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