OctaFX | OctaFX Forex Broker
Open trading account

GBP/JPY cracks 153.60, support at 1.5180 now in focus

FXstreet.com (Barcelona) - The Sterling/Yen is edging lower in Asia trade, down another 20 pips at 152.75 as the pair eyes a test of last week’s lows down at 151.77.

From a technical perspective, the bullish set up on the daily chart is starting to break down more and more over the past four trading sessions. To start, price is now below both the 9 and 20dma’s which could help to limit advances in the coming session. Additionally, the 9dma is nearing a bearish cross over beneath the 20dma, which is another sign selling pressure is starting to pick up. On a final note, it will be important to keep an eye on the RSI (14) as it continues to declines towards the 40 level (note this is the bottom end of the 40-80 bullish zone, and has not been breached since the end of February.

The FXStreet.com Trend Index remains slightly bearish on the daily chart, while the OB/OS index reads neutral. First support sits at 151.77 (low from last week), followed by 150.42 (the 50dma). Initial resistance sits at 153.60 (previous support, now resistance), followed by 154.3y (the 20dma).

Nikkei back to the 14k level, down -3% for the day

The Nikkei index has resumed the selling started past Thursday, down -3.11% today alone, adding for a -11% since almost touching the 16000 points mark last Thursday in early Tokyo trade, before Japanese officials started talking up the Yen. The index has printed session lows around the 14040 level, from a close Friday around the 14600 points mark.
Read more Previous

Session Recap: Nikkei resumes the sell-off; USD advances, Yen too

The USD gained marginally through the early Asia-Pacific start of the week, with EUR/USD printing session lows at 1.2914, AUD/USD to 0.9614, Cable about unchanged, and USD/CHF to session highs at 0.9634, while USD/JPY posted session lows at 100.78.
Read more Next
Start livechat