EUR/JPY Price Forecast: Tests 180.00 support near nine-day EMA
EUR/JPY extends its losses for the second successive day, trading around 180.10 during Asian hours on Wednesday. Technical analysis of the daily chart shows the currency cross remaining within a descending channel, suggesting a persistent bearish bias.
Silver price (XAG/USD) declined to near $66.50 per troy ounce during Asian hours on Wednesday as the Federal Reserve's hawkish outlook influenced the market. The US central bank recently increased its benchmark interest rate target by 25 basis points to the 3.75%-4.00% range, signaling further hikes before the end of the year. The probability of a December rate hike stands at nearly 89.2% according to the CME FedWatch Tool.
Meanwhile, oil prices stabilized after five days of losses, potentially easing inflation concerns. Geopolitical factors, including US-Iran indirect talks and President Trump's reported positive meeting with Iranian envoys, also impacted the market sentiment. Silver, a precious metal often used as a store of value, may gain popularity as an investment option for portfolio diversification during high-inflation periods.
Written by urgent.news from FXStreet's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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