# GBPJPY Rising Wedge (Dec 12, 2017) Source: https://www.tradersway.com/resources/market-info/gbpjpy-rising-wedge-dec-12-2017/ Language: en Updated: 2017-12-12 Description: Explore GBPJPY Rising Wedge (Dec 12, 2017). GBPJPY has formed. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. GBPJPY has formed higher highs and higher lows, creating a rising wedge pattern visible on its daily time frame. Price is approaching the peak of the chart pattern, so a breakout could take place sooner or later. The 100 SMA is above the longer-term 200 SMA on this chart, so the path of least resistance could be to the upside. The short-term moving average is around the bottom of the wedge, adding to its strength as support. However, stochastic is turning lower from the overbought area to signal a pickup in selling pressure. A breakout in either direction could lead to a move of around 2,500 pips or the same height as the chart pattern. There are plenty of economic events in the UK this week, including today’s CPI release. Headline inflation is slated to hold steady at 3.0% while core CPI could also stay unchanged at 2.7%. Jobs data due on Wednesday could show a smaller increase of 0.4K in claimants and a pickup in the average earnings index, which would also be a positive sign for inflation. Later on, the BOE will announce its monetary policy decision. No actual changes to interest rates or asset purchases are expected, so traders will pay closer attention to the minutes of the meeting and how policymakers would vote. ![GBPJPY Rising Wedge (Dec 12, 2017)] As for the yen, the Japanese currency has been mostly reacting to market sentiment and bond yields these days. Rising US bond yields on the heels of a potentially upbeat FOMC statement and tax reform progress are keeping a lid on yen gains. *By Kate Curtis from Trader’s Way* ## Structured data JSON-LD as served in the HTML version of this page. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Article", "@id": "https://www.tradersway.com/resources/market-info/gbpjpy-rising-wedge-dec-12-2017/#primary", "url": "https://www.tradersway.com/resources/market-info/gbpjpy-rising-wedge-dec-12-2017/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/gbpjpy-rising-wedge-dec-12-2017/", "headline": "GBPJPY Rising Wedge (Dec 12, 2017)", "inLanguage": "en", "datePublished": "2017-12-12T09:11:04+00:00", "dateModified": "2017-12-12T09:11:04+00:00", "articleSection": "Market Info", "description": "Explore GBPJPY Rising Wedge (Dec 12, 2017). GBPJPY has formed. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding.", "image": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/og-default.png" }, "author": { "@type": "Organization", "@id": "https://www.tradersway.com/#organization" }, "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": [ "Organization", "FinancialService" ], "@id": "https://www.tradersway.com/#organization", "name": "Trader's Way", "alternateName": "TradersWay", "legalName": "TW Corp LLC", "description": "Trader's Way is the trading brand of TW Corp LLC, a company registered in Anguilla under number A000001731. It provides online leveraged trading in forex, metals, energies, stock indices and cryptocurrencies through MetaTrader 4, MetaTrader 5 and cTrader, with Market execution, a 40% stop out level and a minimum initial deposit of 10 USD. The company holds no financial services licence and does not direct its services to residents of the United States or the United Kingdom.", "url": "https://www.tradersway.com", "foundingDate": "2011", "logo": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/logo-square-512.png" }, "address": { "@type": "PostalAddress", "streetAddress": "No. 9 Cassius Webster Building, Grace Complex", "postOfficeBoxNumber": "1330", "addressLocality": "The Valley", "postalCode": "AI-2640", "addressCountry": "AI" }, "contactPoint": { "@type": "ContactPoint", "contactType": "customer support", "email": "support@tradersway.com" }, "areaServed": "Worldwide, excluding the United States and the United Kingdom", "knowsAbout": [ "Foreign exchange trading", "Contracts for difference", "Leveraged trading", "Precious metals trading", "Energy commodities trading", "Stock index trading", "Cryptocurrency trading", "MetaTrader 4", "MetaTrader 5", "cTrader" ], "sameAs": [ "https://www.trustpilot.com/review/www.tradersway.com", "https://www.forexpeacearmy.com/forex-reviews/8129/tradersway-forex-brokers", "https://www.youtube.com/channel/UChRC072YJGlNNNYhg_0hZeA", "https://www.facebook.com/tradersway.forex.broker", "https://twitter.com/TradersWay", "https://www.instagram.com/traderswayforex/", "https://t.me/tw_eng" ], "identifier": { "@type": "PropertyValue", "propertyID": "Anguilla company registration number", "value": "A000001731" }, "location": { "@type": "Place", "address": { "@type": "PostalAddress", "streetAddress": "Radnicka 147", "addressLocality": "Valjevo", "postalCode": "14000", "addressCountry": "RS" } } }, { "@type": "WebSite", "@id": "https://www.tradersway.com/#website", "url": "https://www.tradersway.com", "name": "Trader's Way", "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": "BreadcrumbList", "@id": "https://www.tradersway.com/resources/market-info/gbpjpy-rising-wedge-dec-12-2017/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://www.tradersway.com/" }, { "@type": "ListItem", "position": 2, "name": "Resources", "item": "https://www.tradersway.com/resources/" }, { "@type": "ListItem", "position": 3, "name": "Market Info", "item": "https://www.tradersway.com/resources/market-info/" }, { "@type": "ListItem", "position": 4, "name": "GBPJPY Rising Wedge (Dec 12, 2017)", "item": "https://www.tradersway.com/resources/market-info/gbpjpy-rising-wedge-dec-12-2017/" } ] } ] } ``` ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Person", "@id": "https://www.tradersway.com/#wayne-mcdonell", "name": "Wayne McDonell", "jobTitle": "Chief FX Strategist", "description": "Chief FX Strategist at Trader's Way, trading forex publicly since 2004. His analysis has appeared in the Wall Street Journal, Bloomberg Television, Fox Business, Futures Magazine and FOREX Journal Magazine. Author of \"Strategic and Tactical Forex Trading\".", "worksFor": { "@id": "https://www.tradersway.com/#organization" }, "knowsAbout": [ "Foreign exchange market", "Technical analysis", "Fundamental analysis", "Forex trading strategy" ], "sameAs": [ "https://www.youtube.com/c/tradersway" ] }, { "@id": "https://www.tradersway.com/#organization", "employee": { "@id": "https://www.tradersway.com/#wayne-mcdonell" } } ] } ```