Technical Analysis: USD/JPY - GBP/USD

20 June, 2017

USD/JPY

During yesterday’s trading session, USD/JPY grew and merged above the strong resistance level of 110.85. As a result of the growth of the yield of treasury bonds, the USD strengthened against the JPY. The USD/JPY is expected to grow even further, following the increase of the US treasury bonds yield. On the daily chart the pair is trading near the strong resistance level of 111.80.

Support and resistance

  • Resistance levels: 111.80, 113.00, 114.40.
  • Support levels: 110.85, 110.00, 109.20.

GBP/USD

The pair was seen to be under pressure after the statement of Mark Carney, the head of Bank of England who devoted his speech to economic risks faced by the UK due to Brexit. Therefore, the pair is expected to drop even further in the next 1.5-2 weeks. On D1 chart, the instrument is trying to merge above the strong resistance level of 1.2700.

Support and resistance

  • Support levels: 1.2680, 1.2645, 1.2600.
  • Resistance levels: 1.2700, 1.2710, 1.2770, 1.2810, 1.2855.

Source   Presented by STO
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