The GBP/JPY pair skyrocketed on Tuesday, reaching its highest level since December 2015, as the British pound (GBP) continued to appreciate against the Japanese yen (JPY). Multiple factors contributed to the GBP’s impressive performance, including the anticipation surrounding key speeches by influential figures such as Governor Andrew Bailey of the Bank of England (BoE), Governor […]
Market Analysis: March 24 GBPJPY is currently rising within a parallel channel on the daily chart. The market experienced resistance after driving into a bearish order block formed on the 20th of December. This has caused a decline in the supporting trendline of the parallel channel. GBPJPY Key Levels Supply Levels: 168.0, 172.0, 180.0 Demand […]
Market Analysis – February 3 GBPJPY has ascended to test a resistance trendline. A rejection candle formed as the market tested the daily bearish order block. The Bears are likely to seize the market with sell orders. GBPJPY Resistance Level Supply Level: 164.50, 168.0 171.80 Demand level: 160.80, 156.00, 150.00 GBPJPY Long-term Trend: Bearish GBPJPY’s […]
Market Analysis -February 16 GBPJPY has formed a rough and inconsistent pattern. From the previous year. The market is currently in a consolidation phase. The symmetrical triangle is preparing the market for a breakout. GBPJPY Key Levels Demand Levels: 156.00, 150.80, 145.00Supply Levels: 160.80, 165.50, 168.00 GBPJPY Long-term Trend: Bullish GBPJPY experienced its last major […]
GBPJPY Analysis – December 9 GBPJPY market is now locked in a ranging pattern after it failed to get the best of the 168.720 resistance level and it didn’t drop below the demand level at 164.120 either. This wide-ranging movement comes after a great demonstration of strength from the buyers. Everything was done right until […]
GBPJPY Analysis – December 2 GBPJPY market is being forced into a consolidation phase as neither buyers nor sellers currently have the upper hand. The market has been in a ranging phase since the beginning of the second quarter of the year. Although the market’s range was much wider at the time, with 168.720 as […]
GBPJPY Analysis – November 25 GBPJPY bulls have taken matters into their own hands by abruptly stopping the market’s downtrend at 164.120. The price is now rising aggressively with consecutive bullish candlesticks. The resistance at 168.720 is now under intense scrutiny as the market comes back to test it. The rallying force of the price […]
GBPJPY Analysis – November 18 GBPJPY is recovering nicely from a recent slip-up it had. The price had worked very hard to rise above the 168.720 resistance level, and by the time the currency pair rose above the level, it got weakened and ceded control to the bulls, who quickly effected a strong bearish formation […]
GBPJPY Analysis – November 11 GBPJPY is poised for more downside movement as the sellers strike back with a bearish reversal head-and-shoulders formation. The market has been pushing to rise above the 167.810 resistance level, but it has been consistently rejected. A major rejection happened, which plummeted the price below the strong 159.680 support. The […]
