Confirming you are not from the U.S. or the Philippines

By giving this statement, I explicitly declare and confirm that:
  • I am not a U.S. citizen or resident
  • I am not a resident of the Philippines
  • I do not directly or indirectly own more than 10% of shares/voting rights/interest of the U.S. residents and/or do not control U.S. citizens or residents by other means
  • I am not under the direct or indirect ownership of more than 10% of shares/voting rights/interest and/or under the control of U.S. citizen or resident exercised by other means
  • I am not affiliated with U.S. citizens or residents in terms of Section 1504(a) of FATCA
  • I am aware of my liability for making a false declaration.
For the purposes of this statement, all U.S. dependent countries and territories are equalled to the main territory of the USA. I accept full responsibility for the accuracy of this declaration and commit to personally address and resolve any claims or issues that may arise from a breach of this statement.
We are dedicated to your privacy and the security of your personal information. We only collect emails to provide special offers and important information about our products and services. By submitting your email address, you agree to receive such letters from us. If you want to unsubscribe or have any questions or concerns, write to our Customer Support.
Back

GBP/JPY Price Analysis: The Pound breaks trendline support and tests 180.00 area

  • The Sterling breaks trendline support to test the 180.00 level.
  • The Pound looks vulnerable against a stronger Yen.
  • Below 180.00 the target will be October and November lows at the 178.10/30 area.

The Sterling has broken below the bottom of the last three weeks' triangle pattern, at 181.80, weigher by broad-based Yen strength, and is testing the 180.00 support area at the moment of writing.

A clear break below 179.90 would clear the path towards the big target, at the 178.10/30 area, the mid-December and early October lows, which would confirm the continuation of the downtrend from late November highs.
 

The 180.00 level is a significant support zone, which has capped bears several times in the last two weeks. In this sense, I would not discard a retest of the reverse trendline, around 180.85 before further decline takes place.

A bullish reaction above the mentioned trendline would ease downside pressure and set put 182.35 resistance back into play

GBP/JPY 4-hour chart


GBPJPY Chart

Technical levels to watch

 

 

Brazil Inflation Index/IGP-M above expectations (0.66%) in December: Actual (0.74%)

Brazil Inflation Index/IGP-M above expectations (0.66%) in December: Actual (0.74%)
Read more Previous

Asian FX: KRW and TWD to strengthen the most – ANZ

Economists at ANZ Bank expect KRW and TWD to be the best Asian currencies in the coming year.
Read more Next