GBP/JPY extends recent decline to low 151.00s, bears eye 149.00 support zone as Russo-Ukraine woes continue By Frank_Macro GBPJPY BOE RussianFederation
tive sterling in exchange for the safe-haven yen as choppy, risk-off market conditions continued. At current levels in the 151.20s, the pair trades a further 0.4% lower on the day on Monday, taking its three-day run-off losses from last week’s highs above 155.00 to more than 2.5%. With no signs of near-term de-escalation to the Russo-Ukraine war and, subsequently, no respite for the ongoing “commodity crisis” insight, expected more risk-off conditions ahead seems like a reasonable bet.
GBP/JPY bears will now likely be targeting a test of 149.00, a key area of support, in the weeks ahead. 149.00 has acted as a floor to the price action going all the way back to last July when the pair hit 148.50. It remains far too early to call for a meaningful break below this area of key support – indeed, at current levels, the pair still trades about 1.5% above these levels.
If GBP/JPY was to fall below 158.00, it would have cleared all major levels of support all the way to around 145.00. Of course, that would be a big call to make . In the more immediate future, aside from geopolitics, traders will have other risks to keep an eye on, the most important of which will be next week’s BoE and
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
GBP/JPY Price Analysis: Hovers below 152.20 resistance confluenceGBP/JPY Price Analysis: Hovers below 152.20 resistance confluence By anilpanchal7 GBPJPY Technical Analysis TrendFollowing ChartPatterns Crosses
Baca lebih lajut »
EUR/USD renews 22-month low near 1.0850 as Ukraine woes escalate, US inflation, ECB eyedEUR/USD renews 22-month low near 1.0850 as Ukraine woes escalate, US inflation, ECB eyed By anilpanchal7 EURUSD RiskAppetite Ukraine Inflation CentralBanks
Baca lebih lajut »
Local Volunteers, Protestors Raise $20K In Continued Support For Ukraine SundayAttendees were able to put together 5,000 first aid kits on top of the money raised. All of the proceeds from Sunday's gathering will be used for humanitarian and military aid in Ukraine.
Baca lebih lajut »
Manchin supports leaving Ukraine no-fly zone an option, banning Russian oil imports despite soaring inflationSen. Joe Manchin, D-W.Va., said Sunday he believed the option of declaring a no-fly zone above Ukraine should not be taken off the table, a move that NATO allies so far have avoided despite repeated pleas by Ukrainian President Volodymyr Zelenskyy due to the risk of broader conflict with Russia.
Baca lebih lajut »
GBP/USD bounces off YTD low, lacks follow-through amid Russia-Ukraine jittersGBP/USD bounces off YTD low, lacks follow-through amid Russia-Ukraine jitters By HareshMenghani GBPUSD RussianFederation Ukraine RiskAversion Currencies
Baca lebih lajut »