Long

GBP/JPY Pullback off 144.80/70 And Selling Opportunity

Updated

Successful recovery form 143.80/70 favors bulls, 200-day SMA and nearby trend-line can flash on buyers’ radar. marked since late-February and 100-day simple moving average (SMA), which in turn signal brighter chances of its run-up to challenge 200-day SMA. If buyers manage to surpass 200-day SMA level of 144.60, short-term descending trend-line at 144.80, followed by 145.20, can act as intermediate halts during the upside towards 50-day SMA level of 145.90.
On the downside break of 143.70, 143.00 and February month low near 141.00 could gain sellers’ attention. GBPJPY Sell opportunity 144.80/145.00 level because Daily 200 ma and 100 ma Moving Average Area best sell opportunity in technically. On the downside break of 143.70, 143.00 and 142.45 could quickly appear on the chart whereas 142.00 could flash on sellers’ mind then after.

Previous Weekly High 147
Previous Weekly Low 145.13
Previous Monthly High 148.88
Previous Monthly Low 143.72
Daily Fibonacci 38.2% 144.2
Daily Fibonacci 61.8% 144.47

NEWS:-
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GBP:- The Bank of England will not raise any kind of rate this year. Until the end of the issue of the issue, Jahutu Bank on England will not make any major decisions. The Bank of England's monetary policy will not help in any kind of pound.
And the Bank of England governor will change, they are looking for new governors for long term. So the latest commentator does not seem to help here.
The next week, GBP's market capitalization data is all about the Bank of England Kendrick.
#GBP Microeconomic Mixes.
#GBP Macro Economics mixed curse bayerish.
**Focus on BOE's monetary policy meeting next Wednesday.
**No progress in cross-party negotiations likely to keep the Pound subdued.
JPY:- Japan starts the week with a holiday, with no data scheduled in other major economies.US Treasury yields pressure two-week lows, dragging the pair lower.
JPY futures markets shrunk by around 5.5K contracts on Friday, according to advanced data from CME Group. Volume followed suit, down by nearly 5.5K contracts after three consecutive daily builds. Nikkei 225 closed all week for holiday
- (JP) According to recent survey 48% of Japanese are against sales tax hike scheduled for Oct - Japan press

Note

GBP/JPY is currently reporting marginal losses on the day around 144.35, having defended the double top neckline of 143.72 in the last two trading days of the previous week.
Despite the minor bounce from the neckline support, it is still too early to call a bullish reversal, as the pair is yet to find acceptance below the bearish (downward sloping 10-day MA), currently at 144.83

Trend: Bearish below 143.72
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Note

The break dead line is now back on 31st October. This year the bank was supposed to increase the rate of England. The bank of England is piling up only because of the breaks.
Today, we have to see three things in front of the Monetary Policy of Bank of England.
1. Inflation
2. Job market condition
3. Economic Growth

Inflation is 1.9%, very close to the target. They want to monitor the policies of monetary policy, that is, to increase rates this year. There is a lot of hiccense stains in the bank of England.
In his previous statement, Carney said that if there was no uncertainty about the breaks and if the inflation was 2.00% + then they would move towards raising rates.
Economic Growth increased from 1.2% to 1.4.
Among these things, there are 3 things to look for 1. Inflation is 1.9%. Growth from 1.2% to 1.4%. Job market Unemployment rate has decreased from 4.00% to 3.9%

Saleh11

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