’ve been bullish on for several months, and I think that is going to continue to be the way forward. I have no interest in buying the yen in this environment.

Want to trade our USD/JPY forex analysis and predictions? Here’s a list of forex brokers in Japan to check out.

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.

Created on November 06, 2025

EUR/USD Analysis Summary Today

• Overall Trend: : Bearish
• Support Levels for EUR/USD Today: 1.1470 – 1.1400 – 1.1320
• Resistance Levels for EUR/USD Today: 1.1600 – 1.1680 – 1.1770

EUR/USD Trading Signals:

• Buy EUR/USD from the support level of 1.1440 with a target of 1.1700 and a stop-loss at 1.1370.
• Sell EUR/USD from the resistance level of 1.1700 with a target of 1.1500 and a stop-loss at 1.1780.

Technical Analysis of EUR/USD Today:

As observed in recent performance, the EUR/USD pair is trading within a clearly defined descending trend line, respecting the downward resistance level that has capped price rises since mid-September. The Euro/Dollar recently rebounded from the support level at 1.1464, and it appears to be correcting toward the upper resistance zone.

A potential pullback from current levels could lead the EUR/USD pair back to the broken support-turned-resistance area, which now coincides with key Fibonacci retracement levels.

• The 38.2% Fibonacci retracement level is located at 1.1550.
• The 50% Fibonacci retracement level is located at 1.1576.
• A more substantial correction could reach the 61.8% Fibonacci retracement level at 1.1602, which aligns with the descending trend line and previous consolidation zones.

This confluence of technical factors makes the key psychological level of 1.1600 a critical resistance area that could serve as a dividing line for the downward trend. If any of the Fibonacci resistance levels hold as a ceiling, the EUR/USD pair may resume its decline towards the swing low at 1.14648 or lower, most likely targeting the psychological level of 1.1400.

The 100 Simple Moving Average (SMA) is below the 200 Simple Moving Average (SMA), confirming that the strongest path remains bearish. Both moving averages converge with the Fibonacci levels and the broken support, forming a strong ceiling that may hinder any recovery attempts. The price is currently trading below both indicators, reinforcing the bearish structure.

Recently, on reputable trading platforms, the Stochastic oscillator has rebounded from oversold territory and is now hovering in the middle range, suggesting there is still room for the corrective bounce to extend. However, once the oscillator reaches overbought territory, selling pressure could intensify. The Relative Strength Index (RSI) is also trending upwards from its lower range and has room to rise before reaching overbought levels near 70. Clearly, this suggests that buyers may maintain their short-term momentum during the pullback

Trading Advice:

We advise you to anticipate more downward movement for the Euro/Dollar until factors emerge that increase investor confidence in the end of the US government shutdown, at the very least.

Factors Affecting Currency Prices

Please note that the EUR/USD pair may continue to be influenced by US economic data, despite the limited releases due to the ongoing government shutdown. Indications suggesting a possible interest rate cut by the US Federal Reserve in December could mean further dollar depreciation, while positive results could trigger risk aversion and a dollar rally.

Today’s agenda includes the announcement of the German Industrial Production rate at 9:00 AM Egypt time, followed by the announcement of Eurozone Retail Sales figures at 12:00 PM Egypt time. On the US side, the market will react to statements from several Federal Reserve policy officials.

Ready to trade our daily Forex analysis? We’ve made this forex brokers list for you to check out.

– Written by


Frank Davies

STORY LINK British Pound to Dollar Forecast: GBP/USD Clings to 1.30 as Traders Eye BoE

The Pound-to-Dollar exchange rate (GBP/USD) held just above 1.3000 on Wednesday, trading around 1.3020, as stronger-than-expected US data and lingering doubts over another Fed rate cut kept the dollar firm ahead of Thursday’s Bank of England policy decision.

GBP/USD Forecasts: Battling to Hold 1.30 Support into BoE Call

The Pound found support just above 1.3000 against the US Dollar on Wednesday and traded around 1.3020 after the latest US data came in slightly stronger than expected.

Sterling markets were subdued ahead of Thursday’s Bank of England policy decision.

The dollar maintained a firm tone amid further doubts whether another Fed rate cut in December was realistic.

Equity markets were fragile, but losses were limited and the FTSE 100 index was in positive territory which limited the scope for further Pound selling.

UoB commented; “Today, there is a chance for GBP to break below 1.3000, but given the deeply oversold conditions, any further decline is unlikely to reach the next support at 1.2960. Resistance is at 1.3045; a breach of 1.3070 would indicate that GBP is unlikely to weaken further.”

Scotiabank also noted potential support near 1.30; “Additional support maybe found just below the level, given March/April congestion in the mid1.28s/1.30 area. We look to a near-term range bound between 1.30 and 1.31.”

ING takes a similar view; “GBP/USD has some decent support at 1.2950/3000.”

The US economy will remain a key near-term focus with markets also watching the US government shutdown amid some speculation that a deal to re-open was close.

US ADP data recorded an increase in private payrolls of 42,000 for October compared with consensus forecasts of around 32,000 and followed the revised 29,000 decline for September.

ADP chief economist Dr. Nela Richardson commented; “Private employers added jobs in October for the first time since July, but hiring was modest relative to what we reported earlier this year.” Meanwhile, pay growth has been largely flat for more than a year, indicating that shifts in supply and demand are balanced.”

Elsewhere, the ISM non-manufacturing index strengthened to 52.4 for October from 50.0 previously with a faster rate of price increases.

UK fundamentals will also be crucial with the BoE policy decision on Thursday while fiscal policy remains a key underlying element for the Pound.

According to Scotiabank; “Focus remains squarely centered on the UK’s fiscal situation and the likelihood of even greater fiscal shortfalls.”

MUFG noted some possible upside; “If the fiscal hole is smaller than expected, it is certainly feasible that the budget could then raise enough revenues to build a larger fiscal headroom while also avoiding a breach of the key election manifesto promises. It might therefore be that the negativity related to the budget pushing Gilt yields and the pound lower could become overdone.”

Like this piece? Please share with your friends and colleagues:

International Money Transfer? Ask our resident FX expert a money transfer question or try John’s new, free, no-obligation personal service! ,where he helps every step of the way,
ensuring you get the best exchange rates on your currency requirements.

TAGS: Pound Dollar Forecasts

The EURJPY pair faced 175.70 level in its last corrective decline, which formed extra support, to reduce the negative effect by its stability, by the above image, we notice its rally above 177.05 barrier.

The price needs a new bullish momentum to allow it to provide a new positive close above 177.05 level, to reinforce the efficiency of the bullish track by its rally towards 177.95 and 178.75.

The expected trading range for today is between 176.65 and 177.95

Trend forecast: Bullish

Created on November 05, 2025

EUR/USD Analysis Summary Today

• Overall Trend: : Bearish
• Support Levels for EUR/USD Today: 1.1460 – 1.1400 – 1.1360
• Resistance Levels for EUR/USD Today: 1.1550 – 1.1630 – 1.1700

EUR/USD Trading Signals:

• Buy EUR/USD from the support level of 1.1430 with a target of 1.1600 and a stop-loss at 1.1370.
• Sell EUR/USD from the resistance level of 1.1660 with a target of 1.1400 and a stop-loss at 1.1740.

Technical Analysis of EUR/USD Today:

According to recent currency market trading, the EUR/USD exchange rate has failed to gain any momentum in global markets, falling to its lowest level in three months below the psychological support level of 1.1500. Losses extended to the support level of 1.1477, confirming our technical expectations of increased downward momentum for the EUR/USD once it stabilized below the 1.1600 support level, which has indeed occurred. Technically, further weakness in the euro is not ruled out. A positive divergence is forming in momentum indicators, and it is unlikely that any further decline will push technical indicators towards oversold levels. It’s worth noting that the 14-day Relative Strength Index (RSI) is around 33, close to the oversold line, while the MACD lines are steadily trending downwards, supporting the bears’ current control of the trend.

Based on the daily chart, the EUR/USD bullish scenario remains contingent on a return to the 1.1800 resistance level. Today, Wednesday, the EUR/USD will be influenced by the release of the Eurozone Services PMI, starting with the Spanish version at 10:15 AM Egypt time, followed by the Eurozone overall PMI at 11:00 AM Egypt time, and then, an hour later, the Eurozone Producer Price Index (PPI). On the US side, the focus will be on the ADP Non-Farm Employment Change report, followed by the ISM Services PMI at 5:00 PM Egypt time.

US Jobs Data Under Scrutiny

Forex traders believe that the 1.1500 support level will remain the bottom of the EUR/USD range, but this will require some weaker US jobs data to provide some breathing room. Experts also pointed to developments in the financial markets as a significant factor influencing the strength of the US dollar. The US Treasury is rebuilding its cash reserves, putting upward pressure on interest rates.

Tight money markets typically keep the dollar supported, and we will be watching to see if this difficulty in obtaining dollar funding spreads internationally. This would be very negative for the EUR/USD pair if it were to occur, but there are no indications of this yet.

Trading Advice:

The EUR/USD downtrend will continue for some time, and a true upward reversal will not occur without a return of investor confidence and the end of the US government shutdown.

Financial markets remain less confident that the Federal Reserve will cut US interest rates again at the December meeting, with traders estimating the probability of an additional cut at slightly less than 70%. The US government shutdown will also become increasingly significant for markets as its economic impact continues to worsen. The Federal Reserve will be concerned about the negative impact on the US economy but will also be aware of the high degree of uncertainty.

According to experts, the longer the US government shutdown lasts, the greater the negative impact on the US economy in the short term. However, Federal Reserve Chairman Jerome Powell indicated that the Fed would be more inclined to keep interest rates unchanged in December if the lack of clarity regarding the performance of the US economy persists. Overall, significant underlying concerns remain surrounding potential changes at the Federal Reserve, particularly with a new chairman taking office next year.

Over the weekend, Treasury Secretary Bisset criticized the US Central Bank, stating that its track record in predicting inflation was very poor. He added, “We will find a leader who will implement radical reforms across the entire institution in terms of procedures and internal operations.”

Ready to trade our Forex daily forecast? We’ve shortlisted the top forex brokers in the industry for you.