GBP/JPY & EUR/JPY Trading Levels – Trade War Fears again in Highlights
The market is all about trading the U.S. dollar as Federal Reserve is due to release it’s interest rate decision later today. So, what’s your plan for the European & London session? I would prefer to trade the Japanese crosses in order to avoid sudden and unnecessary echoes from FOMC and Fed fund rate.
Fellows, the Japanese crosses can get volatile as high-level U.S. and Chinese officials will be meeting in China this week. They are supposed to address ”trade growth” as both sides have warned about reciprocal tariffs on hundreds of billions of dollars worth of import.
I hope both economic parties come to a mutually beneficial agreement, because if they fail to do so, I’m afraid of a hike trade war between China and the U.S. Alright, let’s look into key support and resistance for EUR/JPY and GBP/JPY.
EUR/JPY – Major Trading Levels
Support Resistance
131.91 133.19
131.52 133.58
130.88 134.22
Key Trading Level: 132.55
GBP/JPY – Major Trading Levels
Support Resistance
150.1 152.04
149.5 152.64
148.53 153.61
Key Trading Level: 151.07
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