Daily Technical Analysis: GBP/USD, USD/JPY

Concerns over a US economic recession see the pound sliding, with key support at 1.2700, while a stronger yen causes panic selling in the Nikkei.

1. GBP/USD Analysis:
News Summary:
Last Friday's US nonfarm payrolls data fell short of expectations, raising concerns about a US economic recession. Global risk aversion caused the pound to fall. This week was supposed to be calmer for the pound, with no central bankers speaking and only a handful of secondary data coming out. However, the focus for pound traders is likely to be on broader risk conditions as US recession fears loom over the market, a scenario that could cause pound to slide.

Trend Analysis:
We can see GBP/USD fell back and returned to below the 48 hours moving average on H4 chart. On the other hand, the MACD double line and energy bar converge below the zero axis. The sell limit could be used, stop loss is necessary.

Today's Key Price Levels:
Key Support Levels: [1.2700]
Key Resistance Levels: [1.2880]
Pivot Points [1.2810]

2. USD/JPY Analysis:

News Summary:
A stronger yen will continue to weigh on the Nikkei as corporate profit margins will fall, with many businesses not expecting such a sharp and sudden rise in the yen at all. There was massive deleveraging as investors sold assets to cover losses. The speed of action caught the market off guard and there's a lot of panic selling now, which is what causes asset prices to react non-linearly to very direct fundamental dynamics.

Trend Analysis:
We can see USD/JPY rebounded from the bottom of the H4 level and gradually approached the 48 hours moving average. In addition, the MACD double line and energy bar is shrinking and forming golden crosses below the zero axis. The buy limit could be used, stop loss is mandatory.

Today's Key Price Levels:
Key Support Levels: [141.50]
Key Resistance Levels: [149.00]
Pivot Points [143.70]