|Day's range||144.56 - 145.624|
|52-week range||139.446 - 156.087|
With the 109.55-50 support-region activating USDJPY’s U-turn, the pair seems eager enough to confront the support-turned-resistance line of 110.35 for one more time. If comparative USD strength clears the 110.35 barrier, the 110.80-85 horizontal-region and the 111.40 resistances should be watched closely as break of which could open the door for the pair’s rally towards 111.80 and 61.8% FE level of 112.30. On the contrary, pair’s failure to surpass the 110.35 TL can portray Breakout-Pullback-Continuation (BPC) formation, which in-turn highlight the 109.80 and the 109. ...
The British pound fell significantly against the Japanese yen on Tuesday, as we have broken cleanly below the ¥145 level. That is a very negative turn of events, signifying that perhaps we are ready to go much lower. Ultimately, this will have been in reaction to the increased tariffs between the Chinese and the Americans.
China-related markets were taking some heat on Tuesday as a fresh chapter in the trade war with the U.S. threatened to blow up. Here are five charts showing how dramatic a day it has been for global markets.
During the session on Monday, traders came back to a lot of fear, dropping right away during the Asian session, before bouncing only to turn around and sell off as the Europeans took over again.
Haven currencies, including the Japanese yen and Swiss franc, inched higher in muted trading Monday, as the trade row between the U.S. and China remained in focus. Trade tensions have been on the rise, with China vowing to retaliate against a U.S. round of tariffs by slapping duties on American export products, including crude oil, and suspending all previous trade agreements with President Donald Trump’s administration. Uncertainty over future relations between the two trade giants saw investors drop risky emerging-market currencies and go for safer ones.
The British pound went back and forth during the week, reaching towards the ¥147 level before pulling back. We have formed a bit of a neutral candle, and I think a lot of traders are concerned about potential trade wars between the United States and China. With the Americans adding more tariffs and the Chinese promising to retaliate, it’s very likely that this pair continues to be very noisy.
The British pound has gone back and forth during the trading session on Friday, as we continue to see a lot of noise. The market is very risk sensitive, and as we see tariffs levied on China by the United States, and almost certainly a retaliatory move from the Chinese, it makes sense that there is a lot of concern in the financial markets.
With two-month long downward slanting trend-line restricting the GBPJPY’s upside, the pair continues to signal the 146.20 support re-test unless clearing the 147.75 TL barrier. Meanwhile, pair’s successful break above 147.75 trend-line enables it to claim the 148.10 and the 148.70 resistances but the 200-day SMA level of 149.80, adjacent to 150.00 psychological-magnet, could disappoint the Bulls.
Trade war fears allow the haven Japanese yen to defend modest gains against the dollar, even as the Bank of Japan cements its place as the most dovish of the world’s major central banks.
The British pound initially tried to rally during the day on Thursday but pulled back a little bit to test the ¥147.25 level. That is the short term support level that has been effective over the last several days, as we try to build up enough momentum to break out to the upside and continue to go higher.
The British pound fell slightly during the trading session on Wednesday in anticipation of the FOMC meeting and the ECB meeting on Thursday. I believe that the market will continue to pay attention to risk appetite overall, and now that we have gotten through the summit between the Americans and the North Koreans, there is a collective sigh of relief.
The British pound initially rallied during the trading session on Tuesday but found enough resistance near the ¥148 level to turn around and fall towards the ¥147 level. The market continues to press higher, and the question now is whether or not we have formed a bit of a “double top?”
The British pound rallied significantly during the trading session on Monday but turned around as we got a bit of disappointment in the form of economic numbers out of the United Kingdom. The ¥148 level has offered resistance again, but as we are now stabilizing, it looks like the buyers may be coming back.
Britain’s statistics continue to indicate a slowdown in the UK economy. Today’s data showed a decline in industrial production by 0.8% during April against a forecast growth of 0.1%.
The GBP/JPY, so popular “Dragon” has been making obvious trend line breaks above the ascending trend line. This signifies both retracement-continuation pattern in uptrend (a for of zig-zag pattern). 147.05-40 is the POC zone and we could see another rejection should the price retrace again. A strong 1h momentum candle or 4h close above 148.11 should target 149.15. Have in mind that 149.15 is a weekly target and the final weekly resistance. If the price gets there before the end of the week, we might see even stronger uptrend.
The British pound rallied initially against the Japanese yen during the week but turned around to form a shooting star. The shooting star of course is a negative sign, but it is preceded by a massive hammer at the ¥145 level. Ultimately, this is a very supportive level and I think that the markets will continue to be one that we should pay attention to.
The British pound fell against the Japanese yen during the day on Friday, testing support near the ¥146 level. There is a significant cluster of noise in this area, and I think it will continue to be a bit supportive. When I look at the longer-term charts, we have conflicting views, and I think that it’s only a matter of time before we need to make some type of impulsive move to follow.
The British pound initially tried to rally during the day on Thursday, but then pulled back rather rapidly as they were shocked by the statement that the United Kingdom was going to leave the custom union when it leaves the EU. Because of that, it’s likely that we will continue to see a lot of noise, but we have recovered most of the losses since that announcement.
The British pound rallied a bit during the trading session on Wednesday, reaching towards the ¥148 level. Short-term pullbacks should offer buying opportunities, as the 50 SMA has been both support and resistance on the hourly chart.
GBPUSD’s recovery from 1.3200 is presently being challenged by the resistance-line of an upward slanting trend-channel, at 1.3430, which in-turn signal brighter chances for the pair’s pullback to 1.3395. If prices decline below 1.3395, the resistance-turned-support line near 1.3350 may trigger the pair’s U-turn, failing to which can recall the 1.3300 mark, comprising channel-support. Given the sellers’ refrain to respect the 1.3300 support, the 1.3240 and the 1.3200 can come-back on the chart. Alternatively, successful clearance of 1. ...
AUDUSD made a beautiful price action movement as it broke the horizontal resistance and then tested that as a support and drew a hammer candlestick. No surprise, that after this, the price surged. Now, we are below the long-term down trendline and we are waiting for, either a breakout or a bounce.
The British pound rallied a bit during the trading session on Tuesday, as we continue to grind higher. I think that the 147 level is going to be difficult to overcome in the short term, but I do think it happens eventually. Once it does, I think the market will continue to grind towards the ¥150 level.
Everything is happening in a flag pattern. Cable is locked inside the flag and between the horizontal resistance on the 1.34 and the horizontal support on the 1.33. Here, we do have a double bottom formation along with the flag pattern.
The British pound rallied a bit during the trading session on Monday but gave back much of the gains. We are trying to break out of resistance, so I think that the market will eventually take out to the upside, perhaps reaching towards the ¥150 level if we can build up the necessary momentum.
The British pound fell initially during the week but found significant support at the vital ¥145 level. While we have broken below and uptrend line as of late, this could signal a return to buying pressure. If that’s the case, we could be looking at consolidation going forward. Otherwise, a break down below the hammer of course is a very negative sign.