Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil EL&P Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries Technical analysis: expecting GBP/JPY to retreat from 182.860 resistance By: Invezz December 15, 2023 at 09:40 AM EST GBP/JPY trading strategy Buy/sell asset: Sell GBP/JPYEntry price: 182.860Stop loss: 184.927Leverage: 1xTake profit 1: 181.00Take profit 2: 178.00Take profit 3: 174.045Timeframe: 1-2 weeksMaximum profit: 4.8%Maximum loss: 1.1%GBP/JPY chart and technical analysisGBP/JPY dropped below the major support level of 181.240 on Wednesday and closed below this level. Price also broke the bullish trend line last week after the Bank of Japan vowed to increase the interest rate.Currently, the price is making a correction and will possibly retrace to the 182.860 resistance level before making a further drop. The 182.860 is a strong resistance level and is also between the two major Fibonacci levels of 0.5 and 0.61.I am expecting the price will go for an extended bearish trend from 182.860 and will drop to 174.045 and beyond.GBP/JPY fundamental analysisGBP/JPY will possibly drop significantly on Thursday when the Bank of Japan announces the interest rate decision.It is expected that the Bank of Japan can increase the interest rates and if that happens the price of GBP/JPY will drop substantially.Great Britain pound to Japanese yen trade idea takeaways GBP/JPY will possibly retrace to the 182.860 resistance level before dropping to new lows.The price of GBP/JPY will likely drop to the 174.045 support level and beyond in the coming days and weeks.Multiple take-profit levels have been added to secure profit along the way.The risk-to-reward ratio on this trade is 1:4.2.The entry and stoploss prices have been placed at secure levels with the least probability of getting hit.Good luck!The post Technical analysis: expecting GBP/JPY to retreat from 182.860 resistance appeared first on Invezz Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
Technical analysis: expecting GBP/JPY to retreat from 182.860 resistance By: Invezz December 15, 2023 at 09:40 AM EST GBP/JPY trading strategy Buy/sell asset: Sell GBP/JPYEntry price: 182.860Stop loss: 184.927Leverage: 1xTake profit 1: 181.00Take profit 2: 178.00Take profit 3: 174.045Timeframe: 1-2 weeksMaximum profit: 4.8%Maximum loss: 1.1%GBP/JPY chart and technical analysisGBP/JPY dropped below the major support level of 181.240 on Wednesday and closed below this level. Price also broke the bullish trend line last week after the Bank of Japan vowed to increase the interest rate.Currently, the price is making a correction and will possibly retrace to the 182.860 resistance level before making a further drop. The 182.860 is a strong resistance level and is also between the two major Fibonacci levels of 0.5 and 0.61.I am expecting the price will go for an extended bearish trend from 182.860 and will drop to 174.045 and beyond.GBP/JPY fundamental analysisGBP/JPY will possibly drop significantly on Thursday when the Bank of Japan announces the interest rate decision.It is expected that the Bank of Japan can increase the interest rates and if that happens the price of GBP/JPY will drop substantially.Great Britain pound to Japanese yen trade idea takeaways GBP/JPY will possibly retrace to the 182.860 resistance level before dropping to new lows.The price of GBP/JPY will likely drop to the 174.045 support level and beyond in the coming days and weeks.Multiple take-profit levels have been added to secure profit along the way.The risk-to-reward ratio on this trade is 1:4.2.The entry and stoploss prices have been placed at secure levels with the least probability of getting hit.Good luck!The post Technical analysis: expecting GBP/JPY to retreat from 182.860 resistance appeared first on Invezz