Every day we analyse the market trends, select the most newsworthy asset, and prepare technical analysis on it—to help you reduce risks and get prepared.

Keep EURJPY in sight

What happened earlier

EURJPY rose to a three-month high at 132.309 because the yen declined against major peers on Thursday. Today, Japanese Finance Minister Shunichi Suzuki said the government would scrutinise the fallout from recent yen declines, which he described as having pros and cons for the economy. In September, Japan’s wholesale inflation hit a 13-year high as rising global commodity prices and a weak yen pushed up import costs, putting pressure on corporate margins and raising the risk of unwanted consumer price hikes.

What the picture is now

The Bollinger Bands predict increased volatility as they begin to diverge, giving off a likely bullish signal. The RSI is above 50, pointing to a potential uptrend, while the Stochastic is the overbought zone, indicating a possible downwards correction.

What the possible outcomes are
  • In our most likely scenario, the EURJPY pair may attempt to break the first resistance level of 132.309.
  • If the pair surpasses the first resistance level, we should expect a continued surge towards the second resistance level of 133.153.
  • Conversely, it's possible to see the pair fail to break the first resistance level and regress towards the first support level of 131.479.
  • If the pair falls below the first support level, we can expect a further decline to the second support level of 130.7221.

Pay attention to GBPJPY

What happened earlier

GBPJPY reached a six-month high at 155.895 as traders hope to avoid a post-Brexit trade war with the European Union and expect the Bank of England to raise rates this year. The pound was also helped by the yen's weakness as upbeat sentiment lifted stock markets and risk-oriented currencies such as sterling.

What the picture is now

The Bollinger Bands are predicting increased volatility as they begin to diverge, giving off a bullish signal. The RSI is above 50, suggesting an uptrend, while the Stochastic indicates a possible downwards correction.

What the possible outcomes are
  • In our most likely scenario, the GBPJPY pair may attempt to break the first resistance level of 155.895.
  • If the pair surpasses the first resistance level, we should expect a continued surge towards the second resistance level of 157.682.
  • Conversely, it's possible to see the pair fail to break the first resistance level and regress towards the first support level of 154.842.
  • If the pair falls below the first support level, we can expect a further decline to the second support level of 152.984.

Stay aware of the BTCUSD movement

What happened earlier

BTCUSD reached 59,125.87 USD. The first cryptocurrency has updated its price maximum since 10 May. Meanwhile, increased demand from institutional investors caused an early rise in bitcoin value. Analysts say that in recent weeks the market has been 'actively shifting towards buyers'. Moreover, increasing the U.S. national debt and fears of a potential default might significantly boost the bitcoin price.

What the picture is now

The Bollinger Bands are spreading, which means increased volatility. The RSI, which is above 50, and the Stochastic both point to a potential uptrend.

What the possible outcomes are
  • In the most likely scenario, the BTCUSD pair may challenge the first resistance level of 59,125.87.
  • If the pair surpasses the first resistance level, the next move will be towards the second resistance level of 63,273.31.
  • Conversely, it's possible to see the pair fail to break the first resistance level and regress towards the first support level of 53,681.17.
  • If the pair falls below the first support level, we can expect a further decline to the second support level of 50,316.85.

Keep EURJPY in sight

What happened earlier

EURJPY rose to a three-month high at 132.309 because the yen declined against major peers on Thursday. Today, Japanese Finance Minister Shunichi Suzuki said the government would scrutinise the fallout from recent yen declines, which he described as having pros and cons for the economy. In September, Japan’s wholesale inflation hit a 13-year high as rising global commodity prices and a weak yen pushed up import costs, putting pressure on corporate margins and raising the risk of unwanted consumer price hikes.

What the picture is now

The Bollinger Bands predict increased volatility as they begin to diverge, giving off a likely bullish signal. The RSI is above 50, pointing to a potential uptrend, while the Stochastic is the overbought zone, indicating a possible downwards correction.

What the possible outcomes are
  • In our most likely scenario, the EURJPY pair may attempt to break the first resistance level of 132.309.
  • If the pair surpasses the first resistance level, we should expect a continued surge towards the second resistance level of 133.153.
  • Conversely, it's possible to see the pair fail to break the first resistance level and regress towards the first support level of 131.479.
  • If the pair falls below the first support level, we can expect a further decline to the second support level of 130.721.

Pay attention to GBPJPY

What happened earlier

GBPJPY reached a six-month high at 155.895 as traders hope to avoid a post-Brexit trade war with the European Union and expect the Bank of England to raise rates this year. The pound was also helped by the yen's weakness as upbeat sentiment lifted stock markets and risk-oriented currencies such as sterling.

What the picture is now

The Bollinger Bands are predicting increased volatility as they begin to diverge, giving off a bullish signal. The RSI is above 50, suggesting an uptrend, while the Stochastic indicates a possible downwards correction.

What the possible outcomes are
  • In our most likely scenario, the GBPJPY pair may attempt to break the first resistance level of 155.895.
  • If the pair surpasses the first resistance level, we should expect a continued surge towards the second resistance level of 157.682.
  • Conversely, it's possible to see the pair fail to break the first resistance level and regress towards the first support level of 154.842.
  • If the pair falls below the first support level, we can expect a further decline to the second support level of 152.984.

Stay aware of the BTCUSD movement

What happened earlier

BTCUSD reached 59,125.87 USD. The first cryptocurrency has updated its price maximum since 10 May. Meanwhile, increased demand from institutional investors caused an early rise in bitcoin value. Analysts say that in recent weeks the market has been 'actively shifting towards buyers'. Moreover, increasing the U.S. national debt and fears of a potential default might significantly boost the bitcoin price.

What the picture is now

The Bollinger Bands are spreading, which means increased volatility. The RSI, which is above 50, and the Stochastic both point to a potential uptrend.

What the possible outcomes are
  • In the most likely scenario, the BTCUSD pair may challenge the first resistance level of 59,125.87.
  • If the pair surpasses the first resistance level, the next move will be towards the second resistance level of 63,273.31.
  • Conversely, it's possible to see the pair fail to break the first resistance level and regress towards the first support level of 53,681.17.
  • If the pair falls below the first support level, we can expect a further decline to the second support level of 50,316.85.

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