GBPJPY will continue to grow in the following days
GBPJPY climbed to fresh year-to-date (YTD) highs at 174.68 before a pullback that dragged the exchange rate toward the 174.10s area. A risk-on impulse caused expectations for a dovish US Federal Reserve (Fed) amongst geopolitical issues like the US debt-ceiling resolution underpinned high beta currencies. Therefore, safe-haven peers persisted pressured, as the GBP/JPY traded at 174.12, up 0.18%.
GBPJPY has been in a fairly unbroken uptrend since late March and today traded at its highest level since February 2016. With the Bank of Japan continuing to keep monetary policy loose, further gains in the pair may be seen in the weeks ahead. The chart is positive with 175 and 177 attainable levels. Care should be taken over commentary from the BoJ as they have a track record of verbal intervention when the Yen weakens excessively.
GBPJPY BUY 174.1 - 171.1 💯💯
✅𝖳𝖯1 177
✅𝖳𝖯2 180
✅TP3 183
🛑𝖲𝖫 168.0
GBPJPY has been in a fairly unbroken uptrend since late March and today traded at its highest level since February 2016. With the Bank of Japan continuing to keep monetary policy loose, further gains in the pair may be seen in the weeks ahead. The chart is positive with 175 and 177 attainable levels. Care should be taken over commentary from the BoJ as they have a track record of verbal intervention when the Yen weakens excessively.
GBPJPY BUY 174.1 - 171.1 💯💯
✅𝖳𝖯1 177
✅𝖳𝖯2 180
✅TP3 183
🛑𝖲𝖫 168.0
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