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Technical Analysis: USD/JPY - GBP/USD

STO

USD/JPY

During yesterday’s trading session, USD/JPY grew and merged above the strong resistance level of 110.85. As a result of the growth of the yield of treasury bonds, the USD strengthened against the JPY. The USD/JPY is expected to grow even further, following the increase of the US treasury bonds yield. On the daily chart the pair is trading near the strong resistance level of 111.80.



Support and resistance
Resistance levels: 111.80, 113.00, 114.40.
Support levels: 110.85, 110.00, 109.20.

GBP/USD

The pair was seen to be under pressure after the statement of Mark Carney, the head of Bank of England who devoted his speech to economic risks faced by the UK due to Brexit. Therefore, the pair is expected to drop even further in the next 1.5-2 weeks. On D1 chart, the instrument is trying to merge above the strong resistance level of 1.2700.



Support and resistance
Support levels: 1.2680, 1.2645, 1.2600.
Resistance levels: 1.2700, 1.2710, 1.2770, 1.2810, 1.2855.

This article comprises the personal view and opinion of the STO Investment Research Desk and at no time should be construed as Investment Advice.

STO Review

Source: https://www.stofs.com/en/newsroom/entry/TECHNICAL/technical-analysis-usdjpy-gbpusd/?camp=24219
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