In the past couple of weeks, the ongoing tensions between China and the USA have been keeping the safe haven assets in demand. Recently, the Syrian issue put Gold and Japanese Yen on fire. However, the situation seems to have calmed down.

Trump eased the geopolitical tensions in the Middle East after affirming that military action against Syria may not be imminent thereby denting the demand for safe haven assets in the Asian session. Trump added that the US is going to resolve trade disputes. The US and China might not impose any new tariffs on each other after all.

The EUR/JPY and GBP/JPY are on a bullish move now. Let’s take a look at the key support and resistance areas.

EUR/JPY – Major Trading Levels

Support     Resistance

131.91       132.48

131.57       132.71

131.34       133.05

Key Trading Level:    132.14

GBP/JPY – Major Trading Levels

Support     Resistance

151.62       153.36

150.53       154.01

149.88       155.1

Key Trading Level:    152.27