GBP/JPY
"BOJ reportedly erring towards leaving policy unchanged next week"
What Ueda said today was expected. GJ has been bullish for a long time because UK monetary policy and Japan's are very different. Although inflation has started to fall in the UK (the latest CPI 7.9% is lower than the expected 8.2%), But inflation in the UK is still high so BOE Governor Bailey still has problems. Before the price continues to go up, I expect a pullback and this level seems quite reasonable to me.
What Ueda said today was expected. GJ has been bullish for a long time because UK monetary policy and Japan's are very different. Although inflation has started to fall in the UK (the latest CPI 7.9% is lower than the expected 8.2%), But inflation in the UK is still high so BOE Governor Bailey still has problems. Before the price continues to go up, I expect a pullback and this level seems quite reasonable to me.
Trade active
As you can see the price has already tested the trend line and bounced upwards as I expected, although the retest happened faster than expected. For now a little more than +100 Pips of profit, from this moment I put SL on BELet me know in the comments if you entered BUY
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The price reached the marked zone where I recommended a buy opportunityNote
I was right about the trend, and im still bullish but news has push price down and ended as a lossing trade.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.