![]() Registered Address: 251 Little Falls Drive, Wilmington, DE 19808. FXP is not responsible for any trading decisions taken by persons not intended to view this material. Any examples given are provided for illustrative purposes only and no representation is being made that any person will, or is likely to, achieve profits or losses similar to those examples. It is not a solicitation or a recommendation to trade derivatives contracts or securities and should not be construed or interpreted as financial advice. This information is made available for informational purposes only. Information presented by FXP should be construed as market commentary, merely observing economical, political and market conditions. residents or individuals domiciled in the U.S. Any and all information provided by FXP is not intended for use by U.S. We recommend that you seek independent advice and ensure you fully understand the risks involved before trading.įX Publications Inc., abbreviated herein as FXP, (d.b.a DailyFX) is no longer a registered Introducing Broker with the Commodity Futures Trading Commission and is no longer a Member of the National Futures Association in the U.S. We advise you to carefully consider whether trading is appropriate for you based on your personal circumstances. Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors. Support is seen around 172.00 to 174.00 while 186.35 and 188.81 are prior levels of resistance that should be monitored.ĭailyFX provides forex news and technical analysis on the trends that influence the global currency markets. With volatility in the pair remaining high, any BoJ chatter could send GBP/JPY sharply lower, especially as the pair rallied from a low of 174 to hit a 182 high in just four days. There is a bullish flag forming on the daily chart that suggests the path of least resistance is higher, but the BoJ has previous form when it comes to verbal currency intervention if they feel that the Yen is too weak. The fundamental backdrop of a dovish Bank of Japan (BoJ) and an increasingly hawkish Bank of England (BoE) has fuelled the move to date, and this move may have more to run, but care needs to be taken. The pair is up 11% since the start of April and are currently trading at, or very close to, levels last seen in December 2015. One of the big FX winners of Q2 has been long GBP/JPY. ![]() GBP/ JPY – Entering Overbought Territory? ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |