Trading Analysis of GBPJPY – UOB Group analysts write ahead of the Bank of England’s monetary policy meeting scheduled for this week that the regulator’s first rate hike should not be expected until 2023.Our Analysis:As long as price is below 152.14 follow the recommendations below:
Time frame: D1 Recommendation: short position Entry point: 149.13 Take profit 1: 148.35 Take Profit 2: 146.33
Alternative scenario:If the level of 152.14 is broken-out, follow the recommendations below:
Time frame: D1 Recommendation: long position Entry point: 152.14 Take profit 1: 154.69 Take profit 2: 156.21
Trading Analysis of EUR/JPY – EUR/JPY remains under pressure and is testing 128.00.Our Analysis:While the price is below 129.20, follow the recommendations below:
Time frame: D1 Recommendation: short position Entry point: 128.04 Take Profit 1: 127.84 Take Profit 2: 127.03
Alternative scenario:If the level 129.20 is broken-out, follow the recommendations below:
Time frame: D1 Recommendation: long position Entry point: 129.20 Take profit 1: 130.20 Take Profit 2: 131.00
Trading Analysis of GBPJPY – GBP/USD Intraday: under pressure.
Our preference:Short positions below 1.3680 with targets at 1.3640 & 1.3620 in extension.
Alternative scenario:Above 1.3680 look for further upside with 1.3700 & 1.3725 as targets.
Comment:As long as the resistance at 1.3680 is not surpassed, the risk of the break below 1.3640 remains high.
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