OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex Flash: GBP/JPY buy on dips, target at 168.15 – Danske Bank

FXstreet.com (Barcelona) - The cross is hovering over the key mark at 150.00 on Monday, dragged lower by the renewed strength from the Japanese yen coupled with an extension of Friday’s sell-off in the sterling.

“The more recent completion of a two month triangle pattern at 144.65 has driven the latest leg higher and 152.25, the October 2009 peak, is now being breached to open the 2009 year high at 163.05 next. Just above here lies 168.15, the 38.2% retracement level of 251.10-116.85 decline”, commented the Investment Research team at Danske Bank.

The team also added that a breakdown of 140.40 and then 137.90 would neutralize the bull pressure, risking a retest of 133.50.

European markets and US futures in “risk-off” following China GDP

The German DAX 30 (-0.84%), the French CAC 40 (-1.02%), the Italian FTSE MIB (-1.00%) and the Spanish IBEX 35 (-0.87%) are affected by the poor Q1 GDP figure in China that eased from 7.9% to 7.7%, against consensus of 8.0 (QoQ data came in at 1.6% - consensus of 1.9%). Equity indexes in Europe are in “risk-off” mood and so are the American futures such as the S&P 500 (-0.59%), Nasdaq 100 (-0.48%) and Dow Jones (-0.37%).
Read more Previous

Forex Flash: Troika arrives in Portugal today - BTMU

Lee Hardman, FX analysts at the Bank of Tokyo Mitsubishi UFJ notes that Troika officials will arrive in Portugal today to assess a new round of austerity measures required to secure the next EUR 2bln tranche of financial support and to win final approval of an agreement to extend outstanding maturities by seven more years.
Read more Next
Start livechat