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24 Jan, 2025
5 minutes

Daily Technical Analysis:GBP/USD、USD/JPY

Welcome to our daily technical analysis of the financial markets, focusing today on GBP/USD and USD/JPY. Let's dissect the latest news, market trends, and crucial price levels to watch out for.

1. GBP/USD Analysis:
News Summary:
Analysts at Swissquote Bank pointed out that the pound may weaken further as British Finance Minister Reeves's budget proposal is questioned at the World Economic Forum. On Thursday, Reeves said she had heard criticism of her budget but had not yet proposed any serious alternatives to stabilize public finances. Investors are losing faith in Reeves' plan to stimulate growth after a budget released in October included tax increases to plug holes in public finances.

Trend Analysis:
We can see GBP/USD H4 level fluctuated upward and moved above the 48 hours moving average. In addition, the MACD double line and energy bar are expanding above the zero axis. The buy limit could be used, stop loss is necessary.

Today's Key Price Levels:
Key Support Levels: [1.2280]
Key Resistance Levels: [1.2500]
Pivot Points [1.2330]


2. USD/JPY Analysis:

News Summary:
Japanese retail investors' desire for overseas stocks is further exacerbating depreciation pressure on the yen. In addition, the Trump administration's tariffs and the large interest rate gap between Japan and the United States have increased the risk of the yen falling. Investment trusts that cater to Japanese retail investors bought a net 10.4 trillion yen of overseas stocks and funds last year, the highest level since 2015, after the government expanded the scope of Japan's personal savings account system.

Trend Analysis:
We can see USD/JPY encountered resistance and fell back and returned to the 48 hours moving average on H4 chart. On the other hand, the MACD energy column and double line has formed dead cross near the zero axis. The sell limit could be employed, stop loss is mandatory.

Today's Key Price Levels:
Key Support Levels: [153.50]
Key Resistance Levels: [156.40]
Pivot Points [155.70]

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