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Gj

GbpJpy -> This Is The SetupHello Traders, welcome to this free and educational multi-timeframe technical analysis . On the weekly timeframe you can see that GbpJpy just recently perfectly retested and already rejected a quite obvious uptrendline which we had exactly at the 185.5 area. You can also see that we are currently retesting previous resistance at the 165 area, however weekly market structure looks very bullish so I am now just waiting for a break above the zone before I then do expect more continuation towards the upside. On the daily timeframe you can see that GbpJpy is also retesting previous daily resistance at the 165 area - I am also now just waiting for a daily break and retest before I think the next impulse towards the upside will be quite likely. Thank you for watching and I will see you tomorrow!
Long
by basictradingtv
39
gbpjpy analysis - 27 mar 2023okay so on GJ it's a bit of a tricky one but i'll try put it into words... - firstly i identified the overall trend to be bearish on the daily and weekly as well - down to the H4 market has been bullish since friday morning but then it turned bullish after creating a lower low, so right now it could be going up to form a new lower high but we will see - so i'm currently waiting for market to get to my 161.599 zone and see what it does when it gets there but i will be anticipating a bearish move once it gets there - or waiting for a breakout of the zone on the H1 to go short as well but we sit and wait to see what happens
Short
by K0KETSO
GBPJPY Long planGJ is broadly ranging and complex? Mid term direction bias still seems to be forming / TBC with a wedge shape formation Last week's break below 158.65 was rejected with a bounce Monday morning to current levels of 161.2 after liquidity grab This plan assumes the bounce takes us back up to the previous target resistance and break of the wedge at 163.8 liquidity zone A retracement to get us in a better risk/reward long - if this is not provided, then a short plan will follow as the bias is towards ranging price action!
Long
by WestEndFX
1
The story of a hawk and a dove in GBPJPYHey everyone. Welcome back to another forecast, this time on GBPJPY. This will be for the future outlook of GJ and where it can possibly head to. BOE hiked rates by 50 bps in its previous monetary meeting and market has priced in a 25bps rate hike in today's monetary policy meeting of March. However, the story of the hawk does not end here as its latest CPI y/y printed whopping 10.4% compared to a 9.9% forecasted. This really shows the stubbornness of the inflation that the POUND is facing. This makes their upcoming meeting a complicated one and the market could potentially price in a 50bps hike instead. This paves the way for more rate hikes if inflation were to remain sticky and stubborn. A hawk remains a hawk to come for the coming months. On the other side of the universe, BOJ has remained through to their stance and stuck by with a -0.1% short term interest rates and for 10 year bond yields at 0% during its month of March. It remains steadfast in its approach and the interest rate differential between POUND and YEN cannot be missed. JPY's inflation has however been rising at a steady rate, with the latest printing at 4.3%, yet it's widely expected that the BOJ remains dovish , especially after the multiple opportunities to hike rates but deciding against them. In my opinion, the story of the hawk and the dove continues to be the case for the upcoming weeks in GBPJPY and that is one of the reasons I believe that GJ is a bull story. On a technical front, I believe price can continue up to create a newer high and flirt the highs at 165. The BOE's monetary policy will be key to seeing if the hawk shall continue flying well above the dove. Long story short, GBPJPY bulls . Let's see.
Long
by Jon_Jones_Junior
GBPJPY Potential Forecast | 23rd March 2023Fundamental Backdrop 1. GBP inflation came out strong and paves way for more hawkishness from the BOE and rate hikes. 2. JPY continues to be the dove. Technical Confluences 1. Price is currently on a higher timeframe bullish trend 2. Price could tap on the H4 resistance above (red zone) 3. Price have cleared the previous daily low Idea Looking for the price to head towards the H4 resistance at 166.04. NOT FINANCIAL ADVICE DISCLAIMER The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas. We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades. Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks. OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
Long
by OlympusLab