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

The British pound initially pulled back during the week, but then found the 200 week EMA to be strong enough to turn things around and reach towards the upside. The ¥145 level is of course a minor level of importance from a psychological standpoint, so don’t be surprised at all to see this market take off a bit if we can get above there. If the market turned back around, the ¥141 level seems to be a very strong support level. Expect a lot of choppiness but keep in mind that this pair does tend to move right along with risk appetite. However, there is a new dynamic in this pair featuring the Japanese yen itself.

GBP/JPY Video 24.02.20

Money is starting to flow out of Japan just simply because of economic conditions worsening. It looks as if the Japanese are going to head into recession, and of course the coronavirus issue is putting more pressure on the Japanese economy as cases is starting to increase their and of course the Chinese and Japanese have a lot of trade back and forth.

Know where the Market is headed? Take advantage now with 

75% of retail CFD investors lose money

The candlestick does look very healthy, so at this point I think the buyers will eventually overwhelm things. That being said, heading into the weekend a lot of buyers probably don’t want to put on a ton of risk. Next week should be positive, but we need to get past the ¥145 level before putting money to work. With that in mind, I am cautiously optimistic but the one thing I know I don’t want to do is sell this market.

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.