Top-Down Analysis (Week 17, 2023): British Pound/Japanese Yen
British Pound/Japanese Yen trading in a quite extensive range of 250 pips, between 165.500 and 168.000, for the past couple of days.
In this top-down analysis, four main time-frames are used: Weekly, Daily, 4H, and 1H.
Weekly:
Bullish between 155.250 and 172.100 with a bullish momentum.
Daily:
Bullish between 162.750 and 168.000 with a bullish momentum.
4H:
Bearish between 165.500 and 168.000 with a bullish momentum after an aggressive bearish push.
1H:
Bullish between 165.500 and 168.000 with a bullish momentum.
Although there are no significant news announcement for the pair for today, volatility and extensive moves are expected for the rest of the week as per the following:
In this top-down analysis, four main time-frames are used: Weekly, Daily, 4H, and 1H.
Weekly:
Bullish between 155.250 and 172.100 with a bullish momentum.
Daily:
Bullish between 162.750 and 168.000 with a bullish momentum.
4H:
Bearish between 165.500 and 168.000 with a bullish momentum after an aggressive bearish push.
1H:
Bullish between 165.500 and 168.000 with a bullish momentum.
Although there are no significant news announcement for the pair for today, volatility and extensive moves are expected for the rest of the week as per the following:
- USD: Advanced GDP q/q, and Unemployment Claims to be released tomorrow (04/27/2023) at 14h30 (CET).
- JPY: BOJ Outlook Report, Monetary Policy Statement, and BOJ Press Conference to be expected on Friday (04/28/2023).
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