How to trade GBP/JPY after the election

How to trade GBP/JPY after the election

2019-12-17 • Updated

Trade idea

SELL 144.90; TP 144.10; SL 145.10

GBP/JPY is correcting down after the excessive advance that it made on the news that Boris Johnson’s Conservative Party has won the UK election. Last week the price managed to overcome the 200-week MA at 143.60 and 78.6% Fibo retracement of March-August decline at 144.00. Now these levels will act as support for the pound. 

On the D1, we see bearish divergence between the price and the Awesome Oscillator. It means that the latest advance was too fast and that the pair may return to lower levels where buyers will be able to regroup.

On the H4, GBP/JPY is within a descending wedge. The fall below its support around 144.95 will open the way down to 144.00. In the meantime, the return above the upper border at 146.20 is needed to allow the pair to retest the recent highs that are just below 148.00.

GBPJPY dec 17.png

Similar

Can the CPI Release Reverse The USD? 
Can the CPI Release Reverse The USD? 

The upcoming August inflation data may send mixed signals. The 12-month headline inflation rate is expected to rise to 3.6%, causing concerns for the Biden administration. However, core inflation, which excludes food and energy prices, is projected to decrease to 4.3%, aligning with the Federal Reserve's goals. Past price trends influence both figures, so looking at recent data for a more accurate picture is crucial.

What To Trade In September
What To Trade In September

Here we go again, my friends. It’s time to look critically into the future of what trading opportunities September might have in store for us. As always, it is essential to note that the views expressed here are mine and should not be considered financial advice without proper examination.

Key Moment For The USD.
Key Moment For The USD.

Emerging market countries, including the BRICS bloc, are expressing frustration with the US dollar's dominance in the global financial system. While there have been discussions about creating alternative currencies to challenge the dollar's dominance, no concrete proposals have emerged. Instead, these countries are considering expanding trade using their own currencies to reduce reliance on the dollar.

Latest news

Gold is Rising Despite Inflation Returns
Gold is Rising Despite Inflation Returns

Gold prices are rising for three consecutive days ahead of the Federal Reserve (Fed) interest rate decision, which is expected to remain unchanged due to declining inflation and a positive economic outlook. Investors are keen on the Fed's interest rate guidance, fearing a hawkish stance that could trigger market risk aversion.

Can the Chinese Economy Recover?
Can the Chinese Economy Recover?

Amid concerns of a Chinese economic slowdown, reports of declining investment often overlook China's efficient investment strategy in emerging sectors for long-term growth. China has taken measures to stabilize foreign and private sector investments, like reducing the reserve requirement ratio to boost investor confidence.

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera