Recovery fades near 159.50 as key DMAs, trend lines probe bulls
Share: GBP/JPY bulls struggle to keep the reins after two-day uptrend. 10-DMA, 21-DMA and two-month-old resistance line challenge immediate upside amid sluggish MACD. Bears should wait for 61.8% Fibonacci retracement breakdown. GBP/JPY makes rounds to 159.40 while fading the two-day uptrend during early Tuesday. In doing so, the cross-currency pair jostles with the […]
GBPJPY finds sellers near the 200 hour MA
GBPJPY finds sellers near the 200 hour MA The GBPJPY GBP/JPY The GBP/JPY is the currency pair encompassing the British pound of the United Kingdom (symbol £, code GBP), and the Japanese yen of Japan (symbol ¥, code JPY). The pair’s rate indicates how many Japanese yen are needed in order to purchase one British […]
GBP/USD and GBP/JPY Could Resume Increase – Analytics & Forecasts – 30 January 2023
GBP/USD is consolidating gains pace above the 1.2350 zone. GBP/JPY is also rising and might gain pace if it clears the 161.80 resistance zone. Important Takeaways for GBP/USD and GBP/JPY · The British Pound is showing positive signs above 1.2350 against the US Dollar. · There is a key contracting triangle forming with resistance near […]
GBPJPY Double Zigzag To Complete Bullish Trend
The GBPJPY currency pair is in the final part of a major triple zigzag Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ correction. The final actionary wave Ⓩ takes the form of an intermediate double zigzag (W)-(X)-(Y). The intermediate wave (W) looks completed at the writing time. And this makes the next few trading days interesting, as a bullish […]
GBP/JPY advances towards 160.00 ahead of United Kingdom Retail Sales data
GBP/JPY is approaching 160.00 as investors are still confused about forward Bank of Japan’s policy stance. Bank of England might discover a meaningful downtrend in inflation from the late spring amid tight monetary policy. Bank of Japan could look for an exit from the expansionary policy as inflation is stably rising. GBP/JPY might display a […]
Japanese Yen Price Action Setups: USD/JPY, EUR/JPY, GBP/JPY
Japanese Yen Talking Points: Recommended by James Stanley Get Your Free JPY Forecast Trends are important things in markets because it can help with biasing directional moves. While the future will remain uncertain, trends populate often and there’s usually a good reason for doing so. In the FX market, that rationale often revolves around a […]
GBPJPY: BoJ prompts strong rally
In today’s Asian trading session, the Bank of Japan announced that it kept its accommodative monetary policy unchanged, with its benchmark interest rate and 10-year government bond yield holding steady at historic lows of -0.1% and 0% respectively. The Bank also indicated that it “will not hesitate to increase easing when necessary” and that it […]
USDJPY, GBPJPY, AUDJPY Drop as Japanese Yields Swell
Japanese Yen, USDJPY, GBPJPY, AUDJPY and JGB Yield Talking Points: The Market Perspective: USDJPY Bearish Below 133; AUDJPY Bearish Below 92 A report from one of the largest Japanese Newspapers Thursday morning signaled that the BOJ will be investigating the side effects of its ultra-loose policy next week While a step back from yield curve […]