The GBP/JPY chalked in another red bar to settle Friday, bringing the pair back into range of the week's lows set on Monday near 181.25, and the closing bell finds the Guppy trading into 181.60.
The pair spent the first half of the trading week on the climb, tapping into four-week highs at 183.82 before market turned broadly risk-off and sent the Pound Sterling...
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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)...
In Tuesday's session, the GBPJPY gained ground and jumped to 182.50, but the daily chart's bullish momentum appears weak.
In line with that, the GBPJPY has a neutral to bearish technical stance, with the bears gradually recovering and asserting themselves. Despite the Relative Strength Index (RSI) maintaining a positive slope above its midline, bulls appear not...
Barclays (LON:BARC) analysts issued a warning on Thursday about the challenging future facing global bonds, unless stock markets fall significantly. They point to several factors contributing to this outlook, including the US central bank's quantitative tightening program and rising budget deficits.
Analysts also noted a shift by Japanese investors to domestic...
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GBP/JPY Price Analysis: Oscillating below Kumo, with buyers eyeing 181.60
🐡 GBP/JPY temporarily halted its downward trend on Thursday and recorded a gain of over 0.50% in a day that saw the pair move from around 179.56 to a closing level of 180.92. As of writing this, at the start of the Asian...
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.
Hello, according to my analysis of the gbpjpy pair, there is a high possibility of a downside. The price broke the double button pattern. With a very large red negative candle. It indicates the strength of the sellers. We also notice the rapid return to the bullish channel as shown in the analysis, but it could not get out of it. In the coming days, we expect a...
Short term: GJ seems to be following the downtrend
But below, GJ has a Quasimodo liquidity zone forming.
It looks like this area is quite solid.
To create a clear uptrend, we need GJ to at least be able to break above the Sellzone.
Plan :
Canh buy: 179.55 and 178.8.
Canh sell: 182,995/ 183,675
If Sell picks up first, the Buy bet is still valid.
If Buy picks up...
Pair : GBPJPY ( British Pound / Japanese Yen )
Description :
Symmetrical Triangle in Short Time Frame as an Corrective Pattern and it has Breakout the Lower Trend Line and Completed its Retest it will Reject from Lower Trend Line of Corrective Pattern " Falling Wedge " in Long Time Frame or Fibonacci Level - 61.80%
The GBP/JPY pair slid to a new five-week low after touching 182.51 on Thursday, falling off 184.00 in the final trading session of the week.
The British Pound (GBP) has struggled to develop further momentum against the Japanese Yen (JPY) recently, with the Guppy marking a move towards the 50-day Simple Moving Average (SMA) after failing to maintain maintained the...
As long as 185.76 resistance holds, further decline is expected in GBP/JPY. Break of 182.66 will resume the fall from 186.75. Sustained trading below 55 D EMA (now at 182.39) will argue that it’s already in a larger scale correction and target 176.29 support next. On the upside, break of 185.67 resistance will indicate that the pull back from 186.75 has completed....
The BoE has actually adopted a more cautious stance recently, as is clear from Governor Andrew Bailey's statement that the central bank is approaching the peak of its interest rate hike cycle. Despite persistent inflationary pressures, the BoE faces a delicate balancing act, as being too aggressive with interest rate hikes could endanger the UK economy.
SELL...
The GBP/JPY pair is on track to end the day close to its starting point, as market fluctuations caused the Guppy to trade back and forth due to changing sentiment. Traders of Pound Sterling (GBP) are preparing for a data-heavy economic calendar in the United Kingdom (UK) during the first half of the week. Meanwhile, broad-market support for the Yen (JPY) has...
