Back
11 Mar 2015
JPY and GBP to face weakness in the near-term – Kshitij Consultancy
FXStreet (Barcelona) - The Kshitij Consultancy Team views that with USD/JPY and GBP/USD trading close to crucial resistance and support respectively, the pairs might witness weakness in the near-term.
Key Quotes
“Dollar-Yen (121.37) has come back from an intra-day high to 122.02 yesterday, but may still eventually rise towards the long-term Resistance near 123.”
“The Pound (1.5067) has been relatively stable yesterday. The long-term Support at 1.4970 is still quite valid."
“In other words, while the Yen and Pound can both see some weakness in the near/ medium term, they are coming close to longer term Resistance/ Support respectively.”
Key Quotes
“Dollar-Yen (121.37) has come back from an intra-day high to 122.02 yesterday, but may still eventually rise towards the long-term Resistance near 123.”
“The Pound (1.5067) has been relatively stable yesterday. The long-term Support at 1.4970 is still quite valid."
“In other words, while the Yen and Pound can both see some weakness in the near/ medium term, they are coming close to longer term Resistance/ Support respectively.”