Authored by TD Markets
The global financial markets have been a hive of activity recently, with traders closely monitoring various assets for potential opportunities. In this update, we highlight the recent successes in the GER30 and CHFJPY markets and eagerly await GBPJPY to join the list of achievements.
The GBPJPY Performance
A short may be conducted with a target of 180.133 when we witness another momentum candle close below the price point of 183.056. The cautious trader awaited the price point of 182.536 before making an entry. After the break, prices started to decline, but they are still finding it difficult to lose momentum. Traders should keep a careful eye on this and exercise prudence.
The CHFJPY Performance
Throughout the whole year, the CHF has been rising versus the JPY. On this pair as well as the other JPY crosses, there appears to be resistance and a potential correction. The outside and inner trendlines have been broken, indicating that a correction is about to occur. At the price of 164.451, support was broken. At price point 162.060, Target 1 has been attained. Now let's examine Target 2 at the price of 159.497.
Read More: What are Safe Haven Currencies?
The GER30 Performance
Despite the fact that a rising wedge was broken, the price found it difficult to go towards the stated targets. Customers should take this as just another example showing that not all trade setups work out as expected since price movement can halt or even move swiftly. At point level 15265.00, Target 1 has finally been accomplished. In order to attain goal 2 at point level 14643.28, we now turn to future price action developments.
Final Thoughts On Today’s Analysis
In conclusion, the recent achievements in the GER30 and CHFJPY markets showcase the importance of careful analysis and strategic trading. While these successes are a cause for celebration, the financial markets remain dynamic, and traders must continue to stay informed and adapt to changing conditions. As we await GBPJPY's next move, the world of trading continues to offer opportunities for those who are well-prepared and patient in their approach. Watch our YouTube channel today for more analysis.
