InvestMate|GBP/JPY time to get rich

29 окт. 2022 г.

💷GBP/JPY time to get rich

💷Looking at the pound for what it has done in terms of price appreciation over the last few weeks is incredible.

💷Referring back to my post from 2 weeks ago in which I wrote about the GBP/JPY pair still having plenty of room to rise (spoiler I wasn't wrong)
Accurately predicting a correction and then further rises. I invite you to read the article below. 👇👇👇

💷Since my last post on GBP/JPY the rise has already been over 800 pips which translates into a 5% increase in the price of the pound versus the yen.


💷I am proud to have written about this and it is now visible to see in my profile history.

💷But now in the second part I write that it is not over yet. The rally has only just begun

💷Looking at the long-term uptrend on this pair of 32 months now


💷Where the trend is only gaining momentum

💷Which has been mainly driven by the fall in the value of the Japanese Yen where there is currently no change in monetary policy. (negative interest rates of -0.10%)


💷It is now time for the Pound to squeeze out strong gains on the back of, among other reasons, an assumed interest rate rise to 3% from 2.25%


💷And the Bank of England's announcement of unlimited asset purchases, which has contributed to the pound's sharp rises over recent weeks


💷Friday's trading session ultimately showed market sentiment and investors' willingness to push the pound higher.


💷Moving to the monthly chart and knowing the characteristics of the movements of the currency pairs with the yen crossover which oscillate in clear easy to predict trends.


💷[It is not difficult to disagree with me here that the economic situation and the characteristics of this pair allow us to predict that the trend will still continue

The zone we can reach will be the zone of strong resistance located between the levels of 0.5 and 0.618 fibo of the largest downward wave.

I would also like to point out that we have broken through the cluster of the level 0.382 of the largest downward wave and 0.618 of the last largest correction of this wave (marked with arrows)].

💷We are still 5.29% short of the first resistances


💷At these points I would look for price turbulence (possible corrections)

💷As far as I can see, the way is open for now.

💷Feel free to share your opinion on my analysis. I am open to a substantive exchange of views

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