News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
Oil - US Crude
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • 🇰🇷 GDP Growth Rate QoQ Adv (Q2) Actual: 0.7% Expected: 0.7% Previous: 1.7% https://www.dailyfx.com/economic-calendar#2021-07-26
  • 🇰🇷 GDP Growth Rate YoY Adv (Q2) Actual: 5.9% Expected: 6% Previous: 1.9% https://www.dailyfx.com/economic-calendar#2021-07-26
  • 🇰🇷 GDP Growth Rate QoQ Adv (Q2) Actual: 0.7% Expected: 0.7% Previous: 1.7% https://www.dailyfx.com/economic-calendar#2021-07-26
  • Heads Up:🇰🇷 GDP Growth Rate QoQ Adv (Q2) due at 23:00 GMT (15min) Expected: 0.7% Previous: 1.7% https://www.dailyfx.com/economic-calendar#2021-07-26
  • Heads Up:🇰🇷 GDP Growth Rate YoY Adv (Q2) due at 23:00 GMT (15min) Expected: 6% Previous: 1.9% https://www.dailyfx.com/economic-calendar#2021-07-26
  • (Weekly Technical) Australian Dollar Outlook Still Biased Lower: AUD/USD, AUD/JPY, AUD/NZD, AUD/CAD #AUD $AUDUSD $AUDJPY $AUDNZD $AUDCAD https://www.dailyfx.com/forex/technical/article/fx_technical_weekly/2021/07/25/Australian-Dollar-Outlook-Still-Biased-Lower-AUDUSD-AUDJPY-AUDNZD-AUDCAD.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/FlpHFIrQFp
  • Technical analysis of charts aims to identify patterns and market trends by utilizing differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here: https://t.co/KDjIjLdTSk https://t.co/XcuZbWNuie
  • The Mexican peso starts the week with a neutral bias despite broad-based U.S. dollar weakness reflected in the DXY Index. Get your market update from @DColmanFX here:https://t.co/pOu7SbQuKi https://t.co/Cmg92SZy5E
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.54% 🇨🇭CHF: 0.42% 🇳🇿NZD: 0.34% 🇦🇺AUD: 0.20% 🇯🇵JPY: 0.15% 🇨🇦CAD: 0.15% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/M3bqkD3vWQ
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.28% Silver: 0.10% Gold: -0.21% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/YQB5eGCIgP
Forex: GBP/JPY Technical Analysis – Treading Water Above 164.00

Forex: GBP/JPY Technical Analysis – Treading Water Above 164.00

Ilya Spivak, Head Strategist, APAC

To receive Ilya's analysis directly via email, please SIGN UP HERE

Talking Points:

  • GBP/JPY Technical Strategy: Flat
  • Support: 163.87 (Feb 4 low)
  • Resistance: 166.17 (23.6% Fib ret.), 167.24-60 (channel bottom, 38.2% Fib ret.)

The British Pound edged higher against the Japanese Yen to test resistance at 166.17, the 23.6% Fibonacci retracement. A break above this barrier on a daily closing basis targets the 167.24.60 region (marked by the underside of a previously broken falling channel and the 38.2% Fib). Near-term support is at 163.87, the February 4 low.

Entering long here remains unattractive from a risk/reward perspective as prices hover within a hair of near-term resistance. Alternatively, taking a trade on the short side appears to be premature without a clear-cut bearish reversal signal. We will remain in wait-and-see mode for now until something more tangible presents itself.

Confirm your chart-based trade setups with the Technical Analyzer. New to FX? Start Here!

dailyclassics_gbp-jpy_body_Picture_12.png, Forex: GBP/JPY Technical Analysis – Treading Water Above 164.00

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES