GBP/JPY and EUR/JPY – Intraday Technical Levels - Forex News by FX Leaders

GBP/JPY and EUR/JPY – Intraday Technical Levels

Posted Tuesday, August 14, 2018 by
Arslan Butt • 1 min read

The Asian markets struggled to recover their footing on Tuesday as tremblings from the collapse of the Turkish Lira declined. Whereas, investor sentiment switched to Chinese economic events which eventually turned negative.

The demand for Japanese Yen boosted as uncertainty in Turkey boosted the haven appeal. If you wonder why gold isn’t getting bullish over this news, well gold has a direct correlation with the dollar and it’s strongly negative. Whereas, safe-haven currency Yen is free to move during uncertainty.

EUR/JPY – Major Trading Levels

Support Resistance

125.4 126.64

125.01 127.03

124.39 127.65

Key Trading Level: 126.02

GBP/JPY – Major Trading Levels

Support Resistance

140.48 141.7

140.11 142.07

139.5 142.68

Key Trading Level: 141.099

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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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