**Monthly Chart**
Last month candle closed a bullish after creating manipulation monthly candles. On a monthly chart it gives a clear indication that GBPJPY is approaching the high of June 2015 at around 195.88 - 196.00 levels.
This month (April 2024) candle opened from the close of the previous candle and started running towards the high of June 2015. We should pay close attention to JPY pairs in line with the BOJ Policy rate, Monetary Policy Statement, BOJ Outlook report, and Press Conference that will happen on 26th April 2024.
**Weekly Chart**
The price is aggressively moving towards June 2015 record high. The trend is still bullish but with the upcoming news release on Friday, there will be a big reaction near that level at around 196 area. This will set a clear direction for next month as well.
**Daily Chart**
After testing the relative equal lows on a daily chart for the third time, GBPJPY is moving toward the June 2015 high and I expect the market to have a strong reaction toward that level in line with BOJ news event on 26th April. We will pay close attention to market reaction around that level. This could be a counter-trend trade with a target to break the equal daily lows and move aggressively lower below 190 level.
Last month candle closed a bullish after creating manipulation monthly candles. On a monthly chart it gives a clear indication that GBPJPY is approaching the high of June 2015 at around 195.88 - 196.00 levels.
This month (April 2024) candle opened from the close of the previous candle and started running towards the high of June 2015. We should pay close attention to JPY pairs in line with the BOJ Policy rate, Monetary Policy Statement, BOJ Outlook report, and Press Conference that will happen on 26th April 2024.
**Weekly Chart**
The price is aggressively moving towards June 2015 record high. The trend is still bullish but with the upcoming news release on Friday, there will be a big reaction near that level at around 196 area. This will set a clear direction for next month as well.
**Daily Chart**
After testing the relative equal lows on a daily chart for the third time, GBPJPY is moving toward the June 2015 high and I expect the market to have a strong reaction toward that level in line with BOJ news event on 26th April. We will pay close attention to market reaction around that level. This could be a counter-trend trade with a target to break the equal daily lows and move aggressively lower below 190 level.
Comment:
GBPJPY still have potential to reach 2008 Crisis swing high before dropping to the downside. We will bee looking for a setup to sell this pair because it has a potential to drop for more than 700 pips to the downside.
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