Get started

Gbpjpydaily

GBPJPY Long Bullish potentially upside to 209 YenGBP/JPY inflation Yields In my previouse analysis(Click onthe chart, and read it, I mentioned I am forecasting GBPJPY Rising high what already happened... GBPJPY RISING HIGHER ON MORE BUYING PRESSURE LONG GBP/JPY: On the way toward the 2015 high GBP/JPY’s break above the October high of around 172.00 has opened the door toward the 2015 high of 196.00 in the coming weeks/months. In the near term, however, the cross looks a bit overbought. Hence some sort of consolidation/minor retreat can’t be ruled out. The broader upward pressure is unlikely to fade away while the cross holds above the 89-day moving average The Bulls took control to buy GBP at 136.50 from there the market excessively made Higher Highs and Higher Lows. The best is that all this mechanism has been confirmed,one after each other. Look on the chart above: i HAVE MARKED SOME PHASES OF THE MARKET with yellow cirlcles: The circles are on the lows (Bar chart) and on the lows of RSI(below). Ususually the momentum oscillators follow the market´s motion, meaning if the market makes higher highs and higher lows, the RSI rises and follows, and vice versa. On the ba chart the market makes higher highs and higher lows, but on the maked position(See RSI) the RSI suddenly makes lower lows,and breaks down the previouse low. This is a powerfull indication that the bull trend is active,better:RSI lower lows represent and confrim that the trend will continue. Currently the price is at 179,084whil GBPYEN is correcting, but even if the market comes down(in worse case to 155(unlesse it does not break 147, the trend is bullish... This are marvellouse situations, where we can time our buying positions. The corrections are just the results of some profit takings, but most importantly the buyers will distibute their buy positions and maintain the supports more stronger. For instance as the market came down to 147 the buyers baught massively GBP and very agressively. So they will also defend this zone very agressively and powerfull in the future. The resistance at around 184 will be very weak, as now more buying deltas and volume are shifting higher. So we have higher highs and higher lows, we have rising POCs, we have shifting volme higher, we have rising supports, and they all are at the previouse pocs. My further forecast is: If GBP breaks fast 184, we will go to 194,55 and then to 209,582. If the market comes down, we will find triple supports at 162.170 and 173. From here we can time to buy the dips. Below 147 GBP will lose value vs Yen and will go to 135,132,125,120. Fundamentally GBP and majors, but also other currencies are gaining weight vs Yen. The British pound initially tried to rally a trading session on Tuesday, but then gave back gains to show signs of weakness. All things being equal, it looks like the ¥180 level continues to offer support. The British pound has initially tried to rally during the trading session on Tuesday, but gave back gains almost immediately to slam into the ¥180 level. However, the market has turned around to show signs of support yet again, and now it seems like we are just slamming around. With this being the case, it will be interesting to see how this plays out, but I do think that we have the potential for some type of explosive move. Keep in mind that the Bank of Japan is the most dovish central bank out of all of the major powers, so that does continue to put a lot of negativity into the Japanese yen. Furthermore, we are in a massive bullish run, and I think that continues to be a situation where you cannot fight the momentum. All things being equal, this is a market that I think continues to see a lot of noisy behavior, but I would be a buyer of dips as they offer value. Another thing that helps the market rally at this point is the fact that the British pound has been very strong for a while, and inflation in the United Kingdom continues to see a lot of pressure, therefore it looks like the Bank of England will continue to be very hawkish. All things being equal, I think this continues to be a “buy on the dips” scenario, and the situation continues to be one that you will have to be cautious. After all, the volatility will be a major issue that you will have to deal with, with the ¥184 level as an area that has been massive resistance, and then the ¥185 level would be the next target. All things being equal, I do think that we see a lot of noise, so therefore keep your position size reasonable but I still favor the overall upside, as the market will continue to see plenty of upward pressure, due to the fact that the situation continues to be one that the buyers certainly have control over the longer-term, but it also continues to be more noise than anything else. Fundamentals GBP/JPY takes offers to refresh intraday low down for the third consecutive day. UK CPI pushes back hawkish BoE bias by falling to 7.9% YoY in June. Dovish comments from BoJ’s Ueda, market’s cautious optimism previously favored GBP/JPY bulls. Risk catalysts, Japan inflation will be crucial to watch for clear directions. GBP/JPY reverses the day-start recovery towards refreshing the intraday trough to around 180.80 amid early Wednesday morning in London, justifying the unwelcome prints of the UK inflation. Adding strength to the downside bias are the weaker Treasury bond yields. However, the market’s cautious optimism and dovish bias surrounding the Bank of Japan (BoJ) prod the cross-currency sellers of late. UK inflation per the Consumer Price Index (CPI) slides to 7.9% YoY in June versus 8.2% expected and 8.7% prior. More importantly, the Core CPI defies the 7.1% market forecast and previous readings by declining to with 6.9% YoY figures for the said month. With this, the hawkish bias about the Bank of England (BoE) remains doubtful and drowns the GBP/JPY during the three-day losing streak. On the other hand, Bank of Japan (BOJ) Governor Kazuo Ueda spoke at a news conference after the G20 meeting in India on Tuesday while stating that there was still some distance to sustainably achieve the 2% inflation target, defending the easy-money policy in turn. It’s worth noting that fears surrounding Japan Prime Minister (PM) Fumio Kishida’s cabinet reshuffle and pessimism among the big industrial houses from Tokyo weigh on the Japanese Yen (JPY) and challenge the GBP/JPY bears. Elsewhere, the market sentiment remains cautiously optimistic amid the upbeat performance of the equities backed by the positive mood at the banks, as well as China headlines, which in turn puts a floor under the GBP/JPY prices. While portraying the mood, Japan’s Nikkei 225 rises more than 1.0% and the S&P500 Futures remain sidelined at the yearly high. However, the US 10-year and two-year Treasury bond yields stay pressured at 3.76% and 4.74% by the press time and prod the GBP/JPY bulls of late. Having witnessed the initial market reaction to the UK inflation data, the GBP/JPY pair traders should watch the risk catalysts ahead of Friday’s Japan inflation statistics and British Retail Sales. However, aggressive tightening could dent prospects for next year, raising the risk of a recession, and undermining the overbought GBP. On the other hand, the recent stimulus measures in China could help cushion some of the downside risks to economic growth in the world’s second-largest economy, providing a tailwind to European growth
Long
by DaveBrascoFX
8
GBPPJPY Long Term SELLING Trading IdeaHello Traders In This Chart GBPJPY HOURLY Forex Forecast By FOREX PLANET today GBPJPY analysis 👆 🟢This Chart includes_ (GBPJPY market update) 🟢What is The Next Opportunity on GBPJPY Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
Long
by ForexPlanet20
GBPJPY: GBP's Decline!Following the release of ONS data, there was a significant decrease in UK government bond yields as traders adjusted their expectations for future interest rate hikes. Prior to the release, financial markets anticipated a terminal UK Bank Rate surpassing 6%, higher than the current rate of 5%. However, these projections declined to approximately 5.75% during the morning, resulting in a notable drop in UK 2-year Gilt yields that are sensitive to interest rates. Considering that inflation is predicted to decline further in July due to a reduced Ofgem Energy Price Cap, it is plausible that peak rates have already been observed in the United Kingdom.
Short
by Sphyn-Trader
4
GBPJPY: Things need to notice!The break of 182.51 resistance affirmed the case that corrective pattern from 183.99 has completed with three waves down to 176.29. Intraday bias stays on the upside for retesting 183.99. Decisive break there will resume larger up trend. On the downside, below 180.85 minor support will turn intraday bias neutral first. Also, outlook will stay bullish as long as 38.2% retracement of 155.33 to 183.99 at 173.04 holds, in case of another dip.
Short
by Sphyn-Trader
6
GBPJPY - SHORT; Looking for a Top hereThe Pound found itself rather unimpressed on the heels of the recent inflation data prints. Speculation abound whether there is one more rate hike left in the BoE, before long? (Likely.) Even so, everything (including the kitchen sink) has already been factored into the Pound crosses thus, any short fall in inflation prints from here on out are likely to have severe (down side) consequences! This pair has been quite overextended, already, above 170.00. The EUR/GBP is showing signs of an intermediate bottom, following its recent drop. (Thus, if anything this is the pair to look for Shorts, vs. the EURJPY.) Overall, both pairs EUR/JPY and this one, GBP/JPY are somewhere very close to a (very!) long term top, e.g., both pairs are deserving some unmitigated attention at this point. Looking for Short Entries here Here is the Daily view; ... and here is the EURGBP;
Short
by Nemo_Confidat
21
GBPJPY: Today!The release of new data from the ONS caused a significant drop in UK government bond yields as traders adjusted their expectations for future interest rate increases. Prior to the release, financial markets were anticipating a final UK Bank Rate of over 6%, but these expectations decreased to around 5.75% during the morning, resulting in a sharp decline in UK 2-year Gilt yields, which are sensitive to interest rates. Given the projected decrease in inflation in July, thanks to a lower Ofgem Energy Price Cap, it is possible that the UK has already experienced its highest interest rates.
Short
by Sphyn-Trader
GBPJPY: In the short term, the technical outlook for GBP/JPY remains negative as indicated by the daily chart, which shows the pair declining from its recent multi-year high. The pair has experienced a significant rally of nearly 18% this year due to loose Japanese monetary policy and tightening UK monetary policy. However, there may be a change in the latter as today's inflation data suggests that July's inflation reading will be even lower. This is likely due to the implementation of the Ofgem energy price cap, which has been reduced from £2,500 to £2,074.
Short
by Sphyn-Trader
12
GBPJPY: The uptrend is still there!The US dollar index is struggling to build on Friday's recovery and remains at 100.00. The UK's FTSE 100 index is lower and US stock futures are mixed, indicating a cautious market stance. The sharp decline in Wall Street's major indices after the opening bell may help the USD find demand in case of a lack of high-level data releases. On Wednesday, the UK National Statistics Office will release Consumer Price Index (CPI) data for June. On an annual basis, the CPI is forecast to decline from 8.7% to 8.2%. Market participants may stay on the sidelines and wait for that data before deciding whether GBP/USD has more upside potential or not.
Long
by Sphyn-Trader
6