22/07/2026 Evening Reports
🔹 EUR/USD remains in a tight consolidation around 1.1420 as traders await today’s ECB policy decision and President Lagarde’s press conference.
📉 Technically, the pair is trading below its key moving averages, while the RSI near 44 signals that bearish momentum remains intact. 1.1400 is the key support, with the 1.1440 zone acting as the first resistance.
🌍 Markets expect the ECB to keep rates unchanged, with the focus shifting to guidance on September. A hawkish tone could lift EUR/USD above resistance, while dovish comments, combined with elevated US yields and safe-haven demand for the dollar, may trigger fresh downside pressure.
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🔹 GBP/USD is trading around 1.3380, remaining in a consolidation phase as markets await fresh catalysts from today’s ECB decision and US PMI data.
📉 Technically, the pair is trading below the 5-day SMA but remains above the 21- and 50-day SMAs, while the RSI near 50 signals neutral momentum. 1.3350 is the first support, with 1.3400–1.3420 acting as the initial resistance zone.
🌍 Expectations for further BoE tightening continue to support Sterling, but elevated US Treasury yields and safe-haven demand for the US Dollar are limiting upside. Today’s ECB meeting and US economic data are likely to set the pair’s near-term direction.
🔹 USD/JPY remains in a strong uptrend, holding above 163.00 as the wide US-Japan interest rate differential continues to support the pair.
📈 Technically, the pair is trading above all key moving averages, while the RSI near 66 confirms strong bullish momentum, although it is approaching overbought territory. 162.80 is the first support, with 164.70–165.00 remaining the next upside targets.
🌍 Elevated US Treasury yields and the Fed’s hawkish stance continue to weigh on the yen, while the BoJ’s accommodative policy supports further upside. Today’s ECB decision and US PMI data could influence short-term USD direction, but the US-Japan yield gap remains the key driver
