USD/CAD faces some difficulties
USD/CAD formed a “gravestone doji” candlestick on the W1 ahead of the 50-week MA (1.3280). Learn more!
GBP/JPY is choosing the way
Trade ideas
SELL 144.00; TP1 143.60; TP2 143.10; SL 144.15
BUY 145.10; TP 146.00; SL 144.90
GBP/JPY has been moving up since the start of January. The pair broke out of a bullish flag and reached new highs in the 145.00 area. The natural target on the upside would be to test the 2018 downtrend resistance line in the 147.00 area.
However, so far GBP/JPY has been capped by the declining 200-day MA at 144.60. The Awesome Oscillator didn’t confirm the recent high. As a result, a pullback down to 100-day MA may bring the pair to 143.60 or to the next support at 143.00.
On H4, we can see that the most recent consolidation took place between 145.00 and 144.05. The direction of the breakout will decide the near-term fate of the pound.
Elizabeth Belugina
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Latest news
USDJPY is in a correction after checking the local support level.
The US dollar is currently in a correction, but is likely to continue the trend down.
USD/CAD faces some difficulties
USD/CAD formed a “gravestone doji” candlestick on the W1 ahead of the 50-week MA (1.3280). Learn more!
The outlook for the GBP
The British pound has been enjoying itself versus the other major currencies during the past weeks. WIll the advance of the GBP continue?
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