GBP/JPY Technical Analysis & Daily Chart

We expect the pair to keep up its bullishness today.

Technical Analysis
02 nov 2017
GBP/JPY Technical Analysis & Daily Chart

Today we would take a look at the GBP/JPY currency pair. The pair today will be influenced by the Bank of Japan’s loose monetary policy and a decision from the United Kingdom’s Bank of England on whether to increase interest rates.

Our overall expectation is that today the pair will be moving up, since the price is consistently trading above the important moving averages at 20 and 50. This is further confirmed by the RSI indicator which remains above 50, indicating that the pair will not be going down today.

Our trading logic for the GBP/JPY today is pretty straightforward. As long as the pair remains above the pivot (which we have strong indication to believe), then look at the nearby resistance levels that may be touched and overcome. These lie at 151.85, 152.30, and 152.90. In the opposite scenario, if despite all bullish expectations the pair starts to drop in price, then we should go short on the GBP/JPY with a target at 150.40, our nearest support. Below it lie the further supports at 150 and 149.55.

For now we can take a buy order with a T/P at the first resistance of 151.85. Just to be safe, place a stop-loss order right above the first support at 150.80.

SuperForex
EUR/USD Technical Analysis & Daily Chart

Technical Analysis

EUR/USD Technical Analysis & Daily Chart

SuperForex
02 nov 2017
CAD/JPY: Fundamental Review and Forecast

Technical Analysis

CAD/JPY: Fundamental Review and Forecast

The JPY has weakend due to a decision by the BoJ to leave the rate unchanged, while the CAD was supported by high oil prices and has all chances for growth.

SuperForex
01 nov 2017
USD/CHF Technical Analysis & Daily Chart

Technical Analysis

USD/CHF Technical Analysis & Daily Chart

We predict that today the USD/CHF will be bullish, based on tensions in the United States.

SuperForex
31 oct 2017