17^th November 2021 Technical Analysis

GBPUSD

GBPUSD fluctuated on Tuesday, and the technical bias was bearish due to lower highs in the recent downtrend.

The pair is currently trading near 1.34207，and multiple resistance levels can be seen above which may prevent the price from rising further.

Resistance level 1: 1.34400

Resistance level 2: 1.34720

Resistance level 3: 1.35200

Below the price, multiple support levels can be seen which may prevent the price from falling.

Support level 1: 1.34000

Support level 2: 1.33700

Support level 3: 1.33400

Today, the UK will announce data on the inflation of October. Higher data indicate favourable to the pound, so the GBPUSD currency pair is bullish, and vice versa

Looking at the current price trend and economic development, it may be a good trading choice to sell the GBPUSD currency pair near the current level.

USDJPY

USDJPY rose on Tuesday, and the technical bias is bullish due to higher highs in the recent uptrend.

The pair is currently trading near 114.918，and multiple resistance levels can be seen above which may prevent the price from rising further.

Resistance level 1: 115.050

Resistance level 2: 115.250

Resistance level 3: 115.500

Below the price, multiple support levels can be seen which may prevent the price from falling.

Support level 1: 114.700

Support level 2: 114.500

Support level 3: 114.300

On Friday, Japan will announce the inflation date for October. Higher data indicate favourable to the Yen, so the USDJPY currency pair is bearish, and vice versa.

Looking at the current price trend and economic development, it may be a good trading choice to buy the USDJPY currency pair near the current level.