Tag: GBP/JPY

August 17, 2021 BY Steffy Bogdanova

Weekly data: FOMC’s minutes and RBNZ’s statement ahead

The obvious near-term resistance here is the value area between the 100 and 200 SMAs. Whether this might be tested on Wednesday morning is likely to depend on how markets perceive the accompanying commentary from Dr Orr and other senior members of the RBNZ, not just whether the cash rate is hiked as expected. Lower…

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July 13, 2021 BY Steffy Bogdanova

Weekly forex data: inflation and retail sales in view

While a retest of the multi-year low around ¥6.36 doesn’t seem likely in the immediate future, a movement above the 200 SMA is also unfavourable. With no sign of saturation and the significant low quite close, consolidation with the value area between the 50 and 100 SMAs seems to be possible in the absence of…

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February 15, 2021 BY Steffy Bogdanova

Weekly forex data: inflation around the world

The downtrend for EURGBP continues to be very strong from a technical perspective, with clearer spaces forming between the 50, 100 and 200 SMAs and price extending below the 38.2% area of the weekly Fibonacci fan. Oversold is an important concern for new sellers here, though, with the slow stochastic (15, 5, 5) having displayed…

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February 09, 2021 BY Steffy Bogdanova

Weekly forex data: focus on inflation

From a technical perspective, the uptrend still seems to be active on this timeframe: there has been no clear breach of the 100 SMA. However, price has now moved out of oversold based on both Bollinger Bands (50, 0, 2) and the slow stochastic (15, 5, 5), so more losses this week might be expected…

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February 01, 2021 BY Steffy Bogdanova

Weekly forex data: central banks, trade and the NFP

There seems to be more room for gains here by the US dollar from a technical point of view. Moving averages are below the price, with none except the 200 SMA having offered significant resistance in the second half of January, and the 50 SMA from Bands is about to complete its golden cross of…

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January 11, 2021 BY Steffy Bogdanova

Weekly forex data: inflation in view

From a technical perspective, support around $1.35 has yet to be clearly broken. Despite the recent movement below both the 50 and 100 SMAs, selling volume remains low this week so far and we now have clear oversold signals from both the slow stochastic (15, 5, 5) and Bollinger Bands (50, 0, 2). Both of…

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January 04, 2021 BY Steffy Bogdanova

Weekly forex data: 2021’s first NFP in view

From a technical point of view, the key resistance around $1,900 has now clearly been broken. Moving averages also flipped back to a strong buy signal in the week before Christmas, with both the 50 and 100 SMAs golden crossing the 200. Buying in now looks like a significant risk, though, given clear overbought conditions…

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December 14, 2020 BY Steffy Bogdanova

Weekly forex data: Fed’s meeting in view

Despite the ongoing formation of a classic head and shoulders pattern which might complete over the next few periods, bulls focussing on the chart will have cheered last week’s golden cross over the 50 and 100 SMAs. A combination of both fundamentals, i.e. mainly sentiment, and TA is likely to be important over the next…

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