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Gbpjpytrading

GBP/JPY- Weekly Analysis- 06-06-2021 - 06-11-2021✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯ ✯✯✯✯✯✯✯✯GJ- GBP/JPY- Weekly Forex Trade Analysis- 06-06-2021 - 06-11-2021✯✯✯✯✯✯✯ ✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯Trade Idea Information And Market Analysis✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯ #1- Market Trend / Market Bias = Uptrend- The Market Trend Is Up A. Blue Arrow Pointing Upwards... Signaling A Strong Uptrend ✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯ #2- Key Market Support And Resistance Levels A. Weekly Support & Resistance Level At 155.965 B. Weekly Support & Resistance Level At 154.525 C. Weekly Support & Resistance Level At 153.610 D. Daily Support & Resistance Level At 154.830 ✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯ #3- Price Action Market Trading Signals / Setups A.✯First Highlighted PAM Signal Was A PIN BAR B.✯✯Second Highlighted PAM Signal Was A PIN BAR C.✯✯✯Third Highlighted PAM Signal Was A PIN BAR D.✯✯✯✯Forth Highlighted PAM Signal Was A PIN BAR E.✯✯✯✯✯✯Fifth Highlighted PAM Signal Was A PIN BAR F.✯✯✯✯✯✯✯Future Potential HIGHLIGHTED PAM Signal/Setup??? ✯✯✯Highlighted Pin Bar Buy Signal Formations All Signaling Uptrend Moves✯✯✯ ✯✯✯Looking For The Potential Formation Of A PRICE ACTION BUY SIGNAL✯✯✯ ✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯ 4. EVENT AREA Highlighted Area A. Signaling A Strong Area / Level For A Potential Big Future Movement ✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯✯
by DMAFXTRAD
GBPJPY: Analysis after the Bank of England.This is a break down analysis of GBPJPY after today's Bank of England Interest Rate Decision. Fundamental Analysis: - The BoE left the rates unchanged giving a minor lift to the GBP. - JPY continues to work as a safe-haven under the current geopolitical conditions (coronavirus) and may work against the BoE lift on GBP. Technical Analysis: - The Resistance is set at 148.900 and the Support at 138.800 - The MA200 has the role of Support and the MA50 has just turned into a Resistance on the 1D chart. - The RSI is on a bearish divergence since mid December 2019. - The sequence is similar to the March 2019 top. The above mix indicates that under the current geopolitical tension (China virus) demand for JPY as a safe heaven will continue to work against the pair. Assuming the RSI continues to be under a bearish divergence and the price will not break above the 1D MA50 by a wide margin, we expect the price to decline the lower support levels of 138.800 and 135.900 once 140.900 breaks. If you like this idea give us a like, follow and share your thoughts in the comments section below. Remember to stay tuned for future technical analysis , news, updates, and more from PrimeXBT!
Short
by UnknownUnicorn3931771