Today'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.
bojChart PatternschartsforextradingGBPgbpjhpyTechnical IndicatorsjpyrallyratesTrend Analysisyieldcurvecontrol

Also on:

Disclaimer