GBPJPY Fundamentally bullish technically bearish
This trade analysis is part of my diary. Please let me know if it was helful but also your suggestion for improvements
BOE delivered hawkish statement last week and from fundamental prospective GBP would be rising on the back of the "we will rather raise than lower rates" comment from BOE. There is zero chance that BOJ would raise the rate and they might actually step in and depreciate the JPY even more. This might be great buy zone and positive carry trade and long term view bullish sentiment.This would be aggressive bull zone and for those more patient there is another opportunity after HH HL. Technically this price is still in the bearish trend so caution is necessary.
BOE delivered hawkish statement last week and from fundamental prospective GBP would be rising on the back of the "we will rather raise than lower rates" comment from BOE. There is zero chance that BOJ would raise the rate and they might actually step in and depreciate the JPY even more. This might be great buy zone and positive carry trade and long term view bullish sentiment.This would be aggressive bull zone and for those more patient there is another opportunity after HH HL. Technically this price is still in the bearish trend so caution is necessary.