STERLING_PIPS

STERLING_PIPS

USD/JPY pair fell 1.3% on Thursday, the biggest single-day drop since May 17, 2017.

STERLING_PIPS

GBP/USD skidding along the bottom of the recent sell-off(s) Brexit dramas are here to stay for the pound, but the Fed takes the spotlight today. no signs that the long-term bearish trend could change course.

STERLING_PIPS

GBP/JPY farther below 134.00, capped near the trend-channel support breakpoint, now turned resistance around the 134.40-50 region.

STERLING_PIPS

GBP/USD flexed up to the 1.2550 level. That zone runs from 1.2500-1.2523, and this filled-in on Wednesday of this week ahead of a break down to fresh two-year-lows. The area of focus that appears most attractive for that scenario right now comes-in around the 1.2442-1.2450 zone that had provided support earlier in July. This can open the possibility of stops...

STERLING_PIPS

Bears in control Minor resistance at 134.50/55. A break above 135.15 meets a selling opportunity at 135.70/80, with stops above 136.00. A break below 133.90 targets 133.50/45 and 133.00/132.90. Please like or Follow :)

STERLING_PIPS

Today could be the fourth consecutive down-day in a row for GBP/USD, the longest stretch since mid-June. The next possible technical support level could be found at the downward-sloping trendline drawn from the May 23 low, which is about 1.2363 today. GBP/USD is currently trading at 1.2430.

STERLING_PIPS

USD/JPY stuck around the 23.6% retracement of its July’s decline. “The 20 DMA is flat at around 108.10, while the 100 and 200 DMA maintain their bearish slopes well above the shorter one.” The pair recovered on Friday but failed to regain the critical 108.00/10 technical area. Please Like or Follow :)

STERLING_PIPS

Cable is trading below 1.2550 resistance and the 100 and 200 SMAs. If bears break below 1.2509 support they could drive the market down towards 1.2444 and 1.2392. Please Like or Follow :)

STERLING_PIPS

GBPJPY bottomed at 134.94 and is hovering around 135.00, about to post the lowest close in more than 2 year. This level of course will attract a lot of attention, as it is considered to be a large, round, psychologically significant figure.

STERLING_PIPS

The 1.25 level course will attract a lot of attention, as it is considered to be a large, round, psychologically significant figure.

STERLING_PIPS

Analysts forecast USD/JPY could drop to 107.00 in the short term before turning to the upside, reaching 110.00 in a six month period. Buy: 0 Sell: 12 Summary:Strong Sell

STERLING_PIPS

Successful break of 136.62/66 confluence of EMAs on 4-hour chart, namely the 4H 21 and 4H 50EMA, can trigger the pair’s recovery to 23.6% Fibonacci retracement of late-May to June declines, 136.86, while the week’s high of 137.34 might become buyers’ choice then after.

STERLING_PIPS

GBP/JPY holding above 108.00/10 for a buy signal targeting 108.46/50 and 108.65/70. Above 108.75 targets strong resistance at 108.90/95. Shorts stops above 109.05. Strong support at 108.10/00. Longs stops below 107.85.

STERLING_PIPS

To the upside, and from a surprise positive progress from Xi/Trump meeting, bulls can target 138.20.

STERLING_PIPS

Cable is trading just below the 200 SMA suggesting potential weakness in the medium term. The level to beat for bears is 1.2659 support. If broken 1.2603 can become the next target for sellers.

STERLING_PIPS

USDJPY price just reached 107.735 just below the 200 hour MA and 50% midpoint levels. However, the price is back at 107.81 as additional sellers did not bite on the first peek below that support level.

STERLING_PIPS

The British pound initially tried to rally during the trading session on Tuesday but gave back quite a bit of the gains as we turned around and sold off. At this point, the market looks likely to break down towards the ¥141 level, and then possibly the ¥140 level. Please like or follow :)

STERLING_PIPS

This pair has been in a downtrend and has just created a lower low followed by a pullback and nice advanced engulfing 123 candle. All below the 50ema. This makes for a good example of the pullback strategy. Entry - 109.65 Stop - 109.98 T1 - 109.33