Corona Virus
Stay Safe, FollowGuidance
Fetching Location Data…
Christopher Lewis

The British pound has shown itself to be somewhat buoyant over the last couple of days, but the market is most decidedly in a downtrend over the long term, and of course we have the ¥135 level above offering resistance. Ultimately, I do not have any interest in trying to get too cute with this pair, and I am simply waiting for an opportunity to sell it. The ¥135 level is an area that will get targeted by both buyers and sellers, so it will be interesting to see how we play there. Beyond that, the ¥136 level offers resistance as well, so I think that we are getting relatively close to an opportunity to short this pair again.

GBP/JPY Video 25.09.20

To the downside, the ¥133 level will offer support, as it has over the last couple of days. I still believe that the market probably break through there and reach towards the ¥132 level. Ultimately, this is a market that is getting ready to see the “death cross” when the 50 day EMA crosses below the 200 day EMA. While I am not a huge fan of that indicator, I understand that a lot of people do pay attention to it. With that in mind, I am looking for signs of exhaustion that I can take advantage of because quite frankly the British pound has a ton of risk around it, not the least of which would be Brexit, but we also have to worry about the United Kingdom locking down its own economy, which of course is not going to be good for the currency either.

For a look at all of today’s economic events, check out our economic calendar.

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker

  • Your capital is at risk
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.