【Fundamental × Technical Feature ⑩】GBP/JPY: Chart Analysis
【Feature: Fundamentals × Technicals】
Find the optimal approach to understanding the market!
This time, we approach the market from both fundamentals and technicals. We analyze major countries and major currency pairs from multiple angles and insights, and we look for hints to discover the best ways to face the market. In addition, we pick up notable individual stocks, cryptocurrencies, and commodities to summarize the 2020 market.
In fundamentals, we will have Yen-zou-san provide the outlook for stock indices and currencies, and in technicals, we will include the long-term viewpoint of major currency pairs with analysis from Yasushi Yamanaka, a currency market professional!
・② Dollar: United States' situation
・④ Pound: United Kingdom's situation
・⑩ GBP/JPY: Chart analysis ←This article ends here
・(11) AUD/USD: Chart analysis
・(12) Market beyond currency pairs (NASDAQ & GAFA, cryptocurrencies & commodities)
※This article is a reprint/edit of FX攻略.com’s March 2021 issue. Please note that the market information written in the article does not reflect the current market conditions.
YEN-zou-san Profile
Over 20 years as a foreign exchange trader at American Citibank, British Standard Chartered Bank, and other foreign banks. Currently a top professional trader dealing in currencies, Nikkei 225, Nikkei options, and individual stocks. President of ADVANCE Co., Ltd., specializing in investment information distribution.
Newsletter:YEN-zou Real Top Trading
Blog:YEN-zou’s FX Investment Techniques - Investing in the world with dollars, yen, euros, pounds, and AUD
Twitter:https://twitter.com/YENZOU
Yamanaka Yasushi Profile
Director at Ascendant. Joined Bank of America in 1982, became Vice President in 1989, Proprietary Manager in 1993. 1999, Deputy General Manager of Forex Funds at Nikko City Trust Bank. 2002, Founded Ascendant Co.
Official Blog:FX information delivery site provided by Ascendant/Yamanaka Yasushi
Twitter:https://twitter.com/yasujiy
Pound/yen bears heavier than Pound/Dollar
When viewed on a long-term chart, Pound/yen, like Pound/Dollar, shows a gradually descending resistance line since 2016. While price for USD/GBP has clearly broken through this line around the end of 2020, Pound/JPY has not yet managed to break above this resistance line. With the dollar weakening across the board and yen strengthening, breaking above this level is seen as unlikely by Yamanaka-san.
Looking at 2020, the chart formed a triangle with the resistance line and the uptrending support line from the March COVID-19 crash, so watching which line is broken will be a key point for determining future direction.
