Longs ideal on GBPJPY.
Interest rate differentials between these currencies are key when identifying trade setups. Currently, the BOE has a 5% interest rate, while the BOJ has 0.25%. Using our Institutional pairing approach, this indicates a strategy of buying the strongest currency (GBP) against the weakest (JPY).
We also consider dollar-based weakness—if the USDX is bearish, we aim to buy the strongest currency against the weakest. This condition is fully present in the current market, meaning we are looking for long positions on GBP/JPY.
To support upward price movement, we look for Discount Arrays on higher timeframes (HTF). If I were trading this pair, I’d focus on finding long opportunities from MWD Discount Arrays.
We also consider dollar-based weakness—if the USDX is bearish, we aim to buy the strongest currency against the weakest. This condition is fully present in the current market, meaning we are looking for long positions on GBP/JPY.
To support upward price movement, we look for Discount Arrays on higher timeframes (HTF). If I were trading this pair, I’d focus on finding long opportunities from MWD Discount Arrays.
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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.
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.