24th November 2021 Technical Analysis

GBPJPY

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

The pair is currently trading near 154.048，and multiple resistance levels can be seen above which may prevent the price from rising further.

Resistance level 1: 154.200

Resistance level 2: 154.450

Resistance level 3: 154.730

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

Support level 1: 153.750

Support level 2: 153.550

Support level 3: 153.300

On Thursday, BOE Governor Bailey will release a speech on the current monetary policy. Being Hawkish indicates favourable to the Pound, so it is bullish for the Pound-Yen currency pair, 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.

EURUSD

EURUSD drops on Tuesday, and the technical bias was bearish due to lower lows in the recent downtrend.

The pair is currently trading near 1.12458，and multiple resistance levels can be seen above which ay prevent the price from rising further.

Resistance level 1: 1.12600

Resistance level 2: 1.12850

Resistance level 3: 1.13100

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

Support level 1: 1.12320

Support level 2: 1.12150

Support level 3: 1.12000

Today, Germany will announce the November Ifo business climate data. Higher data indicate favourable to the Euro, so the EURUSD 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 EURUSD currency pair near the current level.