Forex Analysis: GBPJPY (British Pound Vs Japanese Yen) trade opportunities. In this analysis, we have used “SFX Intraday Planetary Line Astro Pack Indicator” for Metatrader 4 trading platform. For all technical trend analysis, we have used “SFX multi pair trend dashboard indicator“.
GBPJPY Chart Analysis:
By looking at the 5 minutes chart of GBPJPY. We can see currently it is ranging within 65 pips. There is an upcoming event of Sun Opposition Moon (Mundane Aspect). Which is a stronger aspect, as shown on the text dashboard left side. Thus we will be looking forward to seeing how the market reacts. Will be staying within the range or break the range.
Planetary Line Setup:
In this chart, we have plotted only Moon Line, Moon Opposition Aspect line, Venus Line. Why Venus line? because if you scroll the chart right side you will next aspect today will be with venus. Thus we have plotted venus line. If you plot venus opposition aspect line, then it will be same as moon line. So omitted it to keep the chart looks clean.
With the trend dashboard, we can see general trend is down for Bollinger Band, Parabolic SAR, Ichimoku, MACD & Moving Average.
Upcoming Forex News Release:
We have an upcoming forex news release on USD – US Dollar (ADP Non-Farm Employment Change) which is a big red news. So the market will earn some volatility with it. Later another news gets release with CAD – Canadian Dollar GDP.
With the upcoming red news & venus aspects. It is possible for GBPJPY to break the lower range 153.63 & move down towards moon line of 152.56 zone.