In focus today In the euro area, focus turns to data on credit growth for October. Loan growth to non-financial corporations increased to 2.1% y/y in September but the momentum has lowered recently in a signal of a smaller boost to economic activity. In Denmark, retail sales for October are released. Our Spending Monitor showed […]
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Daily Pivots: (S1) 205.92; (P) 206.56; (R1) 207.85; More… Intraday bias in GBP/JPY is back on the upside with break of 206.84 temporary top. Current rally from 184.35 should target a retest on 208.09 high. Firm break there will confirm larger up trend resumption. On the downside, below 205.29 minor support will turn bias neutral […]
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Daily Pivots: (S1) 205.92; (P) 206.56; (R1) 207.85; More… Intraday bias in GBP/JPY is back on the upside with break of 206.84 temporary top. Current rally from 184.35 should target a retest on 208.09 high. Firm break there will confirm larger up trend resumption. On the downside, below 205.29 minor support will turn bias neutral […]
The post GBP/JPY Daily Outlook appeared first on Action Forex.
German consumer morale picked up a little heading into the holidays with GfK noting that “consumer sentiment is currently at almost exactly the same level as last year”. Adding that while it does “show a certain stability in consumer sentiment”, the flip side is that “it shows that consumers do not expect a drastic recovery in the short-term”. In terms of economic expectations, that is seen sliding back down to -1.1 from 0.8 in October.
This article was written by Justin Low at investinglive.com.
Daily Pivots: (S1) 180.67; (P) 181.07; (R1) 181.84; More… Intraday bias in EUR/JPY remains neutral and more consolidations could be seen below 181.98. Deeper retreat cannot be ruled out, but downside should be contained by 178.80 resistance turned support to bring another rally. On the upside, break of 181.98 will target 100% projection of 161.06 […]
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