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Gbyjpy

GBP/JPY: Brace Yourself for BoJ's AnnouncementWith safe haven currencies pulling in the most buyers this week, including the yen and the US dollar, what will happen to the USD/JPY and the GBP/JPY leading up to, and after, the Interest Rate Decision due from the Bank of Japan on Friday? Markets will likely be watching this decision super closely regardless of their expectation for the BoJ to leave interest rates unchanged. This is because this is the BoJ's first interest rate decision with its new Governor Kazuo Ueda. Commentary that goes alongside the interest rate decision will be scrutinized for any indication when Ueda might start tightening monetary policy. The BoJ will likely try to prepare markets far in advance, so it's not unlikely that Ueda might prepare some very small non-committal comments that speak to this on Friday, while standing firmly behind his preference for maintaining the current yield curve control in the short to medium term, which he has reaffirmed at every outing since taking control of the central bank. The GBP/JPY has plunged from a weekly high of just under 168.000 to just under 166.000 at the time of writing as risk-averse trades take over the market. The pair did bottom out at 165.400 before a slight rebound with support appearing at 165.550. Looking at the 1-hour chart of the GBP/JPY, the pair took advantage of the stability of the support level of 165.550 to activate value hunters to enter the market and help the pair surpass the 165.800 support line from earlier sessions. But it has been rejected at 166.10 once already in this bullish push. Next up, we will see how well 165.800 holds up if the downside push has any momentum. However, the Stochastic Indicator is not pointing too much momentum in the pair right now, at least in the 1-hour timeframe.
by BlackBull_Markets
GBPJPY Sell Signal 300 PipsGBPJPY has broken south of the upwards channel, giving us an even strong signal to the downside. 1. Daily RSI in sell zone 2. Up trend line broken south. 3. Strong bear candle close. 4. Large time frame still bearish. Look to enter near backside of up trend line. (Past support becomes new resistance) Entry 1 @ 136.75 Entry 2 @ 137.20 TP 1 @ 133.60 TP 2 @ 135.50 Good luck and let me know if there are any questions. Charles V CVFX Management Trading made Simple
Short
by cvfxwealth
GBPJPY H4 SHORTAfter an astonishing 1,000 pip Bearish wave to the Downside & a 800 pip Bullish Corrective wave to the upside, GPYJPY is showing a promising opportunity for a Short. Market Structure Forming a Double-Top "M" Pattern on the H4 Time-frame & New Supply Zone. See the Candle-Stick Break towards the Downside & Retest of the 20 Exponential Moving Average to imply the beginning of a Bearish Trend. Furthermore the Market has given us a break below & an open candle below the neckline of the Double-Top Pattern. One way to enter this trade would be to Enter Short at the initial break of the neckline with Stop Loss above previous market structure. This is a rather Aggressive approach. If one is not comfortable with that style of trading, a more patient/confirmed entry position can be found at the "retest" of the Structure Neckline. Take Profit at 134 as it is a psychological price area & bottom of structure.
Short
by InfinityFXSociety