British Pound | Economy of U.K

The British Pound Sterling is the fourth most popularly traded currency, and the third most commonly held reserve currency.

The Japanese Yen is the third most commonly traded currency in the world after the US Dollar and the Euro. 

The primary trend of GBP/JPY is bullish, prices are sustaining on the higher levels & looking further bullish for the few upcoming sessions. The pair is taking resistance from falling trendline, consolidating & gaining strength to break it upside. Today if the pair breaks 184.20 & managed to sustain above it, then we can expect it to continue its ongoing trend & test the level of 184.87/185.20 in today's session. RSI is sustaining in buying territory supporting upside movement in the pair.

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MACD line has recently break the zero line,indicating the up trend in the market.

STRATEGY :- GBP/JPY is looking further bullish on charts. One can go for buy on dips strategy for this pair for intra day to mid term positions.

GBP/JPY and EUR/USD Technical Trend Today

GBP/JPY Technical Trend Today

The pair managed to recover the dead day cross the line which currently are the major resistance (170.69 Tenkan, Kijun 171.25). Initially, this cross is weak because there is no confirmation from the other elements of Ichimoku-emerging cloud bullish, the pair is above the clouds in a bullish zone , Chinkou not yet broken through the price chart. If you manage to cross the goal and settle up, then we can expect the players to increase again will attempt to develop a retreat from the weekly Tenkan (170.29) and cut correctness.

Idea and development opportunities for senior events Halves fully converge and combine with the testimony of the younger half. Scenario of upward movement can be described as - breakdown clouds H1 (SSB 170.69)-cloud computing, H4-H4 sample clouds (SSA 171.37) and fluorescent Cross ( 171.25 ) - formed to work toward goals at halftime breakdown clouds junior-senior halftime continuation of the trend.

EUR/USD Trend Today

Today EUR/USD has support and resistance at 1.3625 and 1.3717. The rate is accompanied by strong support at 1.3612 and by 1.3730 as strong resistance. If EUR/USD breaks out and closes below the 1.3603 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3739 level, then it will denote high bullish strength. Alternatively, for advance traders, you can trade in a way to open a BUY position at the level of 1.3638 and at 1.3704, a SELL position. In this case both targets should be placed at the level of 1.3671.