Don’t waste your time – keep track of how NFP affects the US dollar!

Data Collection Notice

We maintain a record of your data to run this website. By clicking the button, you agree to our Privacy Policy.

facebook logo with graphic

Join Us on Facebook

Stay on top of company updates, trading news, and so much more!

Thanks, I already follow your page!
forex book graphic

Beginner Forex Book

Your ultimate guide through the world of trading.

Get Forex Book

Check Your Inbox!

In our email, you will find the Forex 101 book. Just tap the button to get it!

FBS Mobile Personal Area

market's logo FREE - On the App Store

Get

Risk warning: ᏟᖴᎠs are complex instruments and come with a high risk of losing money rapidly due to leverage.

76.5% of retail investor accounts lose money when trading ᏟᖴᎠs with this provider.

You should consider whether you understand how ᏟᖴᎠs work and whether you can afford to take the high risk of losing your money.

3 Forex Pairs to Trade Right Now

3 Forex Pairs to Trade Right Now

Information is not investment advice

The year started only a couple of weeks ago, but we already have a lot of fascinating movements in various trading instruments. To help you in trading, we choose several forex pairs that may surprise you and plunge greatly in a short period. 

GBP/JPY

Japanese Yen is a haven asset, that’s no doubt. As a result, the currency strengthened amid omicron spread as investors have been trying to locate their funds in the most stable currencies, usually the Yen and Swiss Frank. As a result, the currency gained almost 2000 points against the GBP over the last week, but now we see bearish figures both technically and fundamentally.

From the fundamental side, Japan has around 0.5% inflation rate. It is much higher than a year ago (Japan is one of the countries with deflation, which means that the Yen tends to become more expensive with time). Nevertheless, 0.5% in Japan is hard to compare with almost 7% in the US or 5% in the EU. As a result, the Bank of Japan will likely keep its dovish tones. Add this to hawkish tones from other countries’ central banks, and you will get the idea. Fundamentally, without rates hikes, JPY looks weaker against other currencies.

Technically we have an unfinished inversed head&shoulders pattern in GBP/JPY. It is a reversal pattern. Thus, we expect the GBP to rise against the Yen and reach 157.7 in the short term.

GBP/JPY H1 chart

Resistance: 156.70; 157.70

Support: 156.00; 155.50; 155.00

GBPJPYH1.png

GBP/USD

Not only is the Yen weak, but British Pound is solid this year. The currency shows incredible performance against other currencies year-to-date, and amid the weak dollar, we expect a surge in the GBP/USD.

clipboard-image (4).png

The rally in the pair needs some consolidation. However, technically we have no sell signals except for the RSI divergence. Thus, 1.3620 is a perfect place to put your buy orders.

GBP/USD H4 chart

Resistance: 1.3750; 1.3840

Support: 1.3620; 1.3540; 1.3400; 1.3160

GBPUSDH4.png

EUR/CHF

First, it is better to wait for ZEW economic sentiment on January 18, 12:00 GMT+2. This index represents the view of institutional investors and analysts on the current economic conditions. Thus, it will help the pair to determine the direction more accurately.

Despite the upcoming news, the Swiss Franc is another haven asset and tends to be weaker amid hawkish tones from the ECB. Technically we see multiple divergences on the RSI and a breakthrough of the 50-daily MA from below. The pair is now at its lowest from 2015. Thus, 1.0330 is the most solid resistance over there. We may see a double bottom reversal pattern and further bullish movement to at least 1.0600.

EUR/CHF daily chart

Resistance: 1.0600; 1.0730

Support: 1.0330

 EURCHFDaily.png

  LOG IN

Similar

The BOJ doesn’t Want to Help the Yen

Over the past year, the yen has been moving lower against the dollar mainly because of the overall USD strength. But there’s more behind the weakness of the JPY. How low could the currency go, and what drives USDJPY?

Popular

Gold isn't saving investors from inflation

Many investors treated gold as a protection against inflation. However, last week, gold lost its major support and dropped despite rising inflation. Why did it act like this?

Choose your payment system

Feel the Team Spirit

Callback

Please fill in the form below so we can contact you

Select the best time for us to call you. We give calls from Monday to Friday in suggested intervals. In case we couldn't get through, we will try again at the same time the next day. For getting real-time assistance, use FBS chat.

We provide only English-speaking callbacks. If you prefer any other languages, contact the support team.

We will call you at the time interval that you chose

Change number

Your request is accepted.

We will call you at the time interval that you chose

Next callback request for this phone number will be available in 00:30:00

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later