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Forex Trading, Market News & Technical Analysis

Today’s Trading Edge: GBP/JPY slides as risk aversion occurs ahead of busy interest rate decision week

Posted by WorldWideMarkets . on Jun 12, 2017 7:10:42 PM

The British pound against the Japanese yen has sold off strongly since the May 10th, 140.09 high.  Today’s 1.0% decline stemmed from safe haven flows that stemmed from Friday’s sell off in US stocks.  Last week, we saw sterling sell off following Prime Minister May’s political gamble failed, leading to a hung Parliament. 

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Topics: GBP/USD, GBPJPY

Today’s Trading Edge: GBP/JPY bullish stance could see a major leg higher if the 140 handle holds

Posted by WorldWideMarkets . on Apr 30, 2017 8:20:51 PM

The British pound against the Japanese yen has rallied strongly for the past two weeks.  Last week, we saw sterling tentatively give up some of the recent gains following disappointing first quarter GDP data.  The advanced quarterly and annually both missed expectations by one tenth of a percentage point.  The Quarter on quarter reading came in at 0.3% and year over year printed at 2.1%. 

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Topics: GBPJPY, $GBP

Japanese Yen Gains on Risk Aversion; EURJPY Fell to 113.00. US Dollar Firm

Posted by Chris Advincula on Feb 22, 2017 7:00:02 AM

 

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Topics: $USDJPY, US Dollar, Europe, Forex, Japanese Yen, GBPJPY, EURJPY

Technical Analysis: GBP/JPY Resistance at 144.75 (Fibonacci 36.20%)

Posted by Chris Advincula on Feb 13, 2017 4:44:25 AM

(Feb 13 Monday) The GBPJPY daily chart shows a good rebound of the pound which rose 2,595 pips to the high of 148.45 (Dec 15) from the chart low of 122.50 (Oct 5).  At the start of the year, the pound still shows considerable weakness and fell to the Fibonacci 136.45 (23.60%) support on Jan 16. The ensuing rebound fails to cross the 145.00 - 144.74 (Fibo 38.20%) resistance line. The pattern formation is typical for a consolidation run at these Fibo levels of 145 and 136.45, presumably for the next few days. 

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Topics: Sterling Pound, technical analysis, Forex, Japanese Yen, GBPJPY

Technical Analysis: GBPJPY Key Resistance at 142.50

Posted by Chris Advincula on Nov 29, 2016 6:47:53 AM

(Nov 29 Tuesday) The daily chart shows a key resistance level for sterling-yen at 142.50 which is a noted high from July 18. This level appears to be toppish as this month draws to a close. The immediate resistance line is 141..75 (Nov 24 high) as shown on the 15 minute chart below.

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Topics: technical anlaysis, European Session, Forex, GBPJPY

 

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