FX:GBPJPY   British Pound / Japanese Yen
Fundamental Analysis:- We are looking for a weaker GBP next week as CPI is expected to drop slightly y/y although this will not have a long term effect on the value of the GBP; Brexit negotiations could still weigh heavily on the GBP. There is talk of a second referendum if Parliament don't get the deal they want to leave the European Union which could effect the GBP either way. On the JPY side of the equation;- although data from Japan has not been outstanding it is more the safe haven quality of the currency that I am interested in. With the USD weakening against most major currencies investors could start looking to JPY for stability. At the current price of over 152.00 I would consider the GBP to be overvalued against the JPY

Technical Analysis:- As you can see from the chart the downside in the GBP/JPY last week was met by a 61% Fibonacci retracement where the price seems to have found resistance. I am expecting the GBP/JPY to have another leg down to retest support around the 14700 level.

Trade price :- on market open as long as it does not open above 15280 preferably between 15200 and 15230.

stop loss:- Above 15370

take profit :- 14750
EN English (UK)
EN English
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out