FX:GBPJPY price consolidated and it is time to extract from that consolidation phase, we are now targeting 190 price region which will be crucial to look around that area. Entry now with accurate stop loss can be a good option to buy swing and take advantage this trade.
trade smart not emotionally,
The British pound has rallied during the trading session on Monday, reaching the top of the short-term consolidation region that we have been in. With this being the case, the market is likely to continue seeing more of a “buy on the dip” attitude as the interest rate differential between the 2 economies and currencies is big enough to warrant the “carry trade.”...
The International Monetary Fund (IMF) has warned that China's weak recovery and the possibility of a prolonged real estate crisis could further impact Asia's economic outlook. The IMF has reduced its growth estimate for Asia in 2024 to 4.2%, down from the 4.4% forecast in April and the 4.6% forecast for this year, according to the Outlook report. World Economy...
Because the interest rate difference between the US and Japan is still large, the sell-off of the yen in the market continues to accelerate despite the BOJ's decision to maintain loosening yield curve control.
GBPJPY had a very explosive bullish week last week. So this week I'm waiting to see if price will pullback to provide an entry before potentially heading back up again.
Please use your own risk tolerance and analysis before following this trade idea.
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We expect further downside on this pair, signalled by the false breakout of the descending channel pattern. We can also see the testing and closing below of price the key level which further supports our directional basis.
In This Chart GBPJPY HOURLY Forex Forecast By FOREX PLANET
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We expect further upside on this pair which is signalled by the breakout of the descending channel pattern. We can also see the formation of a new high and a breakout of a key level which further supports our directional basis. Entry on the retest of the key level.
GBPJPY remains choppy from a price action perspective with higher highs followed up by lower lows. Much like USDJPY both bulls and bears seem to lack conviction at this stage with the descending trendline growing more vulnerable with each retest.
As its stands and barring any intervention a break above the trendline is growing more and likely as the 100-day MA...
♦️ Wage pressure in the UK eases, the pound weakens compared to the euro and dollar
🔹 Oil prices stabilized thanks to hopes that the US will ease sanctions on Venezuela
① Oil prices stabilized on Tuesday after falling more than $1 on Monday. US crude oil is currently trading around 86.95 USD/barrel, down about 0.1%. Markets expect the US will ease sanctions on...
A massive Head & Shoulders formation on the Weekly chart (and, obviously, on the daily), forecasting a -9% plummet in this pair upon completion . (I.e. It will have to break down, first!)
There are a host of reasons why a total break down in this pair would be fundamentally justified, as well, but to highlight a few, in lead words:
- Cheap continental (EU)...
GBP/JPY trading steady near 180.00 after nearly 300 pip drop, rumors of BoJ intervention
The GBP/JPY pair was completely devastated at the start of Tuesday, plummeting nearly 300 pips within 60 seconds to only 178.00. Market participants speculate that the Bank of Japan (BoJ) intervened in the global currency market to protect the Japanese Yen (JPY), but...
dear traders, hope you had a great weekend, now back to the business , we are expecting price of GBPJPY to reach the top in coming days, as the JPY will continue the bearish trend. GBP however, it is yet to be bullish as long as DXY remain extremely bullish. It will be hard for the prices to have strong bullish price action.
GBP/JPY technical outlook
The GBP/JPY is struggling to keep itself above the 200-hour Simple Moving Average (SMA) currently marked in at the 182.00 handle, and intraday action sees the pair getting hung up on the 34-hour hour Exponential Moving Average (EMA).
Daily candlesticks sees the Guppy hung up between the 34-day EMA and the 100-day SMA at 182.93 and...