GBP/JPY & EUR/JPY Trading Levels – U.K. and Eurozone CPI Up Next - Forex News by FX Leaders
Japanese Crosses - Key Trading Levels

GBP/JPY & EUR/JPY Trading Levels – U.K. and Eurozone CPI Up Next

Posted Wednesday, July 18, 2018 by
Arslan Butt • 1 min read

It’s been another volatile day as the U.K. labor market observed wages growing in line with forecast. Whereas, the unemployment rate held at four-decades’ low reinforcing the sentiments of the Bank of England hiking rates on August 2.

At the other end, the Greenback rose to a six-month high against the Yen and steadied against other major peers today after Fed Chair Powell indicated positive U.S. economic growth, boosting the expectations that the Federal Reserve will hike interest rates two more times this year.

Investors are also expecting CPI data from the Eurozone and U.K. along with Fed Chair Powell’s Testimony. Take a quick look at FX Leaders July 18 – Economic Event’s Outlook for more in-depth discussion on these economic events. Anyway, it’s gonna be interesting to trade Japanese crosses on the release of fundamentals. Take a look at key trading levels…

EUR/JPY – Major Trading Levels

Support Resistance
131.56 131.92
131.46 132.02
131.28 132.2
Key Trading Level: 131.74

GBP/JPY – Major Trading Levels

Support Resistance
147.74 148.84
147.41 149.17
146.86 149.72
Key Trading Level: 148.29

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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