GBPJPY Analysis Summary (British Pound - Japanese Yen)
GBPJYP Analysis Summary (British Pound - Japanese Yen)
In the
forex market, the Pound is the 4th most traded currency globally,
while the Japanese yen takes the 3rd position (Bank of International
Settlements, 2016). This week's analysis follows the technical analysis forecast
and sentiments to predict the possible direction of the market.
SUPPORT & RESISTANCE
Support One: 149.61
Support Two:148.16
Support Three: 145.68
Resistance
Resistance One: 155.5
Resistance Two:156.6
Resistance Three: 160.33
Pivot
Pivot: 153.09
GBPJPY Analysis
From the four-hour
chart (4HR), Monday morning (12th July 2021) will experience a
slight bearish movement to around 152. 595 zone. Then, the market will begin
its journey to the moon (Bullish Trend) to the zone between 154.000 to around
155. 520. After the early morning sell-off, I plan to take my buy order at
around 153.263 and take profit at 154.852. Thereafter, the market will
experience an intense downfall (bearish move to below 149.000) I prefer a risk
to reward ratio of 1:2 to 1:3. Trade safe, risk management, let’s do this.
Analytic Dave
AnalyticalDave is a personal financial analysis portfolio that captures my Derivatives trading, stock, and investing journey. My portfolio does NOT act as a financial advisor to any community. It is only purposed for journaling my story as a self-taught trader and investor.
