Technical Analysis – GBPJPY’s postponed rally attempts to resume gains

Posted on June 3, 2020 at 3:26 pm GMT

GBPJPY is in the process of breaking above the 136.93 level – that being the 61.8% Fibonacci retracement of the down leg from 144.94 to the 41½-month low of 123.97 – and the nearby 137.19 barrier. The pickup in price is starting to be reflected in the Ichimoku lines and the short-term oscillators. The MACD, deep in the positive region, is increasing above its red trigger line, while the RSI is beginning to improve in the overbought section. Furthermore, the [..]


Technical Analysis – GBPJPY’s recent optimism attempts to turn tone bullish

Posted on May 27, 2020 at 1:14 pm GMT

GBPJPY’s recent up move from the 129.28 level appears to be finding difficulty in closing above the 200-period simple moving average (SMA) at 132.60 and the 133.00 handle. The flatness in the MACD and the blue Kijun-sen line reflect a stall in positive momentum, while the upward slopes in the red Tenkan-sen line and the RSI promote strength in the advance. Moreover, the rising 50-period SMA may be nearing a bullish crossover of the 100-period one, which could further aid [..]


Technical Analysis – GBPJPY strictly capped below short-term SMAs; slightly bearish

Posted on May 22, 2020 at 7:12 am GMT

GBPJPY has been declining over the last six weeks, falling back below the 20- and 40-day simple moving averages (SMAs) and the 132.00 psychological level, being the 38.2% Fibonacci mark of the down leg from 144.95 to 124.00. According to the momentum indicators, the stochastics are posting a bearish crossover within the %K and %D lines below the overbought region, while the RSI is edging lower in the negative threshold. In case of steeper declines, the price could touch the [..]


Technical Analysis – GBPJPY pulls back from falling trend line; slips below 132.00

Posted on May 20, 2020 at 1:22 pm GMT

GBPJPY pulled back off the descending trend line which has been holding over the last six weeks despite the upside break at the end of April, diving beneath the 132.00 psychological mark. According to the RSI, the market could maintain positive momentum in the short-term as the indicator is positively sloped above its neutral threshold of 50, the fast Stochastics suggest that some weakness is possible while the MACD is also flattening in the bullish region. Heading southwards, the price could attempt to slip below [..]


Technical Analysis – GBPJPY appears to pause before snowballing negative  

Posted on May 15, 2020 at 6:43 am GMT

GBPJPY although presently finding temporary footing, faded back below the restricting 50-day simple moving average (SMA) currently around 132.32 over the past week. Aiding the forthcoming negative price action are the short-term oscillators and the near completion of a bearish crossover of the 200-day SMA by the 100-day one. The MACD, in the negative region, has slipped below its red signal line while the RSI is hovering mid-way in the bearish territory. That said, the stochastic %K line reflects the [..]


Technical Analysis – GBPJPY stops at 38.2% Fibonacci; more losses are expected

Posted on May 13, 2020 at 1:58 pm GMT

GBPJPY has come under renewed selling pressure, falling back below its 20- and 40-period simple moving average (SMA), but remaining slightly above the 38.2% Fibonacci retracement level of the up leg from 124.00 to 135.70 at 131.24. Looking at momentum oscillators on the 4-hour chart though, they suggest further declines may be on the cards. The RSI is below its neutral 50 line, detecting negative momentum, and is also pointing downwards. The MACD, already negative, lies below its trigger line. [..]


Daily Market Comment – Dollar and stocks crawl higher but markets on alert amid virus spike

Posted on May 11, 2020 at 8:33 am GMT

Dollar gains versus yen, stocks edge up as lockdown easing spurs bets of economic rebound But fears of second virus wave keep risk appetite in check, gold ticks higher Doubts about Trump’s commitment to US-China trade deal adds to subdued tone Safe-haven yen takes a tumble as more economies reopen The US dollar appeared to lose some of its safe-haven allure on Monday as signs of economic life in many parts of the world shifted the focus to the improving [..]


Technical Analysis – GBPJPY targets 132.00 to extend recovery

Posted on May 8, 2020 at 7:33 am GMT

GBPJPY is making a second attempt to jump back into the range of 135.73-132.00 after the drop to a five-week low of 130.63. The 132.00 level did not let the bulls pass on Thursday and should it stand firm once again, the price may reverse south to retest this week’s support of 130.63, where any violation may trigger a sharper decline towards the 128.00 number. Lower, the price could revisit the 2019 trough of 126.53 before meeting the 124.73-124.00 restrictive zone. Alternatively, if the pair [..]


Technical Analysis – GBPJPY records new six-week low, breaking consolidation area

Posted on May 6, 2020 at 9:44 am GMT

GBPJPY continues to fall below the Ichimoku cloud and the simple moving averages (SMAs) in the 4-hour chart over the last couple of days, penetrating the consolidation area, which had been holding since March 26. According to the MACD, negative momentum could push for further losses in the short-term as the indicator picks up steam below its red signal line. The RSI is also decreasing, and it is relatively close to the oversold threshold; positive corrections cannot be excluded if there is a drop [..]


Daily Market Comment – Dollar slips as lockdown easing spurs risk-on; BoJ ramps up stimulus

Posted on April 27, 2020 at 8:43 am GMT

Dollar pressured as euro, pound and aussie charge higher on possible relaxation of lockdowns Stocks edge higher too but oil plunges again Bank of Japan pledges unlimited QE; focus moves to Fed and ECB Light at the end of the lockdown tunnel? It was a buoyant start to the week as signs that the draconian lockdowns that have paralysed major economies around the world are about to be loosened lifted risk appetite. The US dollar, which has been the safe [..]

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