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.

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
Oil - US Crude
Mixed
Wall Street
Bearish
Gold
Mixed
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
Mixed
More View more
Real Time News
  • Heads Up:🇮🇳 Inflation Rate YoY (APR) due at 12:00 GMT (15min) Expected: 4.2% Previous: 5.52% https://www.dailyfx.com/economic-calendar#2021-05-12
  • Heads Up:🇮🇳 Industrial Production YoY (MAR) due at 12:00 GMT (15min) Expected: 17.6% Previous: -3.6% https://www.dailyfx.com/economic-calendar#2021-05-12
  • Heads Up:🇮🇳 Manufacturing Production YoY (MAR) due at 12:00 GMT (15min) Previous: -3.7% https://www.dailyfx.com/economic-calendar#2021-05-12
  • A “PIP” – which stands for Point in Percentage - is the unit of measure used by forex traders to define the smallest change in value between two currencies. Learn how to understand pips in forex here: https://t.co/AfAhmIoVZv https://t.co/ehvshDWUCb
  • 🇺🇸 MBA Mortgage Applications (07/MAY) Actual: 2.1% Previous: -0.9% https://www.dailyfx.com/economic-calendar#2021-05-12
  • 🇲🇽 Industrial Production YoY (MAR) Actual: 1.7% Expected: 0.9% Previous: -4.5% https://www.dailyfx.com/economic-calendar#2021-05-12
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 89.70%, while traders in AUD/JPY are at opposite extremes with 65.28%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/doRLGOixPH
  • Heads Up:🇺🇸 MBA Mortgage Applications (07/MAY) due at 11:00 GMT (15min) Previous: -0.9% https://www.dailyfx.com/economic-calendar#2021-05-12
  • Heads Up:🇲🇽 Industrial Production YoY (MAR) due at 11:00 GMT (15min) Expected: 0.9% Previous: -4.5% https://www.dailyfx.com/economic-calendar#2021-05-12
  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.92% Gold: -0.15% Silver: -0.84% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/q7LR87UPBB
GBP/JPY Technical Analysis: Pound Jumps to 2-Week High

GBP/JPY Technical Analysis: Pound Jumps to 2-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: 172.85, 170.69, 169.33
  • Resistance: 174.34, 175.84, 177.70

The British Pound renewed its push higher against the Japanese Yen after a brief pullback, rising to the highest level in two weeks. A daily close above the 50% Fibonacci retracement at 174.34 exposes the 61.8% level at 175.84. Alternatively, a reversal below the 38.2% Fib at 172.85 opens the door for a test of the 170.69-99 area marked by the August 8 low and the 23.6% retracement.

We entered short GBPJPY at 171.13 yesterday and the trade has been stopped out on a daily close above 172.99. We will move to the sidelines from here, waiting for another opportunity to present itself.

Add these technical levels directly to your charts with our Support/Resistance Wizard app!

GBP/JPY Technical Analysis: Pound Jumps to 2-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