GbpJpy expert analysis from 07-03-22 - Weekly forex forecast The idea shared is an analysis of GbpJpy for a mid term swing.
Fundamentally, we are expecting news releases from the United Kingdom
next week that would make impact on the British pounds. For now, the retail
sales of Japan which was released last Monday is a good driver for the Yen.
Sentimentally, as the UK is still faced with inflation and political tension, investors
tend to move their money to safe haven currency assets and countries.
Technically, Gbpjpy as seen on the chart is approaching from a weekly supply zone to
a demand zone. Haven broken and closed below our trick moving average, we expect price
to make a slight correction testing either the 0.50 or 0.61 fib level of the break out candle
highlighted. In the screenshot. In the video of this analysis, we explained how to trade a breakout
candle after price imbalance.
Our sentimental bias for the gbpjpy pair is bearish as we plan to hold a short position till price
reaches the demand zone.
Let,s go take some risk, let's go make some money. Millionaire Logistics
