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XM Group

XM Group

Will GBPJPY rebound again?

GBPJPY breaks below key support area after new high. Technical signs weaken, but 20-day EMA comes to the rescue again.

XM Group | 273 dagar sedan

GBPJPY extended its pullback from an eight-and-a-half-year high of 191.30 for the third consecutive day on Thursday to find support around the 20-day exponential moving average (EMA) at 189.50. The line had protected the market at the end of January, though with the pair having crossed below a short-term ascending trendline, the odds for a continuation lower might be larger despite the current bullish action in the price.

The negative reversal in the momentum indicators is a sign that buying interest is fizzling out. A bounce back above the 190.20-191.14 is now required to improve sentiment and trigger an advance towards the 193.32-194.00 zone, where the broken support trendline from March 2023 and the resistance line from May 2021 are positioned. Breaking above that wall, the uptrend could stretch towards the 2015 ceiling of 195.30-195.87.

Otherwise, a step below the 20-day EMA at 189.50 could squeeze the price towards the 50-day EMA at 187.50. Additional losses from there could initially retest the 186.00 base and then the 184.00-184.50 region.

All in all, GBPJPY could experience more downside movements, unless the current recovery mode in the market drives the price successfully back above the 191.14 level.

Förordning: CySEC (Cyprus), ASIC (Australia), FSC (Belize), DFSA (UAE), FSCA (South Africa)

Taggar: Analys GBPJPY

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Gold Extends its Gain as Geopolitical Tension Heighten

Gold Extends its Gain as Geopolitical Tension Heighten

escalating tensions in Eastern Europe after Ukraine launched long-range British missiles into Russian territory, intensified demand for gold .

PU Prime | 8 dagar sedan

Gold Rally Ahead of the U.S. Election

Gold Rally Ahead of the U.S. Election

As the U.S. election draws near, safe-haven assets are gaining traction, with gold rallying back to its all-time highs and the U.S. dollar hovering close to recent peaks. Historical trends indicate that the Japanese yen tends to attract strong safe-haven demand during election years, having outperformed the dollar, Swiss franc, gold, and U.S. Treasuries in prior election cycles.

PU Prime | 31 dagar sedan

Technical Analysis – GBPJPY at 3-Month High

Technical Analysis – GBPJPY at 3-Month High

GBPJPY marks new higher high; remains restricted. Resistance near 198.50; support seen around 196.00.

XM Group | 36 dagar sedan

USDJPY, EURUSD, AUDUSD

USDJPY, EURUSD, AUDUSD

First NFP report after Fed’s rate cut; USDJPY dives sharply; Eurozone flash CPI in the spotlight with EURUSD standing below 1.1200; BoJ Summary of Opinions on Tuesday; GBPJPY slightly recoup losses

XM Group | 60 dagar sedan

Dollar Remain Strong on Upbeat CPI

Dollar Remain Strong on Upbeat CPI

The U.S. CPI readings released last night exceeded market expectations, dispelling concerns about an economic contraction and supported the dollar's strength.

PU Prime | 78 dagar sedan

Sterling Ease on BoE Rate Cut

Sterling Ease on BoE Rate Cut

The BoE's decision to cut rates by 25 basis points came in line with market consensus, leading to a decline in the Pound Sterling

PU Prime | 119 dagar sedan

GBPJPY selling drama stretches below 200-EMA

GBPJPY selling drama stretches below 200-EMA

GBPJPY’s massive sell-off continues, reaches 3-month low. Short-term risk bearish but oversold conditions detected. BoE policy announcement might influence GBP at 11:30 GMT.

XM Group | 120 dagar sedan

Dollar Plummets against Yen as BOJ Rate Hike Bets Rise

Dollar Plummets against Yen as BOJ Rate Hike Bets Rise

The US Dollar plummeted against the Japanese Yen to 155.60 from 157.37. Rising expectations of a BOJ rate hike at their policy meeting next week weighed on the Greenback.

ACY Securities | 127 dagar sedan

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