GBP/JPY & EUR/JPY Key Trading Levels – Leading Indicators Fail to Surprise
Arslan Butt • 1 min read
The Japanese currency pairs are on the move as investors raised the demand for safe-haven currencies. The BOJ’s Deputy Governor nominee Masayoshi Amamiya, at the confirmation hearing in Parliament’s lower house, supported the Japanese Yen. He remarked that the economy is proceeding with a path towards a 2% inflation target.
Moreover, the advantages of easing policy are exceeding costs. A drop in oil prices have had a big impact on Japan’s economy and sales tax hikes are reasons why inflation is not at 2%.
Japan’s leading Indicator fell to 104.8% vs. the 106.5% expectation and 107.4% figure beforehand. Seems like a good chance to grab few PIPs – let me share key trading levels for Japanese crosses.
EUR/JPY – Major Trading Levels
Key Trading Level: 130.67
GBP/JPY – Major Trading Levels
Key Trading Level: 147.02