See also
The GBP/JPY pair rallied in the last hours and now is located at 182.49 at the time of writing. The price action invalidated a deeper drop, so a new leg higher is favored. Still, the rate stands right below key resistance levels, so further growth needs confirmation.
As expected, the BOJ left the BOJ Policy Rate at -0.10%. Furthermore, Retail Sales, Prelim Industrial Production, and Housing Starts came in worse than expected, weakening the JPY.
Technically, the price failed to stabilize below the 181.66 historical level, signaling exhausted sellers. Now, it has edged higher after escaping from the minor down-channel pattern.
GBP/JPY is challenging the median line (ml) and the 182.58 former high. These levels represent strong upside obstacles.
Closing and stabilizing above 182.58 and above the median line (ml) activates further growth. This is seen as a buying opportunity.
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
Analysis of Thursday's Trades 1H Chart of EUR/USD The EUR/USD currency pair traded throughout Thursday, both before and after the publication of the U.S. Nonfarm Payrolls and unemployment data
The GBP/USD currency pair on Thursday showed nearly identical movements to the EUR/USD pair. This is not surprising, as over the last five months it's not the euro
The EUR/USD currency pair traded quite expressively on Thursday. For most of the day, we observed a low-volatility sideways movement, and as soon as U.S. labor market and unemployment data
Analysis of Wednesday's Trades 1H Chart of GBP/USD On Wednesday, the GBP/USD pair plunged like a stone dropped from a skyscraper, prompting currency analysts to immediately search for the reasons
Analysis of Wednesday's Trades 1H Chart of EUR/USD On Wednesday, the EUR/USD currency pair attempted to begin a new round of downward correction, and the result of this attempt
On Wednesday, the GBP/USD currency pair crashed for no apparent reason. There was no major news in either the UK or the US that could have triggered a nearly 200-point
On Wednesday, the EUR/USD currency pair declined slightly but generally showed no inclination to follow the British pound, which had crashed by nearly 200 points. The euro remained above
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