GBPJPY Intraday analysis on dated 01-06-2022

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60pips.com

 

The GBP/JPY currency pair is a popular choice for traders because it is highly volatile and offers the potential for large profits. The pairing consists of the British pound and the Japanese yen, two of the most traded currencies in the world.

 

The GBP/JPY has a history of high volatility, making it attractive to traders who are looking to make quick profits. Because both currencies are traded heavily, there is always significant market movement when this pair trades hands. This can lead to sharp price swings that can be exploited by experienced traders.

 

GBPJPY analysis on dated 01 June 2022. It’s following bullish move today. We are trading at over bought extremes. Although the bulls are in control, the stalling positive momentum indicates a turn around is possible. Buy area 161.500 and It’s below side.

 

  • A lower correction is expected.
  • The bias is still for higher levels and we look for any dips to be limited.
  • Preferred trade is to buy on dips.
Target TP: 162.500 and 163.500