23rd November 2021 Technical Analysis

GBPJPY

EURUSD climbs on Monday, and the technical bias is bullish due to higher highs in the recent horizontal trend.

The pair is currently trading near 153.822，and multiple resistance levels can be seen above which may prevent the price from rising further.

Resistance level 1: 153.950

Resistance level 2: 154.150

Resistance level 3: 154.350

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

Support level 1: 153.650

Support level 2: 153.450

Support level 3: 153.200

Today, UK will announce the Markit composite PMI data for November. Higher data indicate favourable to the pound, so it is bullish for the GBPJPY currency pairs, and vice versa.

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

USDJPY

USDJPY climbs on Monday, and the technical bias was bullish due to higher highs in the recent uptrend.

The pair is currently trading near 114.847，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

Today, the U.S will announce the November Markit manufacturing PMI data. Higher data indicate favourable to the U.S dollar, so the USDJPY currency pair is bullish, 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.