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
EUR/USD
Mixed
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
Oil - US Crude
Bearish
Wall Street
Bullish
Gold
Bearish
GBP/USD
Mixed
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
USD/JPY
Bullish
More View more
Real Time News
  • Heads Up:🇯🇵 Foreign Bond Investment (19/JUN) due at 23:50 GMT (15min) Previous: ¥410.6B https://www.dailyfx.com/economic-calendar#2021-06-23
  • 8 out of 11 S&P 500 sectors ended lower, with 60.2% of the index’s constituents closing in the red. Utilities (-1.05%), materials (-0.62%) and consumer staples (-0.57%) were among the worst performers, whereas consumer discretionary (+0.63%) and financials (+0.27%) outperformed. https://t.co/do1bTGvCfE
  • Biden Adviser Ricchetti says meeting on infrastructure was very good - BBG
  • Natural gas prices have recaptured a key trendline after a major heatwave sent energy demand in the United States soaring. Get your market update from @FxWestwater here:https://t.co/7DdcMrObKp https://t.co/5uaPeMRnFT
  • The Euro may be at risk as retail traders are increasing their long exposure in EUR/USD and EUR/GBP. What is the road ahead and what are key technical levels to watch out for?https://t.co/6GORE5o9Ch https://t.co/gYX2l9yqeD
  • Today's article and webinar recording for those who missed it - https://www.dailyfx.com/forex/market_alert/2021/06/23/Nasdaq-100-Outpaces-Dow-Jones-as-Reflation-Trade-is-Put-on-Pause.html?ref-author=phanks&QPID=917701&CHID=9
  • U.S. stocks rallied on Tuesday with the NASDAQ composite closing at an all time high as investors shifted into technology and other growth stocks. Get your market update from @WVenketas here:https://t.co/r1UXIkHlLo https://t.co/AhuUp0gSfM
  • Fed's Rosengren: - Cryptocurrencies and money market reform both need particular attention - People are encouraged to take risks during prolonged periods of extremely low interest rates
  • 🇰🇷 Consumer Confidence (JUN) Actual: 110.3 Previous: 105.2 https://www.dailyfx.com/economic-calendar#2021-06-23
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.32% 🇦🇺AUD: 0.30% 🇬🇧GBP: 0.11% 🇨🇭CHF: -0.00% 🇪🇺EUR: -0.13% 🇯🇵JPY: -0.25% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/UsCf9GyMQF
GBP/JPY Technical Analysis – Pound Rises to 3-Week High

GBP/JPY Technical Analysis – Pound Rises to 3-Week High

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: 171.79 (23.6% Fib exp.), 169.92 (horizontal support shelf)
  • Resistance: 172.82-173.19 (triple top, 38.2% Fib exp.), 174.32 (50% Fib exp.)

The British Pound advanced to a three-week high against the Japanese Yen, with chart positioning hinting at continued gains ahead. Near-term resistance lines up in the 172.82-173.19 area, marked by a triple top and the 38.2%Fibonacci expansion. A break above that exposes the 50% level at 174.32. Support is in the 171.36-79 zone, bracketed by the 23.6% Fib and a falling trend line set from early May. A turn below that aims for 169.92, a horizontal barrier in play since mid-April.

The decision to book profit on the remainder of our short trade appears to be proving prescient. Overall positioning leaves the door open for a larger downward reversal in the works however and we will tactically opt not to pursue a long position for now.

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

GBP/JPY Technical Analysis – Pound Rises to 3-Week High

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