Get started
British Pound / Japanese Yen
Long

GBPJPY → The Yen continues to weaken. Target 197.0

By RLinda
Updated
GBPJPY is testing trend support, but buyers are keeping the price away from risk zones. The currency pair is returning to the bullish zone relative to 193.5, which generally opens up the market to 195.0-197.0 upside potential

snapshot

On W1, the currency pair after a false breakdown of global resistance is moving back to 195.844, which generally tells us about the strength of buyers. Interventions by the central bank of Japan played a short-term role and the news leverage has exhausted itself. Traders continue to put on short positions and still sell the national currency, which in general only strengthens the pound against the yen.
Consolidation above 193.5 confirms the bulls' intentions to continue the growth.

Resistance levels: 194.15, 195.56, 197.38.
Support levels: 193.54, 193.0

A retest of the local resistance at 194.15 is being formed. A breakdown and consolidation above this level will cause further growth towards the previously mentioned targets.

Regards R. Linda!
Trade active
Consolidation is forming above the key level. The pair is preparing to go higher
Trade active
The first goal can be achieved in the near future
Trade active
The bullish momentum is actively developing, while the yen continues to weaken. Traders are betting that the national currency of Japan may lose a few percent in the near future
Trade active
snapshot
Trade active
Trade active
snapshot
Trade closed: target reached
Interim goal achieved
The currency pair may reach the key target next week
Trade active
There is an important level of 195.56 ahead. A pullback or consolidation before further growth is possible.
Prospective target 197.4
Trade closed: target reached
Trade active
snapshot
Note
The target of 197.38 is almost reached
Price is testing the channel resistance and in general, part of the order can be closed
Trade closed: target reached
Note
Weakness in the Japanese Yen prevents the greasy pair from falling far. A retest of resistance is forming
Trade closed: target reached
The end target has been reached
Note
Currency pair continues to strengthen
The main target of 200.56 may be reached in the nearest future, which may be followed by a pullback.
Ascending ChannelChart PatternsDXYFundamental AnalysisGBPGBPJPYGBPUSDjpySupport and ResistanceTrend AnalysisTrend Line BreakUSDJPY
RLinda
🌹TRADING is a CASINO💔!?

NO‼️

You❗️CAN and ❗️SHOULD make money in trading!

Join me, I'll guide you to PROFITABLE TRADING💵!

🟢Free Telegram Channel:
t.me/RLindaTrade

🔴Contact:
t.me/RLindaSignals

🧿Web: rlinda.com
Also on:

Related publications

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.