Trading news

GBP/JPY Inverted Triangle Upside Broken

Global equities rally that extended in Asia session weakened the Yen and it fell vs its main counterparts USD and GBP. Both USD/GBP/JPY are heavily connected to Equity markets and when Equities are going up both USD/JPY and GBP/JPY are going up too. The pair has formed an Inverted Triangle (ConTriangle) and subsequently broke its top so we might see a retest-continuation.
The POC (DPP, L3. ConTriangle top, 50.0, ATR PP) comes within the 141.85-142.00 zone. If the momentum persists and we don't see any retracement, then traders should pay attention to a possible continuation above 142.95 towards 143.40 (breakout level) and 143.60 projected high. Overshot above 143.60 targets 144.20. For intact bullish scenario the pair should hold above 141.50.

Admiral Markets Review

Wednesday, 25 Jan, 2017 / 12:28

Note: Company News is a promotional service of the Directory and the content isn't created by Finance Magnates.

Source : https://admiralmarkets.com/analytics/technical-analysis/gbp-jpy-inverted-triangle-upside-broken

Trading news

 

A Widening Gap? UK GDP & German ZEW Survey

The difference in vaccine rollout within Europe is most likely to have a major [...]

Posted on Monday, 12 Apr, 2021 / 2:04 under

Gold futures traded lower on Friday, a day after recording the strongest daily surge for the month

Rising US Treasury yields and an uptrend in the greenback exerted pressure on [...]

Posted on Monday, 12 Apr, 2021 / 12:03 under

The latest Fed and ECB statements move the currency market

Over the weekend, the Fed head has once again assured that the ultra-expansive [...]

Posted on Monday, 12 Apr, 2021 / 11:59 under