Today, traders will depend on dollar sentiment, risk appetite and bond market developments. There are no significant data published in Europe:
14:00: Switzerland's October trade balance data
17:15: BOE policymakers will testify before parliament on monetary policy, inflation and the UK's economic outlook
GBPJPY is in a very strong uptrend when we look at the monthly time frame and the weekly time frame. We have seen some sort of bearish correction in the previous two months (July and August)
which is a good signal to find an entry to the upside. The daily time frame also just trend bullish , this can be seen from the breakout of the symmetrical triangle/or...
The pair looks like it's ready to move down again after some consolidation at this levels. The upside should be fairly capped for this pair.
BEAR CASE
We could see price test 153.5 before more downside.
BULL CASE
On the daily, the 200MA at 152 may serve as suspport for a storng rebound, if this plays out we will look for a short at much higher levels.
Price looks like its headed towards the 4hr trendline and 61.8% level on the Fibonacci also showing a break and retest of the 140.000 level. If price fails to break the counter-trendline within the 4hr trendline then price will head down towards the daily trendline.
Overall, GBPJPY has been in an uptrend. We saw a huge pullback on Friday and then it continued push up again. GBPJPY will have another pullback during the London session to the previous Resistance Level around 139.900 and then continue to go up with the uptrend. Let me know your thoughts below and like this if you agree
GBP/JPY tested the key-resistance at 133.19 but failed to break above in the first attempt, but after a minor correction, a second and more successful attempt should be seen. A break above key-resistance at 133.19 will shift the currently alternate count to the preferred count and this outcome looks possible towards Major Resistance 135.10
In the short-term,...
We broke and retested a big Daily resistance level as support. We haven't closed a daily candle over this level so its to early to tell but if this price action continues I would expect us to hit the Target Area.
FX:GBPJPY : After huge daily bullish candle last expecting GBPJPY to continue the bullish run through out this week. Today can be bearish candle close but tomorrow it should take off.
E: Above 145
SL : 143.75
TP : 148.35
Hi guys here is what I see at the moment
pound yen could either hit long strong with a great rr or hit short where then I would wait and see what happens let me know what you think
Cheers
Kris
