The GBP JPY came under heavy selling pressure in reaction to the incoming Brexit headlines. The formation of a bullish pennant pattern supports the prospects for some buying on the dips. A convincing break below 154.50 is needed to nullify the constructive setup. The crossing GBP/JPY witnessed a dramatic turnaround on Wednesday and fell nearly […]
Tag: GBPJPY
Bullish Continuation Pennant Pattern Spotted On Short-term Charts
GBP / JPY witnessed some selling for the third consecutive session on Tuesday. A bullish pennant pattern supports the prospects for some buying on the dips. Positive swings add credibility to constructive short-term prospects. The crossing GBP/JPY It struggled to capitalize on the previous day’s rebound from the week-and-a-half lows, instead finding a fresh offer […]
Contained losses above 154.80
GBP / JPY finds support again at 154.80, an area reinforced by the uptrend line. The pound needs to rally 155.50 to gain momentum. The GBP/JPY It continues to move with a bullish bias, but in the short term, the momentum waned. The pound needs to rally above 155.50 (horizontal resistance and the 20 SMA […]
Bulls hit stiff resistance, focus is on downside outlook
GBP / JPY bulls in charge of hourly resistance level. The bears look for a pullback according to the daily chart. The GBP/JPY It is offered according to the lower time frames, but there is a risk of betting on momentum according to the daily chart. The following illustrates a bearish bias on the daily […]
GBP / JPY remains depressed near two-day lows around 155.50
GBP / JPY fell for the second consecutive session on Monday. A combination of factors offered some support and helped limit losses. The GBP/JPY it traded with a negative bias throughout the European mid-session and was last seen hovering near the lower end of its intraday range, around 155.50. The cross extended the previous session’s […]
GBP / JPY rises to the highest level since February 2018, above 155.00
GBP / JPY caught aggressive offers on Thursday and broke a two-week trading range. Risk appetite undermined the safe-haven JPY and kept it supported. The optimistic UK economic outlook and aggressive comments from BoE Vlieghe provided additional boost. The crossing GBP/JPY added to its strong intraday gains and surpassed the key psychological level 155.00 in […]
More consolidation on the charts
GBP / JPY to keep moving sideways as long as it is above 153.70. The consolidation range between 154.40 and 153.50 prevails, with mixed signals. The GBP/JPY it continues to move sideways between 153.70 and 154.40, within the wider range of 153.50 / 155.00. A break above 154.50 should strengthen the pound, clearing the way […]
The pound rises back towards 154.00, the momentum remains bearish
GBP / JPY finds support again around 153.50. The price continues to consolidate between 154.40 and 153.50, with downward momentum. The fall of GBP/JPY from the highest level in years near 155.00, it found support at the 153.50 area. The area was confirmed as strong support and also the lower bound of the current consolidation […]
Unable to break 155.00, corrects amid risk aversion
GBP / JPY hit by risk aversion, finding correct support at 153.50. Probable consolidation between 154.40 and 153.50. The pound made a sharp correction against the Japanese yen from the highest level in years. The GBP/JPY it failed to exceed 155.00 and lost momentum. Falling equity markets on Wednesday favored the slide by boosting the […]
Chances of a breakout above 155.00 as long as it is above 154.50
GBP / JPY strongly bullish, testing recent highs, with its sights set on 155.00. Immediate support is now at 154.35, followed by 153.95. The GBP remains near its highest level in years against the Japanese yen, hovering around 154.70. Over the past hour, it lost steam amid a widespread rally in the yen amid a […]
