GBP/JPY: British Pound retreats to 145.350

Denis Joeli Fatiaki Independent Analyst

GBP/JPY: British Pound retreats to 145.350

What is going on now with GBP/JPY?

GBP/JPY: The British Pound rallied in yesterdays session after bouncing at 144.475 support. The pair took out three resistance points during the overnight session before pulling back to 145.350 support during this mornings session.

Our forecast

GBP/JPY: The Pound currently holds its position at the bottom of the 60 minutes price channel at 145.353 and could head back to its 500 EMA at 145.850 if it remains above 145.350 support. The pair could fall to 145.015 and 144.275 if it fails at 145.350 support.

Support/ Short-145.015,144.275, 144.475, and 144.150

Resistance/ Long - 145.350, 145.850, 146.220, and 146.620

The trade signals are posted on to our Telegram channel on a regular basis as per the link below.
https://t.me/leoprimefx

Chart 1: The short-term view of the GBP/JPY price action in the 60 minutes price chart highlights the direction of the trend and the support and resistance price points

Chart 2: The short-term view of the GBP/JPY price action in the four hours price chart highlights the direction of the trend and the support and resistance price points

Author

Denis Joeli Fatiaki

Independent Analyst

Denis Joeli Fatiaki possesses over a decade of extensive experience as a multi-asset trader and Market Strategist.

EUR/USD flirts with daily highs, retargets 1.1900

EUR/USD regains upside traction, returning to the 1.1880 zone and refocusing its attention to the key 1.1900 barrier. The pair’s slight gains comes against the backdrop of a humble decline in the US Dollar as investors continue to assess the latest US CPI readings and the potential Fed’s rate path.

GBP/USD remains well bid around 1.3650

GBP/USD maintains its upside momentum in place, hovering around daily highs near 1.3650 and setting aside part of the recent three-day drop. Cable’s improved sentiment comes on the back of the Greenback’s irresolute price action, while recent hawkish comments from the BoE’s Pill also collaborate with the uptick.

Gold clings to gains just above $5,000/oz

Gold is reclaiming part of the ground lost on Wednesday’s marked decline, as bargain-hunters keep piling up and lifting prices past the key $5,000 per troy ounce. The precious metal’s move higher is also underpinned by the slight pullback in the US Dollar and declining US Treasury yields across the curve.

Crypto Today: Bitcoin, Ethereum, XRP in choppy price action, weighed down by falling institutional interest

Bitcoin's upside remains largely constrained amid weak technicals and declining institutional interest. Ethereum trades sideways above $1,900 support with the upside capped below $2,000 amid ETF outflows.

Week ahead – Data blitz, Fed Minutes and RBNZ decision in the spotlight

US GDP and PCE inflation are main highlights, plus the Fed minutes. UK and Japan have busy calendars too with focus on CPI. Flash PMIs for February will also be doing the rounds. RBNZ meets, is unlikely to follow RBA’s hawkish path.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.