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JAPANESE YEN / BRITISH POUND

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JPYGBP trade ideas

GBPJPY Trade IdeaThe GBP/JPY trades weak on board-based Pound weakness. It hit an intraday low of 191.61 and is currently trading around 191.818. Intraday trend is bearish as long as resistance 193 holds. Market expectations are that the Bank of England (BoE) is going to reduce interest rates in 2025 because of concerns over the growth of the economy and inflation. Analysts expect the BoE to lower the rate five times, which would bring down the current rate from 4.75% to around 3.5% by the end of the year. The UK economy is slowing down with growth forecasts reduced to 0.9%. Although inflation has just fallen to 2.5%, the prospect of rising again may mean that the BoE is keen on reviving the economy. The February 6, 2025, BoE meeting will be crucial because there is a strong possibility that an immediate rate cut will take place. Technical Analysis of GBP/JPY The GBP/JPY pair is trading below 34 and 55 EMA (Short-term) and 200 EMA (long term ) on the 4-hour chart, confirms a overall bearish trend. Immediate resistance is at 192.85; a breach above this level targets of 193.36/194/195/195.60/196.25/197. Downside support is at 191 with additional levels at 190/188.70/188. Market Indicators CCI (50)- Bearish Directional movement index - Neutral It is recommended to sell on rallies around 192.18-20 with a stop-loss at 194.10 for a TP of 188.
Short
by adiechiii
GBPJPY Will Go Higher! Buy! Here is our detailed technical review for GBPJPY. Time Frame: 2h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The price is testing a key support 191.954. Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 192.882 level. P.S Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
GBP/JPY Long OpportunityThe Bank of England (BoE) has maintained a hawkish stance, raising interest rates to combat inflation. In contrast, the Bank of Japan (BoJ) has kept its monetary policy accommodative, with ultra-low interest rates. This significant interest rate differential creates a strong incentive for investors to borrow Yen at low rates and invest in higher-yielding Pound-denominated assets, increasing demand for the Pound and pushing GBP/JPY higher. The BoJ's accommodative monetary policy and its efforts to weaken the Yen for export competitiveness could further fuel the rise of GBP/JPY. First Target 200 second target 213.09 Stop loss at 183.73
Long
by ChessCrypto