GBP/JPY & EUR/JPY Trading Levels – Trade War Tensions Continue to Dominate

The global trade war sentiment continues to dominate as investors are depressed that the Trump administration’s plan to trade is hurting...

Japanese Crosses - Key Trading Levels

The trade war sentiment continues to hurt global economic growth as investors are depressed about Trump administration’s plan to impose tariffs on international trade. However, for now, the White House program to prevent Chinese investment in the U.S. technology sector seems to be softening. The trade war tensions are keeping the demand for safe-haven assets like gold, silver, Japanese Yen and Swiss Franc in check.

Investors are also expecting the final GDP figure from the United States, in addition to the European Union summit to impact markets today. Looks like a good time to trade Japanese crosses as these aren’t influenced by the U.S. fundamentals and investors feel hesitant to enter the market ahead of major news releases like GDP. Do check FX Leaders June 28 – Economic Event’s Outlook for handy information on these events.

As discussed earlier, the EU Summit is likely to begin today and the Brexit discussions remain at the top of the agenda. It may impact both the Sterling and the Euro over the next two days. So, I have spotted fresh trading levels to trade the GBP/JPY and EUR/JPY.  Let’s take a look…

EUR/JPY – Major Trading Levels

Support     Resistance

127.27    128.09

127.02    128.34

126.61    128.75

Key Trading Level:    127.68

 

GBP/JPY – Major Trading Levels

Support     Resistance

144.49    145.37

144.22    145.64

143.78    146.08

Key Trading Level:    144.93

ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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