GBJPY Probes Highs
The recent break in the positive correlation between GBPJPY and equities has given away to a 12% gain in the cross pair, allowing it to close above the 100-day MA for the first time since August 2008. Although 141.80 resistance has held since December, I caution against a breach of this level at the next spurt in risk appetite, which tends to reward currencies whose central banks have already started quantitative easing. A breach towards 143.75 is possible amid a breach of 100 in USDJPY. Until then, downside remains biased towards 136.50. A BONUS TIP is to favour GBP vs CAD targetting 1.8250 from current 1.810.
More Hot-Charts
-
Bitcoin versus Miners Performance
Apr 9, 2024 16:02 | by Ashraf LaidiAs many of you know 2023 was kind to members of our WhatsApp Broadcast Group who snapped up shares in bitcoin miners, while 2024 has so far been more superior to Bitcoin than most of the miners... -
Gold, Bitcoin, USD Combo
Jun 22, 2023 16:46 | by Ashraf LaidiI mentioned last week on here on how and why both gold and USD are falling together. Since then, the trend accelerated alongside another detail. -
تفسير مراحل الذهب
Mar 17, 2023 21:28 | by Ashraf Laidi.