J-GBPJPY
GBPJPY Trade Idea 0303GBPJPY has bounced about 200pips++ since London session from the key level of 153.00 due to delegation of Ukrainian delegation. Aside from that, the weakening of JPY on Wednesday night has much contributed this pair going bullish as well.
From the H1 perspective, the pair is now trading near to the Fib level 61.8 level where the previously rejected before heading to further losses to 153.00 level. Closing candle above Fib level 61.8 setup would be considered invalidated.
A tight stop loss with sell zone around 154.90-155.20 could be considered with SL at 155.50 for a favourable risk to reward of almost 1:3 to a TP level of 153.10.
Due to recent Russia-Ukraine conflict is getting tension between these two nation, trader and investor may switch their portfolio to safe heaven currency JPY & USD. In addition, all JPY pairs is expected to be very volatile tonight during London-US session session. DOW Futures could be monitor as a precursor for the market movement tonight.
However, if there is unexpected event like cease fire between these 2 region has come to an early discussion later, a temporally risk on environment will boost all XXXJPY pairs. Thus, a tight stoploss is suggested for consideration.
Trading Signal For GBPJPYTrading Setup:
There is a Trading Signal to Sell in GBPJPY Currency Pair.
Traders can open their Sell Trades NOW
⬇️Sell Now 154.28or Sell on 155.31
⭕️SL: 156.27
🔵TP1: 153.41
🔵TP2: 151.51
🔵TP3: 148.80
What are these signals based on?
Classical Technical Analysis
Price Action Candlesticks Fibonacci
RSI, Moving Average , Ichimoku , Bollinger Bands
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GBPJPY ANALYSIS ON H4 CHART.Overall, GBP/JPY is ranging across. Recently, GBP/JPY bounced off the support zone of 156.000.
The UK employment data released yesterday indicated continued decline in the number of people claiming for unemployment benefits in February. Meanwhile, average earnings rose while unemployment rate remained unchanged.
Average Earnings Index 3m/y (Actual: 4.3%, Forecast: 3.8%, Previous: 4.2%)
Claimant Count Change (Actual: -31.9K, Forecast: -36.2K, Previous: -43.3K)
Unemployment Rate (Actual: 4.1%Forecast: 4.1%, Previous: 4.1%)
The UK CPI y/y data (Forecast: 5.4%, Previous: 5.4%) will be released later at 1500 (GMT+8).
GBP/JPY’s next support zone is at 156.000 and the next resistance zone is at 158.000.
Look for short-term buying opportunities of GBP/JPY.
GBPJPY ANALYSIS ON H4 CHART.Overall, GBP/JPY is ranging across. Recently, GBP/JPY bounced off the support zone of 153.800.
The Japanese Retail Sales y/y data (Actual: 1.4%, Forecast: 2.9%, Previous: 1.9%) released earlier today indicated a slowdown in consumer spending.
The Japanese Unemployment Rate data (Forecast: TBA, Previous: 2.8%) will be released tomorrow at 0730 (GMT+8).
GBP/JPY’s next support zone is at 153.800 and the next resistance zone is at 156.000.
Look for short-term buying opportunities of GBP/JPY.
gold chart breakdowngold will move upside for longer-term but here before price move upside price need a boost i mean liquidity so for price could move downside again before it rise up side
1810/1830/1840 important level even 1800/1785-80 keep eye on these level
GBPJPY ANALYSIS ON H4 CHART.Overall, GBP/JPY is ranging across.
Currently, GBP/JPY is testing the resistance zone of 153.800 and thenext support zone is at 151.000.
If GBP/JPY bounces off the resistance zone of 153.800, look for short-term selling opportunities up until the FOMC announcement tomorrow at 0300 (GMT+8).