📉 GBPJPY SELL 📉
💰Take Profit 1 - 180.54
💰Take Profit 2 - 180.04
💰Take Profit 3 - 179.54
❌ Stop loss - 182.34
Here is my analysis of GBPJPY:
The GBPJPY pair has been in a bearish trend for the past few weeks, and it is currently trading near the bottom of its range. The current spot rate is 181.34, and a sell entry point of 181.34 is just above the recent low of 181.10.
There are a few reasons why GBPJPY could continue to fall in the near term. First, the GBP is generally seen as a safe haven currency, and it has been weakening against the JPY in recent weeks as concerns about the UK economy have grown. Second, the Bank of England is expected to raise interest rates more slowly than the BoJ, which could weaken the GBP against the JPY. Finally, the JPY has been supported by the recent decline in risk appetite.
However, there are also some risks to consider before entering a trade on GBPJPY. The forex market is volatile, and there is always the risk of a reversal. Additionally, the economic outlook for the UK and Japan is uncertain, which could impact the price of GBPJPY.
Overall, I think GBPJPY is a good pair to trade for those who are looking for a short-term bearish trend. However, it is important to remember that the forex market is volatile, and there is always the risk of a reversal.
Here are some additional factors that you may want to consider before entering a trade on GBPJPY:
The economic outlook for the UK and Japan.
The level of volatility in the forex market.
The price of risk assets, such as stocks and commodities.
💰Take Profit 1 - 180.54
💰Take Profit 2 - 180.04
💰Take Profit 3 - 179.54
❌ Stop loss - 182.34
Here is my analysis of GBPJPY:
The GBPJPY pair has been in a bearish trend for the past few weeks, and it is currently trading near the bottom of its range. The current spot rate is 181.34, and a sell entry point of 181.34 is just above the recent low of 181.10.
There are a few reasons why GBPJPY could continue to fall in the near term. First, the GBP is generally seen as a safe haven currency, and it has been weakening against the JPY in recent weeks as concerns about the UK economy have grown. Second, the Bank of England is expected to raise interest rates more slowly than the BoJ, which could weaken the GBP against the JPY. Finally, the JPY has been supported by the recent decline in risk appetite.
However, there are also some risks to consider before entering a trade on GBPJPY. The forex market is volatile, and there is always the risk of a reversal. Additionally, the economic outlook for the UK and Japan is uncertain, which could impact the price of GBPJPY.
Overall, I think GBPJPY is a good pair to trade for those who are looking for a short-term bearish trend. However, it is important to remember that the forex market is volatile, and there is always the risk of a reversal.
Here are some additional factors that you may want to consider before entering a trade on GBPJPY:
The economic outlook for the UK and Japan.
The level of volatility in the forex market.
The price of risk assets, such as stocks and commodities.