The JPY is the strongest and the NZD is the weakest. Jump in for the fresh analysis!
GBP/JPY rising inside minor corrective wave (ii)
- GBP/JPY rising inside minor corrective wave (ii)
- Next buy target - 150.00
GBP/JPY continues to rise inside the minor corrective wave (ii) which started earlier from the support area lying between the major support level 144.00 (which stopped the sharp downtrend in May) and the lower daily Bollinger Band. The price is currently approaching the resistance level 148.00 (top of wave 2) – the breakout of which is likely to lead to further gains toward 150.00 (top of wave (iv)).
European shares fell on Monday as rising COVID-19 infection rates in Europe prompted renewed lockdown measures in some countries, casting doubt over the economic recovery, with a lack of U.S. stimulus also weighing on sentiment.
Asian equity markets were subdued, and US equity futures traded choppy after last Friday’s losses on Wall Street.
The dollar index was up late Tuesday afternoon in Asia, extending the 0.8% gain in the previous session, when COVID-19 fears and worries over the US Congress’ stimulus impasse drove a selloff across other assets.
Bank of England Governor Andrew Bailey delivered a speech today. Let’s discuss what it means for a trader.
Gold has started a remarkable downside correction and stands on the key 23.6% retracement area after a failure to hold the 38.2% retracement area.