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Dear traders and followers!
Many months I only buy GBP/JPY because the pair has strong uptrend based on technical and fundamental analysis.
Technically, the daily and weekly price of the pair is over ema200.
Fundamentally, monetary policies of the BOE and the BOJ are different like the ones of the FED and the ECB. Japanese central bank is printing money, but the BOE is thinking about rising its rates. I agree with most experts who predict weakness of JPY in the nearest future.
Thus, I look for entries to buy GBP/JPY mostly using H1 and h4 charts. However, it is hard to make profit in this way since the beginning of March. Some of my trades were profitable, but most of them were not. Although, I lost some money, I belive the pair will continue its uptrend soon.
Below is H1 chart with my trades this week.
Many months I only buy GBP/JPY because the pair has strong uptrend based on technical and fundamental analysis.
Technically, the daily and weekly price of the pair is over ema200.
Fundamentally, monetary policies of the BOE and the BOJ are different like the ones of the FED and the ECB. Japanese central bank is printing money, but the BOE is thinking about rising its rates. I agree with most experts who predict weakness of JPY in the nearest future.
Thus, I look for entries to buy GBP/JPY mostly using H1 and h4 charts. However, it is hard to make profit in this way since the beginning of March. Some of my trades were profitable, but most of them were not. Although, I lost some money, I belive the pair will continue its uptrend soon.
Below is H1 chart with my trades this week.
