GBPJPY Trading Guide. Selling is not yet started.
Note : small traders should trade with money management as the pair is highly volatile.
Level to take trades for small trading account holders
Sell 182.150
Tp 181.750
Sell 187.5
Tp 187.0
Sell 190 hold for long 178.
Fundamental Analysis
When everyone is selling GBPJPY, then who is buying it and why it's going up and up without stopping ???
The answer is very simple. Big Investors and traders with technical + fundamental knowledge are not buying JPY. whenever GBP breaks resistance, retest it and start moving up. Simply buy GBPJPY. because JPY is not offering anything to investors then why investors buy JPY ???. Now you get my point. Now we will do some technical analysis.
Technical analysis
Technically the pair is showing overbought sign do expect some correction from 181.8 to 182.350, you can sell pair in this range and hold 50 pips or 500 points easily. but I am expecting bullish rally to 190 & 195 areas To be tested easily in a month or 2 month may be earlier. There we will sell from 190 and our target will be 178. I have mentioned these in the chart also. As Daily chart is bullish but showing highly overbought sign so at 190 psychological mark expect aggressive selling of the pair.
Moreover, Bank of Japan is preparing to Intervene in the Market, so when the intervene will start ??? Bank of Japan is watching USDJPY levels so therefore when USDJPY reaches 150 then they will decide a meeting to intervene again. Apart from that retailers will also plan to wait at 150-152 area and avoid buying here.
So when USDJPY reaches 150 psychological mark, expect BOJ intervene in FX market.
As GBP is also going up without any Reason, therefore GBP will likely to fall heavy against all pairs.
Level to take trades for small trading account holders
Sell 182.150
Tp 181.750
Sell 187.5
Tp 187.0
Sell 190 hold for long 178.
Fundamental Analysis
When everyone is selling GBPJPY, then who is buying it and why it's going up and up without stopping ???
The answer is very simple. Big Investors and traders with technical + fundamental knowledge are not buying JPY. whenever GBP breaks resistance, retest it and start moving up. Simply buy GBPJPY. because JPY is not offering anything to investors then why investors buy JPY ???. Now you get my point. Now we will do some technical analysis.
Technical analysis
Technically the pair is showing overbought sign do expect some correction from 181.8 to 182.350, you can sell pair in this range and hold 50 pips or 500 points easily. but I am expecting bullish rally to 190 & 195 areas To be tested easily in a month or 2 month may be earlier. There we will sell from 190 and our target will be 178. I have mentioned these in the chart also. As Daily chart is bullish but showing highly overbought sign so at 190 psychological mark expect aggressive selling of the pair.
Moreover, Bank of Japan is preparing to Intervene in the Market, so when the intervene will start ??? Bank of Japan is watching USDJPY levels so therefore when USDJPY reaches 150 then they will decide a meeting to intervene again. Apart from that retailers will also plan to wait at 150-152 area and avoid buying here.
So when USDJPY reaches 150 psychological mark, expect BOJ intervene in FX market.
As GBP is also going up without any Reason, therefore GBP will likely to fall heavy against all pairs.
