EUR/JPY expected to hold around 119.40 – Commerzbank

Pablo Piovano FXStreet

The correction lower in EUR/JPY is seen holding on to the 119.40 area, noted Karen Jones, Head of FICC Technical Analysis at Commerzbank.

Key Quotes

“EUR/JPY continues to sell off from its four month resistance line at 122.72 and also the 2015-2017 downtrend. The market has eroded 120.02 March 8 low and this leaves the 5 month uptrend at 119.44 exposed, which in turn guards the 118.25 24th February low and the 116.92 2016 to 2017 uptrend. Please note that the intraday Elliott wave counts suggest that the 119.44 support line will hold”.

“Above the 4 month downtrend lies another downtrend at 123.88 and the 124.08 December high”.

1. R3 121.90
2. R2 121.39
3. R1 120.71
PP 120.20
1. S1 119.52
2. S2 119.01
3. S3 118.33

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

USD/JPY eases toward 160.00, awaits BoJ decision

USD/JPY is easing toward 160.00 in Tuesday's Asian trading. The Japanese Yen is finding fresh demand amid the expected Bank of Japan (BoJ) interest rate hike to 1%, following the conclusion of its two-day monetary policy review meeting later in the session.

AUD/USD turns south toward 0.7050, with all eyes on RBA verdict

AUID/USD has come under renewed selling pressure and nears 0.7050 in Asia on Tuesday. Traders prefer to stay on the sidelines ahead of the Reserve Bank of Australia (RBA) monetary policy decision before placing fresh bets. Meanwhile, the mixed Chinese activity data failed to inspire the Aussie bulls amid fading US-Iran deal optimism.

$4,400: Gold sellers set to retain control whilst below this level; focus shifts to Fed

Gold holds a pullback from six-day highs of $4,369 as buyers take a breather early Tuesday. The US Dollar looks to fill Monday’s bearish opening gap as markets temper Iran deal optimism. Technically, Gold remains exposed to downside risks whilst below the 21-day SMA near $4,400.

Forward Industries proposes all-stock acquisitions of Solana treasuries HSDT and SkyAI

Forward Industries (FWDI), the largest Solana treasury company, has proposed acquiring two smaller Solana-focused public companies in separate all-stock transactions. The firm stated that it sent letters of intent to acquire Solana Company and SkyAI.

RBA set for first interest-rate pause of 2026 as bets of further hikes weaken

The Reserve Bank of Australia is widely expected to leave the Official Cash Rate unchanged at 4.35% when it announces its monetary policy decision on Tuesday, marking a pause after three consecutive rate hikes delivered earlier this year. The decision will be announced at 04:30 GMT, accompanied by the Monetary Policy Statement.

4.2% headline, 0.2% core: Why the Fed's next hike may be targeting the wrong problem

May's CPI put headline inflation at 4.2% on the year, up from 3.8% in April and the hottest reading since April 2023, while core prices rose just 0.2% on the month, undershooting the 0.3% consensus and halving April's pace.