OctaFX | OctaFX Forex Broker
Open trading account

GBP/JPY: Risk of a deep setback into 157.07/156.50 - JPMorgan

FXStreet (Bali) - Thomas Anthonj, FX Strategist at JP Morgan, sees GBP/JPY facing a considerable risk of a deep setback into 157.07/156.50.

Key Quotes

"On GBP/JPY we see the greatest setback risk into the 157.07/156.50 (int. 38.2 % on 2 scales) handle. For such a setback to receive confirming evidence it would however take breaks below 172.04 and 169.95 (minor 76.4 %/weekly trend)."

"As per EUR/GBP, above 0.7907 (daily breakout line), we’d expect a stronger recovery to 0.8009 if not to 0.8150 (int. 38.2 % on 2 scales), which would have to be cleared to reverse the broader downtrend."

South Korea Import Price Growth (YoY): -8.8% (September) vs -9.9%

Read more Previous

Session Recap: Stocks, currencies or commodities may fall apart; you better You bet

1995 Van Morrison song's "Days like this" says that people should be ready to face either a bad or a good day as it could be the opposite as soon as a butterfly flies. It seems to be the market's motto these days when either stocks, currencies or commodities fall apart with no effect in others.
Read more Next
Start livechat