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Gbpjpyanalysis

GBPJPY Long Bullish potentially upside to 209 YenGBP/JPY inflation Yields In my previouse analysis(Click onthe chart, and read it, I mentioned I am forecasting GBPJPY Rising high what already happened... GBPJPY RISING HIGHER ON MORE BUYING PRESSURE LONG GBP/JPY: On the way toward the 2015 high GBP/JPY’s break above the October high of around 172.00 has opened the door toward the 2015 high of 196.00 in the coming weeks/months. In the near term, however, the cross looks a bit overbought. Hence some sort of consolidation/minor retreat can’t be ruled out. The broader upward pressure is unlikely to fade away while the cross holds above the 89-day moving average The Bulls took control to buy GBP at 136.50 from there the market excessively made Higher Highs and Higher Lows. The best is that all this mechanism has been confirmed,one after each other. Look on the chart above: i HAVE MARKED SOME PHASES OF THE MARKET with yellow cirlcles: The circles are on the lows (Bar chart) and on the lows of RSI(below). Ususually the momentum oscillators follow the market´s motion, meaning if the market makes higher highs and higher lows, the RSI rises and follows, and vice versa. On the ba chart the market makes higher highs and higher lows, but on the maked position(See RSI) the RSI suddenly makes lower lows,and breaks down the previouse low. This is a powerfull indication that the bull trend is active,better:RSI lower lows represent and confrim that the trend will continue. Currently the price is at 179,084whil GBPYEN is correcting, but even if the market comes down(in worse case to 155(unlesse it does not break 147, the trend is bullish... This are marvellouse situations, where we can time our buying positions. The corrections are just the results of some profit takings, but most importantly the buyers will distibute their buy positions and maintain the supports more stronger. For instance as the market came down to 147 the buyers baught massively GBP and very agressively. So they will also defend this zone very agressively and powerfull in the future. The resistance at around 184 will be very weak, as now more buying deltas and volume are shifting higher. So we have higher highs and higher lows, we have rising POCs, we have shifting volme higher, we have rising supports, and they all are at the previouse pocs. My further forecast is: If GBP breaks fast 184, we will go to 194,55 and then to 209,582. If the market comes down, we will find triple supports at 162.170 and 173. From here we can time to buy the dips. Below 147 GBP will lose value vs Yen and will go to 135,132,125,120. Fundamentally GBP and majors, but also other currencies are gaining weight vs Yen. The British pound initially tried to rally a trading session on Tuesday, but then gave back gains to show signs of weakness. All things being equal, it looks like the ¥180 level continues to offer support. The British pound has initially tried to rally during the trading session on Tuesday, but gave back gains almost immediately to slam into the ¥180 level. However, the market has turned around to show signs of support yet again, and now it seems like we are just slamming around. With this being the case, it will be interesting to see how this plays out, but I do think that we have the potential for some type of explosive move. Keep in mind that the Bank of Japan is the most dovish central bank out of all of the major powers, so that does continue to put a lot of negativity into the Japanese yen. Furthermore, we are in a massive bullish run, and I think that continues to be a situation where you cannot fight the momentum. All things being equal, this is a market that I think continues to see a lot of noisy behavior, but I would be a buyer of dips as they offer value. Another thing that helps the market rally at this point is the fact that the British pound has been very strong for a while, and inflation in the United Kingdom continues to see a lot of pressure, therefore it looks like the Bank of England will continue to be very hawkish. All things being equal, I think this continues to be a “buy on the dips” scenario, and the situation continues to be one that you will have to be cautious. After all, the volatility will be a major issue that you will have to deal with, with the ¥184 level as an area that has been massive resistance, and then the ¥185 level would be the next target. All things being equal, I do think that we see a lot of noise, so therefore keep your position size reasonable but I still favor the overall upside, as the market will continue to see plenty of upward pressure, due to the fact that the situation continues to be one that the buyers certainly have control over the longer-term, but it also continues to be more noise than anything else. Fundamentals GBP/JPY takes offers to refresh intraday low down for the third consecutive day. UK CPI pushes back hawkish BoE bias by falling to 7.9% YoY in June. Dovish comments from BoJ’s Ueda, market’s cautious optimism previously favored GBP/JPY bulls. Risk catalysts, Japan inflation will be crucial to watch for clear directions. GBP/JPY reverses the day-start recovery towards refreshing the intraday trough to around 180.80 amid early Wednesday morning in London, justifying the unwelcome prints of the UK inflation. Adding strength to the downside bias are the weaker Treasury bond yields. However, the market’s cautious optimism and dovish bias surrounding the Bank of Japan (BoJ) prod the cross-currency sellers of late. UK inflation per the Consumer Price Index (CPI) slides to 7.9% YoY in June versus 8.2% expected and 8.7% prior. More importantly, the Core CPI defies the 7.1% market forecast and previous readings by declining to with 6.9% YoY figures for the said month. With this, the hawkish bias about the Bank of England (BoE) remains doubtful and drowns the GBP/JPY during the three-day losing streak. On the other hand, Bank of Japan (BOJ) Governor Kazuo Ueda spoke at a news conference after the G20 meeting in India on Tuesday while stating that there was still some distance to sustainably achieve the 2% inflation target, defending the easy-money policy in turn. It’s worth noting that fears surrounding Japan Prime Minister (PM) Fumio Kishida’s cabinet reshuffle and pessimism among the big industrial houses from Tokyo weigh on the Japanese Yen (JPY) and challenge the GBP/JPY bears. Elsewhere, the market sentiment remains cautiously optimistic amid the upbeat performance of the equities backed by the positive mood at the banks, as well as China headlines, which in turn puts a floor under the GBP/JPY prices. While portraying the mood, Japan’s Nikkei 225 rises more than 1.0% and the S&P500 Futures remain sidelined at the yearly high. However, the US 10-year and two-year Treasury bond yields stay pressured at 3.76% and 4.74% by the press time and prod the GBP/JPY bulls of late. Having witnessed the initial market reaction to the UK inflation data, the GBP/JPY pair traders should watch the risk catalysts ahead of Friday’s Japan inflation statistics and British Retail Sales. However, aggressive tightening could dent prospects for next year, raising the risk of a recession, and undermining the overbought GBP. On the other hand, the recent stimulus measures in China could help cushion some of the downside risks to economic growth in the world’s second-largest economy, providing a tailwind to European growth
Long
by DaveBrascoFX
8
GBPPJPY Long Term SELLING Trading IdeaHello Traders In This Chart GBPJPY HOURLY Forex Forecast By FOREX PLANET today GBPJPY analysis 👆 🟢This Chart includes_ (GBPJPY market update) 🟢What is The Next Opportunity on GBPJPY Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
Long
by ForexPlanet20
GBPJPY - Short active ✅Hello traders! ‼️ This is my perspective on GBPJPY. Technical analysis: I expect bearish price action here as we can see that price took out buy stop liquidity and rejected from institutional big figure 184.000. This is a risky short as it is against market structure, but I assume it. Fundamental analysis: Tomorrow will be released monthly GDP on GBP and if the result is negative, it will support our analysis. Like, comment and subscribe to be in touch with my content!
Short
by Snick3rSD
6