GBPJPY: 156 Bounce, 161 tested. Buy Now?

Fri 20th January 2023 : Daily Currency Strength Analysis

In Today’s Video we’re looking at Trading Setups in:

• GBPJPY

GBPJPY Should We Buy Now?

In today’s currency strength video we identified that the Japanese Yen has appeared as the weakest currency on the day traders table.

Recently the Japanese Yen has been featured on the trend traders tables as the strongest currency.

With this recent weakness we could be seeing the underlying market condition changing. 

In the news the Bank of Japan this week failed to meet investors expectations by providing some form of monetary policy tightening.

This saw the Japanese Yen weaken sharply. 

Looking at the tables the GBP is the strongest currency, the monthly time frame shows price is working within a bullish channel.