GBP/USD offical break is located at 1.2588 to target 1.2721. To challenge 1.2588 and break, GBP/USD must hold above 1.2515,  1.2551, 1.2471 and 1.2441. Overall longs are safe above GBP/USD 1.2350.

For next week, GBP/USD overbought begins at 1.2550's. A lower GBP/USD allows another shot at longs. The bottom below 1.2441 is located at 1.2419.

GBP/USD above 1.2588 trades 259 pips from 1.2588 to 1.2847. GBP/USD above 1.2847 trades 399 pips from 1.2847 to 1.3246. Historically from a very long term perspective, GBP/USD is comfortable to trade 1.2847 to 1.3246. In months down the road, GBP/USD has every opportunity to trade 1.2847 to 1.3246.

EUR/USD big break is found at 1.0924 to target 1.1037. Vital levels 1.0852, 1.0924, 1.0937, 1.0985. EUR/USD longs are safe above 1.0738. Below 1.0738 then back to 1.0600's and long again.

USD/JPY extreme prices are located at 140.45, 141.46 and 142.47. USD/JPY at 139.00's trades at the upper end to extremes. USD/JPY not only trades at maximums from 137.00's but lower averages trade severely overbought at 121.00's, 117.00's and 114.00's.

USD/JPY must cross below 137.42 and 135.89 then USD/JPY is gone to target 129.87 and challenge the vital break at current 127.60. Below 127.60 then targets 126.41 and final target at 123.69.

The ironic aspect to the USD/JPY forecast is the BOJ agrees as the BOJ methodoilogy is known long in advance.

The USD/JPY weekly target at low 138.00's traded to 138.75 from highs at 140.24. Monday, USD/JPY heads lower.

GBP/USD vs USD/JPY

The longest term perspective to GBP/USD Vs USD/JPY trades as GBP/USD 1.4074 Vs USD/JPY 124.18. Both GBP/USD and USD/JPY are longest term targets. Historically, the GBP/USD price is very low and USD/JPY extremely high.

GBP/USD by exchange rates alone is the best partner to USD/JPY in the G28 universe.

EUR/USD Vs USD/JPY trades as EUR/USD 1.4252 to USD/JPY 104.66. The alignment runs as EUR/USD 1.0963 Vs USD/JPY 137.61, EUR/USD 1.1163 Vs USD/JPY 135.61, EUR/USD 1.1563 Vs USD/JPY 131.61.

EUR/USD validates the USD/JPY break at 137.00's and 135.00's. 

Trading currencies and other financial instruments carries a degree of loss and possible loss of entire investments. Please managed your own risks, stop loss, and margins requirements.

Recommended Content


Recommended Content

Editors’ Picks

AUD/USD: Upside appears capped around 0.6800

AUD/USD: Upside appears capped around 0.6800

AUD/USD halted its multi-day recovery after faltering once again near the key 0.6800 mark on the back of a modest advance in the US Dollar and the bearish performance of the risk-linked galaxy.

AUD/USD News

EUR/USD Monday bidding blinks as ECB rate call looms over the horizon

EUR/USD Monday bidding blinks as ECB rate call looms over the horizon

EUR/USD fell short of recent bullish momentum, pulling back sharply after a brief jump above 1.0900 to kick off the new trading week and keeping price action strung out along the top end of a descending price channel. 

EUR/USD News

Gold on its route to retest record highs at $2,450

Gold on its route to retest record highs at $2,450

Gold regains its traction and trades in positive territory slightly above $2,420 after dropping toward $2,400 at the beginning of the week. Investors await Fed Chairman Powell's appearance at the Economic Club of Washington.

Gold News

Meme coins soar in double-digit gains as PEPE, WIF, FLOKI, MOG lead the charge

Meme coins soar in double-digit gains as PEPE, WIF, FLOKI, MOG lead the charge

Meme coins are leading the crypto market again as the ripple effect of Bitcoin's recovery is flowing across major crypto categories. PEPE, WIF, FLOKI and MOG are at the forefront of the recovery, elevating their daily performance above the 20% mark on Monday.

Read more

The Trump trade

The Trump trade

The US markets may have had a mild reaction to the assassination attempt on Donald Trump at a rally in Pennsylvania at the weekend, however, there are long term ramifications for financial markets, particularly in Europe.

Read more

Majors

Cryptocurrencies

Signatures