|Day's Range||140.2 - 141.169|
|52 Week Range||139.45 - 156.09|
The British pound continues to find support at the ¥140 level, as the selling has abated a bit. Obviously though, we have concerns about the Brexit, and of course the global headlines continue to cause issues. With that in mind, be very cautious but it does start to look like there may be a glimmer of hope.
The British pound went back and forth against the Japanese yen during trading on Thursday, initially trying to rally, but failing and rolling over at the ¥141 level. This may have been predicated upon the idea that the Chinese were coming to speak to the Americans, but at the end of the day the Brexit still looms large.
The British pound has fallen during most of the session on Wednesday as I write this, but it is starting to tread water near a supportive candle. Because of this, it’s possible we may get a bit of a pop from here, given the buyers some type of relief.
The British pound was very noisy during the Tuesday session, initially spiking towards the ¥142.50 level, but then pulling back. At this point, keep in mind that this pair is highly sensitive to risk appetite, so it makes sense that “The Dragon” will continue to be very noisy.
The British pound initially gapped lower against the Japanese yen as fears about turkey continue to put a huge “risk off” attitude into the market. However, by the time the Americans came back to work, it looks as Ankara is blinking a bit. Because of this, the pair went straight back up.
The British pound struggled again during the week, reaching down towards the ¥141 level before bouncing slightly. This is a market that continues to worry about the Brexit and of course risk appetite with geopolitical events, but we are approaching a significant support barrier.
The British pound fell again during the day on Friday, as we continue to see a lot of volatility risk appetite type markets such as this one. I believe that the market will continue to be very difficult to get a handle on, mainly because of fears of the Brexit and of course the geopolitical concerns around the world.
The British pound initially tried to rally during the trading session on Thursday, but then rolled over at the 143.50 level. However, since then we have found a bit of support underneath so it should be interesting to see if the value hunters can push this market to the upside.
The British pound fell hard during the trading session on Wednesday against the Japanese yen, and all other currencies for that matter, as fears of no deal coming from the Brexit continue to weigh upon Sterling.
The British pound broke below a support level against the Japanese yen during early American trading on Tuesday, slicing through the ¥144 level. Because of this, it looks as if we are ready to go a bit lower, and as a result it’s likely that we will reach towards the ¥143 level.
The British pound has fallen significantly to open up the week against most currencies, showing signs of concern when it comes to the Brexit. The market looks likely to be punishing the British pound due to uncertainty when it comes to the Brexit. With this being the case, it’s likely that we could see a bit more in the way of softness.
The British pound initially tried to rally during the week but rolled over to suffer losses against the Japanese yen for the week. We are below the ¥145 level, which of course is a psychologically important level, but you can see that the bottom of a couple of hammers sits just below.
The British pound fell significantly against the Japanese yen on Friday, showing signs of real weakness. The question is now where can we go from here? We have broken through ¥145 level, but as I record this there seems to be a bit of a fight built into this market.
The British pound rallied against the Japanese yen during the trading session on Wednesday, reaching towards the ¥147 level. That’s an area that is only psychologically resistant, and I think that the true supply level is probably closer to the ¥147.50 level.
The British pound exploded to the upside against the Japanese yen during the Tuesday session after the Bank of Japan had its announcements. The Japanese yen was weaker across the board, so it makes sense that “The Dragon” took off to the upside as well.
The British pound while slightly positive during the trading session on Monday against the Japanese yen, but we have also seen quite a bit of resistance near the ¥146 level. That’s an area that should be a bit difficult to overcome, but it would be crucial for the buyers and their success.
According to different estimates, there is a risk now for Japan to get involved in the trade wars between the US and China. As of yet, there are no compelling reasons to be afraid of it, but in theory, such possibility really exists.
The British pound has been very noisy over the last week, with a slightly negative bias built in. It looks as if the ¥145 level underneath is broken to the downside, it’s likely that we could see continued bearish pressure. However, I would need to see a weekly close below that level to get short.
The British pound has drifted lower against the Japanese yen during the trading session on Friday again, reaching towards the ¥145.50 level. This is an area that has been supportive in the past, so don’t be surprised if we get some type of bounce.
The British pound has gone sideways during most of the session on Tuesday, as we tread water just below the ¥146 level. The market looks likely to continue to tread water in the short term, at least until we can get an idea as to the political situation in the United Kingdom, and of course the overall risk appetite around the world.
The British pound that did very little during the trading session on Monday to open up the week, as we continue to hover around the ¥146 level. This is an area that of course is a bit low, but most importantly we have broken through a recent uptrend line.
Last week was very volatile, especially for the USDJPY. Today, USDJPY reached a combination of two important supports. Price Action says that the broken resistance should be tested as a support and that is exactly what is happening now.
Trump’s comments may have ignited the initial sell-off in the Dollar/Yen, however, they are now an afterthought due to the reports that the BOJ is considering a shift in monetary policy. The story is still breaking and details are sparse, but investors are wasting no time waiting for official word which probably won’t come out until next week’s central bank meeting.
The British pound fell during the bulk of the week, in terms of Japanese yen. However, there seems to be a significant amount of support just below in the form of the ¥145 level, and we most certainly have not broken below there.
The British pound fell again during the day on Friday in the Japanese yen terms, as we reached towards a significant support area in the form of ¥146 and uptrend line. At this point, I think that we are trying to build up enough momentum to bounce, but I also recognize how precarious the situation could be.