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GBPJPY | Thoughts and Analysis | Pre-BOJ Insights | Forex

Published: 22.01.2024
by Joseph Jeffriess

Today, we’re honing in on GBPJPY pre-Bank of Japan. Despite its swift upward trajectory, the price has hit a resistance wall, signalling a crucial point for analysis.

Today’s focus: GBPJPY

Pattern – Continuation, resistance test.
Support – 37,400
Resistance – 187.63 – 184.35

The market could now be waiting to see what’s next from the Bank of Japan. Will they tweak their bond-buying program? We have seen some solid volatility from past meetings. Could this be another

We have run over two scenarios in today’s video, and we will look to see what happens next for the JPY after tomorrow’s BOJ meeting. Rates are expected to remain on hold, and the statement and outlook report are expected between 11:30 am and 4 pm on Tuesday this week.

Risk Warning: Trading involves substantial risk and is not suitable for every investor. Carefully consider your financial situation and consult with your financial advisor before trading. Only invest funds you can afford to lose.

Good trading.

GBPJPY | Forex | BOJ | Trading | Price Action | Technical Analysis | Trend Analysis | Chart Patterns | Technical Indicators | Continuation Patterns

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