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Gbp-jpy

GBPJPYGBPJPY has been examined in different dimensions: 1- Strong supply and demand levels that I identify with my own indicator and system. 2- The structure of recently formed waves 3- Current market momentum 4- The structure of classical and price patterns In this idea, I identified the direction of the market in different ways and in the second step, I analyzed the potential of continuation or reversal. Usually, paying attention to the trend and strength of the trend can greatly increase the accuracy of the analysis. In general, I tried to describe the continuation of the movement in the simplest possible way in the diagram. ⚠️ Disclaimer: This is a personal opinion and you are responsible for any trading decisions.
Long
by HamidRamezani1992
GBPJPY | Sell Sentiment!The GBP/JPY currency pair is a popular trading pair that represents the value of the British pound in relation to the Japanese yen. The GBP/JPY pair is known for its volatility and is heavily influenced by a range of factors, including economic indicators, political events, and market sentiment. In recent months, the GBP/JPY pair has experienced a bearish trend, meaning that the value of the pound has been declining relative to the Japanese yen. This trend has been driven by a range of factors, including concerns about the economic impact of Brexit on the UK economy, uncertainty about the future direction of UK monetary policy, and broader market volatility related to the COVID-19 pandemic. In the short term, the market sentiment for the GBP/JPY pair remains bearish, with many analysts predicting continued weakness for the pound against the Japanese yen. Some of the trends that are contributing to this sentiment include ongoing uncertainty about Brexit negotiations and potential changes in UK monetary policy. Additionally, the Japanese yen is often considered a safe-haven currency during times of market volatility, which could contribute to further weakness for the pound in the short term. However, it is important to note that market sentiment can change rapidly based on new information and events, so it is important to monitor the situation closely if you are trading or investing in this currency pair.
Short
by percifying
10
Charting 8 Currencies: A Weekly Forex Analysis and CPI PreviewIn this week's Tradingview analysis, I've examined eight individual currencies and marked off key levels, support/resistance, and trendlines. These charts help me gauge the strengths and weaknesses of different pairs, which I'll be keeping an eye on for the week. However, the fundamental landscape is also worth watching, especially with the upcoming CPI event. Last week's NFP data was mixed, with some numbers beating expectations while others missed. Traders are now looking to Tuesday's CPI data to get a clearer sense of the market's direction. If the CPI data is a miss, we may see upside in risk assets and downside in the dollar. On the other hand, a beat in CPI could trigger the opposite response. Here's a brief rundown of each currency: USD: The 4H chart suggests an uptrend, but a break of the support level could lead to further downside. Reclaiming the key level could signal a continuation of the upside move. GBP: Recent price action hit a resistance zone, and I expect a pullback. I'll be watching the key level around the 50% fib for a potential bounce or downside move. EURUSD: The current uptrend may continue, but breaking the trendline and key level could trigger a downside move. JPY: Price is at an interesting juncture. Breaking the pattern and key level could give it more momentum to the upside, but failing to do so could push price down to the second key level. Watching the US10Y for further downside momentum is also important because it can add strength to the JPY. CHF: Recent price movements seem stretched, and I'll be watching for any pullback or price action at the prior resistance level. AUD: The 4H candle just broke and closed below the prior support level, indicating potential downside. A reclaim of the prior support level could indicate a false break. NZDUSD: Our support level is currently holding. If it breaks, we may see a downward move. However, a breakout above our trendline and key level would suggest a possible bullish move. CAD: There's currently downside pressure on the CAD. Watching the key level 2 for a potential reversal or further downside move. Wishing you all the best of luck in your trades, and I hope this breakdown provides some valuable insights.
by natron
8
GBPJPY Potential Forecast | 8th March 2023Fundamental Backdrop 1. Upcoming GDP q/q for the GBP releasing this Friday. 2. A positive print and above forecast will set the GBP for some bullish pressure. 3. Overall, due to interest rate differential and the difference in monetary policy stance of BOE and BOJ, GBP continues to appreciate against the JPY. Technical Confluences 1. Price has officially tapped into the H4 support at 161.91. 2. Price continues to form higher highs and higher lows. 3. Anticipate for price to tap into the H4 resistance level at 166.04. Idea I will be looking for price to continue its bullish momentum and for a break of structure on the lower timeframe which will serve as a confirmation for my long entry.
Long
by OlympusLab
1