Trade Ideas & Trading Levels – Japanese Crosses in Focus

I'm seeing good potential in the Japanese pairs, specifically EUR/JPY and GBP/JPY. Both of these pairs are trendy and as we know the trend


I'm seeing good potential in the Japanese pairs, specifically EUR/JPY and GBP/JPY. Both of these pairs are trendy and as we know the trend is our friend. Let's take a look at major trading levels to position ourselves in a running trend.  

 

EUR/JPY – Trading Levels

Support            Resistance

S1: 130.93            R1: 131.50

S2: 130.76            R2: 131.67

S3: 130.48           R3: 131.96

Key Trading Level – $131.22

 

EURJPY Trade Plan

Currently, I'm looking at the area below $131.650 to sell with a target of $130.850.

 

GBP/JPY – Trading Levels

Support            Resistance

S1: 141.76             R1: 142.72

S2: 141.46            R2: 143.02    

S3: 140.98            R3: 143.50

Key Trading Level – $142.24

 

GBPJPY Trade Plan

The idea is to sell GBP/JPY right now at $142.750 with a target of $141.550 and a stop loss of $143.250. Good luck!

 
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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