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19 Dec, 2024
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:
Morgan Stanley UK economists said the Bank of England may signal further interest rate cuts at Thursday's interest rate decision after the UK releases inflation data for November. UK monthly core inflation was flat, below investor expectations, as services sector inflation slowed. Lower-than-expected core inflation could prompt the Bank of England to signal more interest rate cuts in the coming months than markets expect.

Trend Analysis:
We can see GBP/USD rebounded from an oversold state and ran below the 48 hours moving average on H4 chart. In addition, the MACD double line and energy bar expand near the zero axis. The sell limit could be placed, stop loss is necessary.

Today's Key Price Levels:
Key Support Levels: [1.2490]
Key Resistance Levels: [1.2670]
Pivot Points [1.2630]

 

 

2. USD/JPY Analysis:

News Summary:
Thursday's Bank of Japan meeting seems to be potentially variable. The market consensus is to keep interest rates unchanged, but a considerable number of people expect to raise interest rates. Economic fundamentals, particularly the virtuous cycle between wage and price growth, support continued normalization of monetary policy, the question is when. Markets have lowered expectations for a rate hike in December after recent media reports on the Bank of Japan's potential stance ahead of the meeting.

Trend Analysis:
We can see USD/JPY H4 level rebounded again and ran above the 48 hours moving average. On the other hand, the MACD energy column and double line have a golden cross above the zero axis. The buy limit could be used, stop loss is mandatory.

Today's Key Price Levels:
Key Support Levels: [154.00]
Key Resistance Levels: [156.70]
Pivot Points [154.80]

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