Chart the Market (20/08/2026)
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Chart the Market (20/08/2026)

Published: 20 August 2026,05:33

Published: 20 August 2026,05:33

Chart The Market

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Candlestick chart of JPY pair with blue Fibonacci levels and a sharp drop followed by a recovery in early August.

USDJPY,  H4:                                                               

The USD/JPY pair has been hovering near the 50% Fibonacci Retracement level at 159.67, where the latest price action shows a clear rejection below this key resistance zone. The pair subsequently broke below its previous low near 158.59, providing a bearish technical signal and suggesting that selling pressure is gaining traction.

The breakdown below 158.59 strengthens the bearish outlook and indicates that the recent recovery may be losing momentum. Should the selling pressure continue to accelerate, USD/JPY could extend its decline toward the next key level near 157.70, where a notable liquidity zone is located.

A successful test of the 157.70 liquidity zone could potentially attract buying interest and trigger a technical rebound. However, sustained selling pressure through this area would further strengthen the bearish structure and increase the risk of deeper downside.

Resistance Levels:158.65, 159.70

Support Levels: 157.40, 156.15

EUR/USD price chart showing an uptrend with blue support and resistance lines around 1.3162, 1.3305, 1.3457 and 1.3605; blue ascending trendline from late June to August; red downward line crossing; chart points A, B, C mark pivot highs/lows; RSI and MACD panels visible below.

GBPUSD, H4

The GBP/USD pair continues to trade within a higher-high price pattern, indicating that the broader bullish structure remains intact and that buying momentum continues to support the pair.

The pair is now approaching its immediate resistance level at 1.3605, which represents the key technical hurdle for the next phase of the rally. A decisive and sustainable breakout above this level would provide further confirmation of the bullish bias and signal that buyers have gained sufficient momentum to push the pair higher.

Should GBP/USD successfully break above 1.3605, the next upside target would emerge near 1.3754. A move toward this level would represent the next leg of the current bullish trend and could further strengthen the pair’s longer-term positive outlook.

Overall, the 1.3605 resistance level remains the key level to watch. A successful breakout would open the path for further gains toward 1.3754, while a rejection at this level could lead to a period of consolidation or a short-term technical retracement. 

Resistance Levels: 1.3755, 1.3875

Support Levels: 1.3457, 1.3305

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