GBPJPY with a clean bearish setup

Tomasz Wisniewski Axiory Global Ltd.

Monday starts for us with the analysis of the GBPJPY, so an instrument that is beloved by the retail traders. They mostly praise its volatility, which can bring fast wins but in the same time fast loses. Setup here is very clean and has a high chance of success.

The pair was in the sideways trend since the 20^th of September. Was, as on Friday we got the breakout and today, this movement is continued. That brings us a legitimate sell signal. To be precise, the negative sentiment is based on the fact, that the price broke 4 (four!) important supports. First one is the horizontal one (orange), so a 23,6% Fibonacci. Then, we have black and green lines, which are the lower lines of the sideways trend (triangle, depending of what lows will you connect). Last one is the long-term up trendline connecting higher lows since August. Second half of the European session brings us a small reversal but it can be considered as a typical pull-back.

Price being below all those levels is a proper sign to go short and as long as that is the case here, we are negative.

Author

Tomasz Wisniewski

Axiory Global Ltd.

Tomasz was born in Warsaw, Poland on 25th October, 1985.

EUR/USD hits two-day highs near 1.1820

EUR/USD picks up pace and reaches two-day tops around 1.1820 at the end of the week. The pair’s move higher comes on the back of renewed weakness in the US Dollar amid growing talk that the Fed could deliver an interest rate cut as early as March. On the docket, the flash US Consumer Sentiment improves to 57.3 in February.

GBP/USD reclaims 1.3600 and above

GBP/USD reverses two straight days of losses, surpassing the key 1.3600 yardstick on Friday. Cable’s rebound comes as the Greenback slips away from two-week highs in response to some profit-taking mood and speculation of Fed rate cuts. In addition, hawkish comments from the BoE’s Pill are also collaborating with the quid’s improvement.

Gold climbs further, focus is back to 45,000

Gold regains upside traction and surpasses the $4,900 mark per troy ounce at the end of the week, shifting its attention to the critical $5,000 region. The move reflects a shift in risk sentiment, driving flows back towards traditional safe haven assets and supporting the yellow metal.

Crypto Today: Bitcoin, Ethereum, XRP rebound amid risk-off, $2.6 billion liquidation wave

Bitcoin edges up above $65,000 at the time of writing on Friday, as dust from the recent macro-triggered sell-off settles. The leading altcoin, Ethereum, hovers above $1,900, but resistance at $2,000 caps the upside. Meanwhile, Ripple has recorded the largest intraday jump among the three assets, up over 10% to $1.35.

Three scenarios for Japanese Yen ahead of snap election

The latest polls point to a dominant win for the ruling bloc at the upcoming Japanese snap election. The larger Sanae Takaichi’s mandate, the more investors fear faster implementation of tax cuts and spending plans.

XRP rally extends as modest ETF inflows support recovery

Ripple is accelerating its recovery, trading above $1.36 at the time of writing on Friday, as investors adjust their positions following a turbulent week in the broader crypto market. The remittance token is up over 21% from its intraday low of $1.12.