Euro extends gains pressuring the Yen
A major reversal in the EUR/JPY is in play.
Share this:
The Japanese Yen is under heavy selling pressure against all its major pairs in the New York trading session. The Euro is gaining the most ground against the Yen as the Euro extends its rally against all the majors.
Looking at the technical's, on a weekly chart, the EUR/JPY broke above a declining trend channel in place since Jan 2018. If the pair can break above 124.50 resistance we could see the start of a new long term uptrend.
Source: GAIN Capital, TradingView
Here is a mid-day snapshot of the majors.
EUR/USD rose 53 pips to 1.158
GBP/USD is flat. The day's range is 1.2644 - 1.2741
USD/JPY gained 39 pips to 107.19
USD/CHF declined 39 pips to 0.9293
AUD/USD rose 19 pips to 0.7147
USD/CAD fell 54 pips to 1.3405Happy trading.
The Japanese Yen is under heavy selling pressure against all its major pairs in the New York trading session. The Euro is gaining the most ground against the Yen as the Euro extends its rally against all the majors.
Looking at the technical's, on a weekly chart, the EUR/JPY broke above a declining trend channel in place since Jan 2018. If the pair can break above 124.50 resistance we could see the start of a new long term uptrend.
Source: GAIN Capital, TradingView
Here is a mid-day snapshot of the majors.
EUR/USD rose 53 pips to 1.158
GBP/USD is flat. The day's range is 1.2644 - 1.2741
USD/JPY gained 39 pips to 107.19
USD/CHF declined 39 pips to 0.9293
AUD/USD rose 19 pips to 0.7147
USD/CAD fell 54 pips to 1.3405Happy trading.
Latest market news
The complete CFD trading experience
Award-winning platforms, competitive spreads, low commissions and dedicated support.
We live and breathe the markets and are dedicated to helping traders realise their ambitions as we continue to set the industry bar.
Economic calendar
Web Trader platform
Our sophisticated web-based platform is packed with features.
Related articles
USDJPY Forecast Intervention Fears Clash with Dollar Strength
Recent trading sessions have produced mixed results for the Japanese yen. By the end of last week, USD/JPY had fallen by more than 1.00%, reflecting a modest recovery in the yen. However, the start of this week has seen the pair move slightly back in favor of the U.S. dollar, posting gains of around 0.04%.
AUD/USD forecast: Currency Pair of the Week | September 28, 2026
The week has started with stocks, gold, silver and bitcoin all falling, as crude oil rebounded and bond yields pushed further higher. Trump refusing to agree to Tehran’s proposal to re-open the Strait of Hormuz has left the markets disappointed. Still, reports that mediators are expected to hold talks with the two sides on an amended version of the 7-day proposal that Iran presented, keeps hopes alive that we may see some progress.
EUR/USD weekly outlook: Oil, inflation and NFP in focus
After coming under significant pressure in recent weeks, the EUR/USD came off its lows to finish the week on a positive note on Friday, albeit with only a mild rebound. That was not enough to prevent the exchange rate falling for the third consecutive week, as the US dollar and bond yields rallied across the board.
StoneX Europe Ltd may make third party material available on this website which may contain information included but not limited to the conditions of financial markets. The material is for information purposes only and does not contain, and should not be construed as containing, investment advice and/or investment recommendation and/or an investment research and/or an offer of or solicitation for any transactions in financial instruments; any decision to enter into a specific transaction shall be made by the client following an assessment by him/her of their situation.
StoneX Europe Ltd makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. We are not under any obligation to update any such material. Any opinion made may be personal to the author and may not reflect the opinion of StoneX Europe Ltd.