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J-GBP

GBPJPY: Thoughts and Analysis Post-BOJToday's focus: GBPJPY Pattern – Continuation/resistance test? Support – 188.20 Resistance – 191.15 Hi, traders; thanks for tuning in for today's update. Today, we are looking at the GBPJPY daily. The BOJ lifted rates today to 0.10%, breaking the run of negative rates and showing a change in direction not seen since 2007. The BOJ also advised an end to yield curve control and ETF purchases. This had a negative effect on the JPY and sent majors higher. The GBPJPY has added up to 0.73% in today's session and has come close to testing resistance. We want to see a break of resistance to show a new continuation higher. A stall at resistance could set up a new move lower. If we see a new move to 190 and above, could we see the BOJ step in? Good trading.
Long
by Eightcap
GBPJPY: Thoughts and Analysis Pre-UK GDPToday's focus: GBPJPY Pattern – Breakout Support – 188.25? 186.14 Resistance – 189.88 Hi, traders; thanks for tuning in for today's update. Today, we are looking at the GBPJPY on the daily chart. After what looked like a new breakout, sellers have started to test buyer confidence after news hit JPY traders yesterday. The question remains: will we see buyers hold the breakout and continue to push higher, or will we see sellers break through and possibly retest 186.14 support? Another factor to keep an eye on is UK GDP; it's due at 6 pm AEDT today. Good trading.
Long
by Eightcap
GBPUSD: Analysis Pre BOE Rate decision. Today's focus: GBPUSD Pattern – Consolidation Watch Support – 1.2665, 1.2610 Resistance – 1.2751 Hi, and thanks for checking out today's video update. We are looking at the GBPUSD today as the price continues to consolidate in a rough ending diagonal pattern. We have also chosen the cable as we have the UK rates decision to come out later today. Depending on what we see from the BOE, this could be a catalyst to break the price out of its current deadlock. Yes, we do have a consolidation in an uptrend but its not a traditional continuation pattern so we are waiting to see if, and where price breaks ou before we start thinking about directional calls. Rates are expected to remain on hold, so we will be looking for policy clues in the statement. Will we see a breakout today? We have run over scenarios for price and points we will look at for potential confirmation. UK Interest Rate decision is due today at 11:00 pm. Good trading.
by Eightcap
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