Technical Levels For Forex Crosses - GBPJPY & EURJPY - Forex News by FX Leaders

Technical Levels For Forex Crosses – GBPJPY & EURJPY

Posted Wednesday, November 29, 2017 by
Arslan Butt • 1 min read

So far the forex crosses have offered us good trading signals except for yesterday as our forex trading signal on GBPJPY was taken out at the stop. However, these pairs are the best substitute to deal with thin volatility especially when the investors are waiting for the US economic events.

 

Having said that, once again the market is waiting for the economic events discussed in our Nov. 29 – Morning Brief. So check out these support and resistance levels to take a better position in forex crosses.

 

EURJPY – Major Trading Levels

Support     Resistance

131.7          133.77

130.4          134.54

129.63        135.84

Key Trading Level:    132.47

 

GBPJPY – Major Trading Levels

Support      Resistance

147.71        149.45

146.8          150.28

145.97        151.19

Key Trading Level:    148.54

 

Safe Haven – Why Japnese Yen Is Getting Weaker?

The market is investing in haven assets after North Korea launched another missile test. Japanese Yen was supposed to get stronger on this news but it's getting weaker. So what's the reason?

 

Well, according to the Japanese government, the missile landed in the economic zone of Japan. Can we see the active participation of Japanese economy in this issue? Like others, I'm also curious about it. That's why the uncertainty is keeping me away from buying Japanese Yen. Keep following for more updates and have a profitable day!

 
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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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