GBPJPY: Thoughts and Analysis Pre-BOJ
Today's focus:
Pattern – Continuation, resistance test.
Support – 37,400
Resistance – 187.63 - 184.35
Hi, and thanks for checking out today's update.
Our focus today is on the GBPJPY pre-Bank of Japan. Looking at price, we can see it continues to trade on fast trends higher but has stalled at resistance.
The market could now be waiting to see what's next from the Bank of Japan. Will they tweak their bond-buying program? We have seen some solid volatility from past meetings. Could this be another?
We have run over two scenarios in today's video, and we will look to see what happens next for the JPY after tomorrow's BOJ meeting. Rates are expected to remain on hold, and the statement and outlook report are expected between 11:30 am and 4 pm on Tuesday this week.
Good trading.
Pattern – Continuation, resistance test.
Support – 37,400
Resistance – 187.63 - 184.35
Hi, and thanks for checking out today's update.
Our focus today is on the GBPJPY pre-Bank of Japan. Looking at price, we can see it continues to trade on fast trends higher but has stalled at resistance.
The market could now be waiting to see what's next from the Bank of Japan. Will they tweak their bond-buying program? We have seen some solid volatility from past meetings. Could this be another?
We have run over two scenarios in today's video, and we will look to see what happens next for the JPY after tomorrow's BOJ meeting. Rates are expected to remain on hold, and the statement and outlook report are expected between 11:30 am and 4 pm on Tuesday this week.
Good trading.