Short on GBPJPY - Signals for U-turn

4月24日

Long-term target based on the latest BoJ interest rate hike and signs of a positive outlook for Japan's economy. Technically the pair is scraping around .618 FIBO level which is 195ish - there's still some room to hit the level.

1st target = 170 (0.382 FIB)
2nd target = 160 (156-157 - resistance/support of the past price action).

4月26日

ノート

A closer look on Weekly. GJ took it higher latest high (Jun '15) as .618 FIB sits around strong figure of 200.

5月2日

ノート

198-200 proved to be a point sellers were looking forward to.

Looking at a Daily timeframe, 200EMA was hit once and I expect it to be a next support on the cable-yen's way lower.

7月25日

ノート

Although somewhat above 200, we are still around major resistance level.

9月1日

ノート

4H shows GBPJPY might want to complete the recent bounce towards 200 level again.

Once it's there, 200 might be a good point to sell the pair.

10月11日

ノート

There are dovish talks over BOJ interest rate which push the Yen downwards.

10月11日

ノート

reuters.com/markets/asia/bojs-ueda-says-unstable-markets-global-uncertainty-cause-vigilance-2024-10-02/