GBP/JPY & EUR/JPY – Key Support & Resistance Levels

During the Asian sessions, the Japanese Yen again further support after Japan’s Finance Minister Taro Aso directed out possible FX market invasion. The Japanese government administrators reaffirmed their faith in BOJ’s (Bank of Japan) Governor Haruhiko Kuroda, supporting hopes that he will be reappointed.

Though the Japanese Yen is getting stronger now as the safe haven demand mixed with the sentiments, but on a longer run, the reappointment of Karuda means a continuation of ultra-loose monetary policy. So, I’m trying not to stuck in any swing trade in Japanese pair. Sooner or later, the Japanese yen is likely to take a bearish reversal.  

In the meantime, let me share the intra-day trading levels for Japanese crosses. Newbies, do check FX Leaders Forex Trading Levels strategy.

EUR/JPY – Major Trading Levels

Support     Resistance

131.85         133.63

130.84        134.4

130.07        135.41

Key Trading Level:    132.62

GBP/JPY – Major Trading Levels

Support     Resistance

148.21         150.26

147.07         151.17

146.16         152.31

Key Trading Level:    149.12

ABOUT THE AUTHOR See More

Arslan Butt

Index & Commodity Analyst

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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