Today's Analysis of Major Forex Pairs and Precious Metals

Scalping: Scalping is a trading style that focuses on profiting from tiny price movements. In this strategy, traders look for small profits in a very short time frame, and a 3 PIP move can be a target. This type of trading requires precise execution and quick decision-making.
Day Trading: Day trading is another strategy that involves monitoring short-term price movements, where traders seek to profit from minor fluctuations. Traders may use the 3 PIP target to enter or exit positions based on short-term trends.

USD/JPY Market Movements

The USD/JPY pair has shown notable stability amidst rising market volatility, maintaining levels around 148.13. The Japanese yen has seen a modest recovery following its recent losses, influenced by weaker U.S. labor market data which has fueled speculation about a potential rate cut by the Federal Reserve. Meanwhile, political developments in Japan are causing market watchers to stay alert, with upcoming decisions possibly affecting the currency's strength.

GBP/USD and EUR/USD Dynamics

The GBP/USD pair is currently testing a critical resistance zone at 1.3430-1.3450, with potential movements expected depending on its ability to breach this barrier. Conversely, the EUR/USD pair has experienced a correction, dropping from a resistance zone and now hovering near support levels between 1.1575 and 1.1600. Both pairs exhibit significant sensitivity to political and economic news, influencing their near-term price actions.

Asian and Emerging Market Currencies

The USD/KRW pair remains steady, showing resilience above its key support levels, which might lead to further gains if it surpasses the 1406 mark. On the other hand, the USD/INR has seen an uptick, primarily driven by U.S. tariff discussions which seem to overshadow the positive sentiment from India's recent GST reforms aimed at boosting consumption.

Precious Metals: Gold and Silver

Gold prices have witnessed a pullback, with the market's focus shifting towards upcoming U.S. economic data which could influence Federal Reserve's policy decisions. Silver, after reaching a 14-year high, has seen a slight decline. Both metals continue to be supported by the broader economic uncertainties and monetary policy expectations, suggesting a potentially bullish outlook despite recent profit-taking activities.