Pound Versus Euro and Yen April 9th

FX Strategy Video > Currency Pairs Analysis

EUR/GBP fell again for most of the session on Friday, however we saw a bit of a hammer as this pair bounced at the end of the session. The 0.83 level gave way a few days back, and it now looks as if the level could be resistive. Selling rallies with signs of weakness and breakdowns below the recent lows is the way we will trade it.

The GBP/JPY pair fell most of the session as well, only to find support at the 129.50 area - a place that we think is the bottom of the support at the 130 round number. We think that the Yen will continue to weaken overall, and as such as looking for supportive candles to buy.

Published on 6th of April 2012
eTorro - Trading Starts Here

Start Trading Forex with up to $10,000

  • 100s Videos and FX Strategy articles
  • Advice from our FX traders
  • Practive free with using real time