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
Wall Street
Bearish
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
  • The S&P 500 finds temporary support in the 100-day moving average, with the index down over 2.2% on the day $SPX $SPY $ES https://t.co/LYcRAINMPK
  • A rough start to the week with the cryptocurrency market a sea of red with losses on either side of -10% a common sight. Get your $btc market update from @nickcawley1 here:https://t.co/AUfuM9KIX6 https://t.co/rQd27X1QxY
  • RT @BrendanFaganFx: 77 counterparties take $1.224 trillion at Fed's fixed-rate reverse repo $USD $DXY https://t.co/rH8dZtdbS9
  • Federal Reserve reports reverse repo facility usages of a record $1.224 tln among 77 counterpartiess
  • US Vice President Kamala Harris is expected to meet with UK Prime Minister Boris Johnson on Tuesday
  • Global 10-Year Government Bond Yields: US - 1.1296 (-6.6bps) UK - 0.792 (-5.2) CA - 1.212 (-6.8) GE - 0.322 (-4.0) FR - 0.02 (-3.6) JP - 0.05 (+1.0) AU - 1.250 (-8.0) CN - 2.893 (-0.0)
  • The South African rand has continued its depreciation against the U.S. dollar this week after the Evergrande default probability remains. Get your $USDZAR market update from @WVenketas here:https://t.co/24dVHrkMDG https://t.co/aNNU5qnha6
  • What is more concerning than just US equities down or global equities being down is that 'risk' across the board is under serious pressure. The more intense and persistent this trend, the greater the risk it turns self-sustaining https://t.co/KPblFpeaqf
  • It's rare event where the buy-and-hold, long volatility crowd do a victory lap and say their formal 'I knew it'. The $VXX short-term volatility ETF is up sharply on heavy volume. One of my 'early warning' signals https://t.co/5XqfJJTqR3
  • Coinbase will drop its plans to launch its crypto lending program that was under regulatory scrutiny
GBP/JPY Technical Analysis: Prices Slump Back Sub-178.00

GBP/JPY Technical Analysis: Prices Slump Back Sub-178.00

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: 177.43, 175.67, 174.26
  • Resistance: 178.51, 180.36, 181.78

The British Pound faltered above the 180.00 figure after launching a rebound as expected against the Japanese Yen. Near-term support is at 177.43, the 23.6%Fibonacci expansion, with a break below that on a daily closing basis exposing the 38.2% level at 175.67. Alternatively a turn above the 14.6% Fib expansion at 178.51opens the door for a test of the 38.2% Fib retracement at 180.36.

Prices are wedged too closely between near-term support and resistance levels to justify taking a trade on a long or short side from a risk/reward perspective. With that in mind, we will continue to stand aside until a more attractive opportunity presents itself.

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

GBP/JPY Technical Analysis: Prices Slump Back Sub-178.00

Daily Chart - Created Using FXCM Marketscope

--- 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