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

Posted Thursday, February 15, 2018 by
Arslan Butt • 1 min read

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

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