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Gbpjpybuy

GBPJPY: Let's talk about the reasons and targets of growthConversations about the rate increase by the Bank of England in August put pressure on the GBPJPY pair and push its quotes up. The reason in general is obvious – actual and future growth of the interest rates differential. The Bank of Japan continues to adhere to the ultra-soft monetary policy and does not think to change the course in the foreseeable future. But the Bank of England, in turn raised the stake, and plans to continue doing so. Accordingly, ideal conditions are created for the birth of the carry trade, when the cash flows goes from a less profitable country to a more profitable one. In this case, from Japan to the UK. What in the future will lead to an increase in the pound's exchange rate relative to the yen. The main obstacle in this direction was and so far, remains Brexit. But judging by the latest statements of the Prime Minister of Great Britain, the Government finally decided on its choice and this is the "soft" Brexit. This option bears minimum damage to the economy of Britain. The actual opening of the pound with a gap up on Monday shows where the British currency will move if this vector of Brexit's solution is implemented. Yes, loud departure of Boris Johnson confused pound bulls (previously retired and left the British Minister for Brexit David Davis), but not for long. Progress in the negotiation process will inevitably push the British currency up. In this regard, buying a pair of GBPJPY we see a very promising trading idea. The pair, if not today, then tomorrow will reach 148. And although this is a very important level, we believe that it will be taken, and the pair will return to its medium-term range 148-152. Accordingly, the next target will be the upper limit of the range 152. It is also possible that the growth will continue up to 154. All these variants of the development of events are possible even without a serious breakthrough in the negotiation process. But if the EU and Britain will agree, then we can no longer speak of fluctuations within the range, but the formation of a full-fledged upward trend in the pair.
Long
by Trade24Fx
GBPJPY dropping nicely from resistance, potentially more bearishGBPJPY is testing major resistance at 149.86 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) and a strong reaction could occur at this level to push prices all the way down to major support at 147.14 (Fibonacci extension, horizontal swing low support). Stochastic (55,5,3) is seeing major resistance below 94% where a corresponding reaction could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill
1
GBPJPY Setting Up Nicely For A PlungeGBPJPY is right on major resistance and is setting up nicely for a plunge from here. Sell below 149.86. Stop loss at 150.76. Take profit at 147.14. Reason for the trading strategy (technically): Price is seeing major resistance below 149.86 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) and a strong drop from here could push prices all the way down to major support at 147.14 (Fibonacci extension, horizontal swing low support, Fibonacci extension). Stochastic (55,5,3) is seeing major resistance at 94% where a corresponding reaction could occur.
Short
by theforexarmy
GBPJPY testing major resistance, potential drop!GBPJPY is testing major resistance at 149.18 (Fibonacci retracement, bearish divergence, horizontal overlap resistance) and a strong drop could occur at this level to push price all the way down to major support at 147.50 (Fibonacci retracement, horizontal swing low support, Fibonacci extension). Stochastic (89,5,3) is also seeing major resistance below 96% where a corresponding reaction could occur. We’re also seeing bearish divergence vs price signalling that a strong reversal could be approaching. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill
GBPJPY going long..I feel that GBPJPY will be reaching for the stars this week for several reasons. The price is oversold on the RSI Stochastic indicator as well as a crossover of the EMA to the upside. It looks like a bull flag could be forming. Price has continued its recent uptrend since October 2016. It seems to be respecting a trendline and may be starting another take off following a pullback in February 2018. The Great Brithish Pound is looking good for the week for a positive bullish sentiment. Disclosure: *Trading foreign exchange carries a high level of risk. Trading is not for everyone and losses could easily exceed investment capital. Results are not typical. Use proper risk management and smaller lot sizes to protect accounts.
Long
by pipared1