GBP/JPY and EUR/JPY – Intraday Technical Levels
Arslan Butt•Tuesday, August 14, 2018•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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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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