GBPJPY Weekly Outlook
GBPJPY Analysis
The
pessimistic outlook of Covid-19 on the global economy, the possibility of new
variants, and the general performance of the British Pound versus the Japanese
Yen (GBPJPY) are concerns to consider this week. In any situation where investors
assume the sentimental and fundamental influences, the British Pound waves the
risk and dumps hard. The opposite happens, the Japanese Yen is and remains a ‘safe
option’ for investors to capitalize on GBP weakness. Generally, GBPJPY has been
on a downtrend for the last decade.
SUPPORT & RESISTANCE
Support
Support
1:151.88
Support
2: 149.62
Support
3: 148.15
Resistance
Resistance
1: 155.52
Resistance
2: 156.61
Resistance
3: 160.31
Price Performance
 |
| Source:Barchart |
I Hour Chart
Outlook: A clear down trend
4 Hour Chart
Expert Overview:
As of the close of the trading day on 28th January 2022, GBPJPY was at
154.431. The early hours of Monday 31 January will see a drop to 153.630, a
slight retest back to 154. 300 zone and then 152.000 and below. This coming
week, there is a high potential of seeing the zone around 149.499. In the long-term,
GBPJPY will eventually see an area between 139.827 and 132.460 before a clear
pump to the moon is quantified.
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.
