Here is the translated HTML with the text content in English, keeping the HTML format as requested: GBP/JPY: From the buying signal in the 145 yen range, over +600 pips! Then a reverse sell as well!
From expectations of UK rate hikes and speculation that domestic companies will acquire UK firms
The pound-yen pair had been testing higher levels, but faced resistance around the mid-153 range
Last week it stalled substantially.
The chart is the Ask Ultimate Shadow Phantom Pound/Yen 4-hour swing,
In the pound market, since the Brexit plunge it has been trying to recover, but in pound-yen
it has fallen sharply from around the 156 yen level to near 145 yen. Since then it has formed a rebound chart, however
for the pound market the rebound has been uneven.
Even in such market moves, indicators clearly show at a glance
signals that indicate a “buying opportunity” and a “selling opportunity.”
Looking ahead, after the near-term expectations for UK rate hikes subdued, the upward momentum has weakened
Takeda Pharmaceutical on the 19th proposed to acquire Ireland’s major drugmaker Shire for a record-breaking
over 6.5 trillion yen, and if realized it could attract buying in the pound
so the market will be watching whether a deal is reached by the proposal deadline of the 25th this month.
If no agreement is reached, we expect continued declines in pound-yen until a new reversal signal lights up.
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