USD/JPY rose to the resistance of the 50-week MA at 106.00. The pair is not at the resistance line since the end of December.
EUR/GBP ahead of the BoE meeting
Information is not investment advice
EUR/GBP has so far been one of the most volatile currency pairs. It rose to 2-year highs and the ascent was fast. Daily oscillators show bearish divergence and indeed a correction took place yesterday: a bearish “engulfing” candlestick appeared on D1.
The upcoming meeting and press conference of the Bank of England (BoE) promise further moves of the exchange rate. There’s scope for more correction, so a decline below the Wednesday’s low at 0.9089 will open the way down at least to 0.9050 (July 17 high). Notice that the ultimate support is at 0.8950 (bottom of the bullish channel).
At the same time, the dovish Bank of England may weaken the GBP once again bring the pair back to the channel’s top. A rise above 0.9130 will make the pair rise to 0.9180.
Ichimoku Kinko Hyo AUD/JPY: The pair is trading above the cloud…
While the oil cartel member country leaders meet to decide on the supply increase quantity, WTI oil price moved up a bit. What are we in for?
Ichimoku Kinko Hyo CAD/JPY: The pair is trading above the cloud…