OctaFX | OctaFX Forex Broker
Open trading account

Forex: GBP/JPY falls below support to 150.84/86

FXstreet.com (Barcelona) - The GBP/JPY was under siege Tuesday, culminating in a bottoming out at the 150.38 level (daily minimum) in recent minutes. A surrendering of the 151.00 barrier/support has been met with instability as the pair trades at 150.84/86 in these moments, incurring a loss of -0.59% off its opening.

Following a breach of the 151.00 support, Mataf.net analysts calculate the means of supportive correction at 150.28, ahead of 149.66. Conversely, a break above 152.34 will initiate resistive measures at 152.96 and 153.68.

“The GBP/JPY has formed a minor double top pattern over an hourly basis, and is currently attempting to break the ascending trend line for the latest bullish wave. A break below the trend line could negate the short-term bullish bias, and confirms a sideways price action, for a possible retest of 148.00 level.” warns the ICN.com analyst team.

Forex: EUR/JPY rebounds on surprising France PMI services

The EUR/JPY is being pressured on the day by a new Yen corrective movement after the rally up to 130.67 high on investor cheering for G20/IMF approval of BoJ policy decisions. The cross reached as low as 128.54 today, but better than expected Markit PMI data in France triggered a EUR rally, with the market climbing to 129.16 already.
Read more Previous

Forex: EUR/GBP jumps to 0.8568 high on Markit PMI data

The market is rising higher ahead of the European opening as the French PMI services figure came in higher for the preliminary release of April data, up from 41.3 to 44.1 and above 42.0 consensus. The manufacturing figure rose from 44.0 to 44.4, above 44.3 consensus. Next in line in Germany and EMU data. The EUR/GBP moved from its opening price at 0.8544 to 0.8568 high, where it is stalling at the moment.
Read more Next
Start livechat