5th November 2021 Technical Analysis

GBPJPY

GBPJPY fell sharply on Thursday, and the technical bias is bearish due to lower lows in the recent downtrend.

The pair is currently trading near 153.706 ，and multiple resistance levels can be seen above which may prevent the price from rising further.

Resistance level 1: 154.200

Resistance level 2: 154.750

Resistance level 3: 155.250

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

Support level 1: 153.100

Support level 2: 152.600

Support level 3: 152.000

Next Thursday, the UK will announce September GDP data. Higher data indicate favourable to the pound, so it is bullish for the GBPJPY currency pair, and vice versa.

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

5th November2021 Technical Analysis

EURUSD

EURUSD fell on Thursday, and the technical bias is bearish due to lower lows in the recent downtrend.

The pair is currently trading near 1.15505，and multiple resistance levels can be seen above which may prevent the price from rising further.

Resistance level 1: 1.15620

Resistance level 2: 1.15780

Resistance level 3: 1.15980

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

Support level 1: 1.15300

Support level 2: 1.15150

Support level 3: 1.15000

Today, the United States will announce the October non-agricultural employment report. Higher number of newly created jobs indicates that it is beneficial to the US dollar, so it is negative for the EURUSD currency pairs, 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.