The technical analysis shows that after a very strong impulse to the upside, the GBPJPY started to get rejection around the previous high reached a month ago which makes it a double top formation to support the downtrend triangle.
But we have to keep in mind that this week the fundamental analysis shows:
- JPY interest rate release 18/01/2022
- GBP Employment Change, Unemployment Change, Unemployment Rate 18/01/2022
- GBP inflation Rate 19/01/2022
- JPY Inflation Rate 21/01/2022
- GBP Consumer Confidence, Retail Sales 21/01/2022
Although the technical analysis seems very promising it is very risky to take a trade during a week with much important news.
This news can definitely affect the idea as markets get high volatility during this type of news so please be careful trading the GBPJPY during this week.
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
But we have to keep in mind that this week the fundamental analysis shows:
- JPY interest rate release 18/01/2022
- GBP Employment Change, Unemployment Change, Unemployment Rate 18/01/2022
- GBP inflation Rate 19/01/2022
- JPY Inflation Rate 21/01/2022
- GBP Consumer Confidence, Retail Sales 21/01/2022
Although the technical analysis seems very promising it is very risky to take a trade during a week with much important news.
This news can definitely affect the idea as markets get high volatility during this type of news so please be careful trading the GBPJPY during this week.
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.