GBP/JPY and EUR/JPY – Intraday Technical Levels

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