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Gbpjpyidea

GBPJPY - FUNDAMENTALS WITH SECHNICAL BIAS#GBPJPY - According to the GBPJPY analysis we gave the previous day, GBPJPY did not move in a DOWN SIDE WAVE. The reason for that was because of a FUNDAMENTALLY JPY WEAKNESS. XXXJPY has been BUYing very fast since last week. - JPY has weakened slightly as VIX is slightly down. Due to this, STOCKS and XXXJPY CURRENCY were slightly BUY. GBPJPY also became BUY because of that. But now there is a RISK ON BIAS. So GJ can still be BUY. - Currently, GBPJPY can move up to the LEVEL of 169.892. Also, if GBPJPY STRUCTURE BRAKE, it can move up to 161.097 LEVEL. Therefore, attention should be paid to MARKET UPDATES and MARKET SENTIMENT.
by benny_marshall
1
Short GBPJPYShort GBPJPY @ 163.30 TP: 157.88 SL: Will keep an eye and most probably cut this trade above 164.60 area. We saw a dovish hike from BOE which cause a sell off in GBPXXX currency which was all reversed on the back of the US NFP print (which doesn't really make sense). I would think this GBP rally will be short lived and I expect sterling to trade weaker in the coming weeks. Some technical resistance at 163.30 fibbo lvl. Support comes in at 162 area ... below that there is 160.40 area and then finally our TP at 157.88. This trade offers a great R/R ratio. Good luck ;)
Short
by WhosPipsAreTheseAnyway
3