GBPJPY - FUNDAMENTALS WITH SECHNICAL BIAS
#GBPJPY
- According to the GBPJPY analysis we gave the previous day, the GBPJPY UP SIDE WAVE was moving very well in the previous days. The reason for that was, FUNDAMENTALLY JPY WRAK, GBP STRONG and BOE made an INTERVENTION. And because the MARKET SENTIMENT is STRONG. XXXJPY has been BUYing very fast since last week.
- JPY has become somewhat WEAK because VIX is slightly DOWN. Due to this, STOCKS and XXXJPY CURRENCY were slightly BUY. GBPJPY also became BUY because of that. But now there is a RISK ON BIAS. So GJ can still be BUY.
- Currently GBPJPY LONG TERM can move up to the LEVEL 179.579. Also, according to the GBPJPY STRUCTURE, it can move down to the 159.065 LEVEL to the SUPPORT LEVEL. Therefore, attention should be paid to MARKET UPDATES and MARKET SENTIMENT. A BOJ INTERVENTION MAY NOT HAPPEN AGAIN. But the MARKET should be RISK OFF again if XXXJPY SELL. Therefore, pay attention to the CURRENT MARKET SENTIMENT. gbpjpy
- According to the GBPJPY analysis we gave the previous day, the GBPJPY UP SIDE WAVE was moving very well in the previous days. The reason for that was, FUNDAMENTALLY JPY WRAK, GBP STRONG and BOE made an INTERVENTION. And because the MARKET SENTIMENT is STRONG. XXXJPY has been BUYing very fast since last week.
- JPY has become somewhat WEAK because VIX is slightly DOWN. Due to this, STOCKS and XXXJPY CURRENCY were slightly BUY. GBPJPY also became BUY because of that. But now there is a RISK ON BIAS. So GJ can still be BUY.
- Currently GBPJPY LONG TERM can move up to the LEVEL 179.579. Also, according to the GBPJPY STRUCTURE, it can move down to the 159.065 LEVEL to the SUPPORT LEVEL. Therefore, attention should be paid to MARKET UPDATES and MARKET SENTIMENT. A BOJ INTERVENTION MAY NOT HAPPEN AGAIN. But the MARKET should be RISK OFF again if XXXJPY SELL. Therefore, pay attention to the CURRENT MARKET SENTIMENT. gbpjpy
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