Forex: GBP/JPY retraces below 143.50

FXstreet.com (San Francisco) - After recovering from 142.30 to test the 144.00 level in the European session, the Sterling has been trading down against the Japanese Yen to price below 143.50 level. Currently the GBP/JPY is moving around 143.30.

Despite the previous losses, the GBP/JPY is trading positive with 0.23% gains from opening price. The GBP/JPY opened the day with a gap regarding Friday close but the pair is attempting to fill it and currently it is trading inside a slightly bullish trend according to the FXstreet.com Forex Studies.

CCI and Momentum are bullish in the 1-hour chart while the Mach and Stochastics are neutral. Next supports are at 142.30, 142.00 and 141.50. On the upside, resistances are at 143.85, 144.00 and 144.40.

Mar 18, 2013

American equity markets tumble on Cyprus

The US Stock market experienced a lower opening Monday investors digest the news surrounding Cyprus. Beginning with the indices and composites, the NASDAQ fell -0.97% as it settles in region of 3217.29, down -31.46 points in these moments. In addition, the S&P 500 is trading in negative territory, operating at 1547.32, descending -13.49 points or -0.86% at the time of writing. Finally, the Dow Jones has edged lower at the opening, trading in the zone of 14418.92, presently -0.66% after a movement of -95.92 points.

Commodities Brief – Gold retakes 1600 level, commodities rally on increased demand outlook

Gold prices rebounded Monday after an earlier setback surrounding the drama currently unfolding in Cyprus, which sent the EUR plummeting against the USD. However, the mood recently has certainly been one that gold bulls welcome, as investors increased wagers on a commodity rally by the most in eight months as signs of a U.S. economic recovery bolstered the outlook for demand. At the time of writing, the yellow has stabilized above the key psychological 1600 level/former resistance at USD $1609.60 per oz., providing a new floor, from which investors can expect a modest recovery. Though gold ultimately is trading sideways currently, the next key resistance will be eyed at 1625, as well as the buildup to the FOMC Thursday – although no change in policy is expected.