Trading spotlight

Keep GBPJPY in sight

What happened earlier

The GBPJPY pair is trading around 149.743, experiencing pressure downwards. Traders are weighing signs of how the U.K.'s lockdown-easing steps would affect the economic recovery. The reaction of the U.K. consumer to fewer constraints over its consumption patterns will be a crucial driver over the next quarter. Nevertheless, the Bank of Japan said that a weak yen is supportive for their manufactures and would stay close to that position.

What the picture is now

The Bollinger Bands are narrowing, meaning that we should see a reduction in volatility. The RSI, which is under 50, and the Stochastic both indicate that the downwards movement may prevail.

What the possible outcomes are

• In the most likely scenario, the GBPJPY pair may challenge the first support level of 149.473.
• If the pair falls below the first support level, we can expect a further decline to the second support level of 148.655.
• Conversely, it's possible to see the pair fail to break the first support level and rebound towards the first resistance level of 150.982.
• If the pair breaks the first resistance level in our least likely scenario, we can expect to see a rise towards the second resistance level of 152.050.

Trade GBPJPY

Stay aware of the BTCUSD movement

What happened earlier

The BTCUSD pair traded in a price range of 61,202.12 and 64,894.97, showing high volatility amid positive news within the cryptocurrency market. Coinbase placed shares on the stock market through a direct listing procedure, which should increase the trust in cryptocurrencies among the general public. The admission of Coinbase to the" top league " means the recognition of the cryptocurrency market as a significant part of the global economy. On 14 April, the U.S. Senate confirmed Gary Gensler's candidacy for the U.S. Securities and Exchange Commission (SEC). Previously, he headed the Commodity Futures Trading Commission (CFTC) and began his career at Goldman Sachs Group Inc. Most likely, thanks to his work, bitcoin's status in the eyes of the administrative and legislative apparatus of the United States will significantly increase, which may lead to the appearance of the first bitcoin ETF in the United States.

What the picture is now

The Bollinger Bands are predicting increased volatility as they begin to diverge. The RSI, which is under 50, and the Stochastic both indicate that the downwards movement may prevail.

What the possible outcomes are

• In our most likely scenario, the BTCUSD pair may experience a downwards correction towards the first support level of 61,202.12.
• If the pair falls below the first support level, we can expect a continued downtrend towards the second support level of 59,399.53.
• Contrarily, the pair may initially rise towards the first resistance level of 64,894.97.
• If the pair manages to surpass the first resistance level, we should expect a continued surge towards the second resistance level of 67,222.35.

Trade BTCUSD

Please note! This is not a direct instruction on which order to open. When applying this information, you remain solely responsible for the decision you make and financial risks you take.