Intraday Analysis - GBPJPY - ( 28 FEB 2023 )
Will be playing GJ continuation buys from yesterday. Fundamentally both pound and yen is extremely weak. GBP is the weakest in terms of economy this year however due to its government's hawkish stance to change monetary policies to aid in the economy, GBP has a upper hand here as compared to YEN . The Japanese government has been dovish since the start of bear markets and has no intentions to change monetary policy just yet.
Looking at pullback buys on GJ
HRHR BUYS AT 163.500
MRMR BUYS AT 163.800
SAFEST BUYS BREAK OF HIGHS AT 164.500
There will be no sells in play as all timeframe has point towards a bullish bias + fundaments are in play supporting our bias.
We may get deeper pullbacks depending on GBP speakers later during pre NY session. However i do not expect it to hold much weight.
Will be playing GJ continuation buys from yesterday. Fundamentally both pound and yen is extremely weak. GBP is the weakest in terms of economy this year however due to its government's hawkish stance to change monetary policies to aid in the economy, GBP has a upper hand here as compared to YEN . The Japanese government has been dovish since the start of bear markets and has no intentions to change monetary policy just yet.
Looking at pullback buys on GJ
HRHR BUYS AT 163.500
MRMR BUYS AT 163.800
SAFEST BUYS BREAK OF HIGHS AT 164.500
There will be no sells in play as all timeframe has point towards a bullish bias + fundaments are in play supporting our bias.
We may get deeper pullbacks depending on GBP speakers later during pre NY session. However i do not expect it to hold much weight.