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GBPJPY Long Term SELLING Trading IdeaHello Traders In This Chart GBPJPY HOURLY Forex Forecast By FOREX PLANET today GBPJPY analysis 👆 🟢This Chart includes_ (GBPJPY market update) 🟢What is The Next Opportunity on GBPJPY Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
Long
by ForexPlanet20
2
GBPJPY: The market is worried about Japan's foreign exchange intThe BoJ meeting will start tomorrow morning. This could be the most interesting meeting in recent times if the BoJ announces a change to its YCC policy and this could cause serious volatility in Japanese Yen pairs. After the BoJ meeting, the outlook for USD/JPY is likely to differ significantly ahead of the FOMC meeting. The Fed is expected to keep interest rates unchanged, but the focus will be on the Fed's direction in the near future and the possibility of raising interest rates in December.
Short
by TrategySherpa
GBP/USD Extends Gains Above 1.2150 Level"In the US trading session, GBP/USD rose to its highest level since last Wednesday, surpassing the 1.2170 mark. The pair was supported by a weaker US dollar on Monday, as market participants awaited US employment data, as well as the Fed and BoE meetings. The Relative Strength Index (RSI) on the 4-hour chart remained below 50, and GBP/USD closed the last 4-hour candle below the 20-period Simple Moving Average (SMA), indicating the downtrend is still intact. On the flip side, 1.2075 (a static level) is considered a temporary support before 1.2050 (the recent low) and 1.2000 (a psychological level). The 50-period SMA formed dynamic resistance at 1.2140, ahead of 1.2180 (the 100-period SMA) and 1.2200 (the 23.6% Fibonacci retracement level, and the 200-period SMA).
by Gwen_Humuna
1
GBPJPY Long Term SELLING Trading IdeaHello Traders In This Chart GBPJPY HOURLY Forex Forecast By FOREX PLANET today GBPJPY analysis 👆 🟢This Chart includes_ (GBPJPY market update) 🟢What is The Next Opportunity on GBPJPY Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
Long
by ForexPlanet20
EUR/GBP Extends Gains Near 0.8720 Ahead of German Data"EUR/GBP has continued its upward trend for the second consecutive day, trading near the 0.8720 level in early European trading on Monday. The currency pair received support ahead of significant economic data releases from Germany. However, preliminary Gross Domestic Product (GDP) data for Germany is expected to show a 0.3% decline for the quarter, with a 0.7% year-on-year decrease, compared to a 0.2% decline in the previous report. Additionally, initial forecasts for the Consumer Price Index (MoM) indicate a decrease of 0.2%, down from the previous 0.3%. Furthermore, the Euro weakened following the European Central Bank's (ECB) decision to maintain the deposit interest rate at 4.0%, reflecting concerns about the deteriorating economic outlook in the Eurozone. ECB President Christine Lagarde is navigating a delicate balance, steering the central bank through a challenging economic landscape. Maneuvering between a weakening economy and strong inflationary pressures is no easy task. With the increasing complexity of monitoring the Middle East crisis, relying solely on data seems unwise. On the other hand, the British Pound (GBP) may face challenges as traders adopt a cautious stance ahead of the Bank of England's (BoE) policy meeting scheduled for Thursday. Many predictions suggest that the central bank will maintain its current interest rate at a 15-year high of 5.25% due to growing concerns about economic recession. The UK economy is feeling the strain due to high-interest rates, adding to the challenges posed by persistent inflation. Economic data indicates significant declines in various sectors, coupled with high inflation, putting additional pressure on household budgets.
by Gwen_Humuna
GBPJPY - W1\D1GBPJPY W1 - We can say that a strong “Head and Shoulders” pattern has already been formed. You can also pay attention to the formation of a 3-wave structure for a trend reversal. In this scenario, it would be possible to see the price at 164.120. Otherwise, if the price remains at these values, a triangular formation can be considered. D1 - The price is moving in a small zone, in order to consider selling, it is better to wait for fixation at the level of 180.720 and try to consider short positions from these values. What to expect now? Wait until it fixes at the level of 180.720 and try to consider short positions from these values with targets up to 169.380. Cancellation of idea 183,870 - 187,230. Short Targets 164,120 - 172,745 - 169,380 - 164,120
Short
by Trade_Hive_Signals
GBPJPY Ueda faces risk of market collapse as Bank of Japan weighMr. Kazuo Ueda of the Bank of Japan is in a predicament. If he sticks to policy this week, there is a risk that the yen will fall to a 10-year low and the yield control program will come under attack from speculative markets. If the Governor simultaneously raises the upper limit of 10-year yield curve control, either explicitly or implicitly, the Governor could raise long-term interest rates to levels that are inconsistent with economic fundamentals, which is the Governor's goal. The achievement of stable inflation would be at risk. In a sign of how tense the monetary policy debate will be, BOJ officials are likely to monitor developments in yields right before deciding whether to adjust the YCC, the people said.
Short
by Chart_MasterPro
GBPJPY | Will BoJ allow Diamond to shine? From technical point of view, we have clear Diamond pattern on a daily timeframe . As you can see on my chart, latest rally broke through the upper dynamic resistance, but got quickly pushed down while creating equal highs. Market closed at a key lvl static support area and dynamic one , from Diamond formation. Based on just technical side, I'm expecting small correction to retest 182.080 , it is Camarilla long breakout pivot point. After possible rejection, price should move South and break below diamond pattern with possible move to Short breakout Camarilla point at 180.470. But what about fundamental side? Well, Bank of Japan might overshadow other Banks in the upcoming week , if Ueda and other members decide to give us something unexpected. Due to experts, there is possibility for another YCC tweak, but I don't think it will be enough to support YEN to higher extend. Ex-BoJ member thinks that negative rates may stop by year-end, and that's exactly what we are looking for. Some word or single thought that could signalize potential end of negative rates. Carefully watch that meeting since it will be crucial. And here we have Bank of England. BoE is expected to keep the Bank Rate unchanged at 5.25% . Everything will depend on narration of BoE's members. Pause + Neutral stance won't cause any sharp moves in my opinion. Have a great day y'all! All the best
Short
by fxintouch
1
GBP/USD Hits Three-Week Low Below 1.2100"GBP/USD extends this week's decline from near 1.2300, touching a three-week low in Asian trading on Thursday, pressured by a stronger US dollar. The pair weakens further below the key 1.2100 level and faces selling pressure. The Relative Strength Index (RSI) on the 4-hour chart drops below 50, and the latest 4-hour candles close below the 100-period and 50-period Simple Moving Averages (SMA), indicating a downtrend. The level at 1.2100 (a psychological threshold) is considered the main support. If buyers fail to defend this level, further losses towards 1.2050 (the recent low) could be witnessed. To attract technical buyers, GBP/USD needs to surpass the resistance zone of 1.2190-1.2200, where the 100-period SMA and the 23.6% Fibonacci retracement level converge. In this scenario, 1.2250 (the 200-period SMA) and 1.2300 (the 38.2% Fibonacci retracement level) could be seen as the next resistance levels. After a sharp decline on Tuesday, GBP/USD rallied back to 1.2200 on Wednesday. However, market caution prevented a sustained recovery. US data released on Tuesday revealed that private sector business activity expanded slightly faster in early October compared to September, with the S&P's global composite PMI improving from 50.2 to 51. While US Treasury bond yields continued to decline, the US dollar benefited from the optimistic PMI data, putting pressure on GBP/USD. In early European trading on Wednesday, US stock index futures traded negatively, and the yield on the 10-year US Treasury note maintained a modest daily increase of around 4.85%, supporting the US dollar. In the latter part of the day, the US New Home Sales data for September will be considered for new momentum. Some policymakers at the Federal Reserve have expressed concerns about the negative impact of high-interest rates on the housing market. Therefore, a significant decline in this data could immediately harm the US dollar. On Thursday, the US Bureau of Economic Analysis will release its initial estimate of third-quarter Gross Domestic Product (GDP) growth.
by Gwen_Humuna
GBPJPY Yen weakens to match low for year, raising intervention rTOKYO: Japanese Finance Minister Shunichi Suzuki said on Thursday that authorities would closely monitor the yen's movements after it fell by more than 150 points against the dollar, and continued to warn investors on Thursday against selling the currency. Pressure is mounting on the Bank of Japan to change its management of bond yields as interest rates rise globally. Reuters reported this week, citing sources familiar with the matter, that a possible increase in the current yield cap, which was set just three months ago, is being discussed ahead of next week's monetary policy meeting.
Short
by Chart_MasterPro
GBP/USD Approaches 1.2270 Ahead of PMI DataGBP/USD continues its upward momentum since Thursday, trading above the 1.2270 level in the Asian session on Tuesday. The pair receives support from the US Dollar (USD) adjustment, coupled with improved risk sentiment. Although GBP/USD started higher after testing the 1.2100 level, the Relative Strength Index (RSI) on the 4-hour chart remains below 50, indicating the downward trend persists. If the pair closes below 1.2100 in the 4-hour timeframe, sellers might take action. In this scenario, the 1.2050 level (the recent low) could be the next target before 1.2000 (psychological level). On the upside, the 20-period Simple Moving Average (SMA) forms a dynamic resistance at 1.2150, preceding 1.2180 (SMA 100) and 1.2200 (23.6% Fibonacci retracement level of the recent downtrend). Feel free to let me know if you need further assistance or if there's anything specific you'd like to add!
by Gwen_Humuna
2