GBP/JPY  trading for …..

upside is 185.06 and 185.45

with the downside potential of

184.46 and 184.15  below that it would check 183.85

As per the monetary police speech is concerned visit the following link to read the full report in detail.

“Japan’s Economy and Monetary Policy” (Speech at a Meeting with Business Leaders in Nagoya)  (30/11/2015)

Earlier this week, Saudi Arabia sent indications that it could consider adjusting its price and production forecasts in an effort to stabilize global energy markets. Last November, OPEC rattled markets worldwide when it left its production ceiling above 30 million barrels per day. The position triggered an extended battle with U.S. shale producers for market share, flooding markets with a glut of oversupply. As a result, crude futures have slumped by more than 40% over the last year spending the majority of 2015 near lows not previously seen since the Financial Crisis.

upside correction of 43.60 and 44.75 where as a

down side of 40.80 and further low of 39.00 is likely .

After a low liquidity on thanks giving day EUR/USD some how managed to stay above 1.0600 level.

giving us the following levels for today

upside of 1.0642 and 1.0667

while on the down side it is still holding the level of  1.0571 break below this level would lead to 1.0525 level.

GBP Second Estimate GDP q/q  to be released today . Though the chances of it being unchanged are likely it is expected to create some movement in the market. Not to forget most of the date released in the month of NOVEMBER was discounted by the market as there is an increased expectation of US rate hike.

Never the less the first week of DEC is full of surprise and to look out for.

As of now GBP/USD is trading at 1.5091 with very low liquidity in the market.

levels to look out for today

upside of 1.5123 and 1.5152 a break above this level would lead to 1.5186

downside of 1.5065 a break below this level would lead to 1.5027.

IT seams that the Geo-political tension took the breath out to EUR as eur/usd went down to check the 1.0565 level.

yesterday loss was some how recovered in the last US trading session when eur/usd manged to climb back to 1.0640 level, at present it is at 1.0617. what to expect today?

upside of 1.0655 and 1.0688 break above this level would lead to 1.0722.

down side level 1.0580 and 1.0555. a break below this level would open doors for 1.0520.

As of today US banks will be closed in observance of Thanksgiving Day which may lead low liquidity in the mkt.

A trading range between 1.0580 to 1.0645 is possible today.

In the recent ECB wires it been decided that the QE program is set to halt till last week of DEC 2015.

Thus the technical levels for EUR/USD are as follows

upside target of 1.0690 and 1.0723 a break above this level would open the door for 1.0755 and above.

down side target 1.0645 and 1.0607 a break below this level would leave us with the possibility of 1.0555

But as for today we expect the EUR to gain some strength and stay on the buy side.

TECHNICAL LEVELS FOR GBP/USD.

CABLE clearly feeling the pressure after loosing the last week attempt to climb the 1.5335  mark.

yesterday low of 1.5124 indicating that more down side is possible to this selling. leaving us the the following technical levels to look out for,

up side of 1.5184 and 1.5220 closing above 1.5220 could take cable to 1.5288 levels.

but the sellers are active and a long seem difficult at this level unless an upset in US GDP figures.

down side targets are 1.5095 and 1.5045  a break below this level could drag pound to 1.4900 level to test the April 2015 lows.

EUR/USD managing to bounce off the yesterdays low of 1.0592 and closing the day above 1.0600 level.

The main attraction for today is US GDP which is expected to rise by 0.5% from the previous 1.5%.

technical levels to watch out for today

High of 1.0675 and 1.0710 a break above could add more to pip to the upside .

low 1.0590 and 1.0555  a break below could open the doors for 1.0462 which would be the low for march 2015.