The Future Trend for GBPJPY?

28 wrz 2023

Hello to all traders who read my post! Meet me again!

For today, let me post my analysis about the future trend on the pair of GBPJPY.
From the current trend analysis, this pair is currently bullish until it touches 183,900. The bullish trend is marked with this candle pattern (yellow circle)

But the question is, where will it be headed after it reaches the target?
Then, I decided to see the higher timeframe on the weekly chart. From the weekly chart, it could create a right shoulder when it touches this point (183,900). Or, it could go up and up further 🤔

How about some critical events in the next few weeks that could affect this pair? I am trying to list all the events that could trigger the movement for the next two weeks (28 Sept - 13 Oct) based on the news attached on the economic calendar

1. 28 Sept 2023: GDP q/q & Pending Home Sales m/m (USA)
   
2. 29 Sept 2023: Retail sales m/m (Japan) & GDP q/q (United Kingdom)
   
3. 2 Oct 2023: BOJ Tankan Large Manufacturing & Non-Manufacturing Index (Japan) & ISM Manufacturing PMI (USA)
   
4. 3 Oct 2023: JOLTS Job Openings (USA)
   
5. 4 Oct 2023: ADP Nonfarm Employment Change & ISM Non-Manufacturing PMI (USA)
   
6. 6 Oct 2023: Nonfarm Payroll (USA)
   
7. 12 Oct 2023: Manufacturing Production m/m & GDP m/m (UK)
   

But, once again, we need to see more in the next couple of weeks.

That's for a moment. Thank you for reading my idea, and I hope this gives all the traders some new insights or perspective when is the right time to take a trade. Cheers!