GBPJPY Analysis

The pessimistic outlook of Covid-19 on the global economy, the possibility of new variants, and the general performance of the British Pound versus the Japanese Yen (GBPJPY) are concerns to consider this week. In any situation where investors assume the sentimental and fundamental influences, the British Pound waves the risk and dumps hard. The opposite happens, the Japanese Yen is and remains a ‘safe option’ for investors to capitalize on GBP weakness. Generally, GBPJPY has been on a downtrend for the last decade.

SUPPORT & RESISTANCE 

Support

Support 1:151.88

Support 2: 149.62

Support 3: 148.15

Resistance

Resistance 1: 155.52

Resistance 2: 156.61

Resistance 3: 160.31

Price Performance

Source:Barchart

I Hour Chart

Outlook: A clear down trend

4 Hour Chart

Expert Overview:

As of the close of the trading day on 28^th January 2022, GBPJPY was at 154.431. The early hours of Monday 31 January will see a drop to 153.630, a slight retest back to 154. 300 zone and then 152.000 and below. This coming week, there is a high potential of seeing the zone around 149.499. In the long-term, GBPJPY will eventually see an area between 139.827 and 132.460 before a clear pump to the moon is quantified.