# GBPJPY Trend Line Pullback (Jan 31, 2017) Source: https://www.tradersway.com/resources/market-info/gbpjpy-trend-line-pullback-jan-31-2017/ Language: en Updated: 2017-01-31 Description: Explore GBPJPY Trend Line Pullback (Jan 31, 2017). GBPJPY recently. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. GBPJPY recently broke past a descending trend line visible on its 4-hour time frame and is showing signs of a pullback. Applying the Fib tool on the latest swing high and low shows that the 50% retracement level lines up with the broken resistance, which might now hold as support. The 100 SMA is still below the 200 SMA so the path of least resistance is to the downside. However, the 100 SMA is close to the 38.2% Fib and might function as dynamic support. Stochastic is indicating oversold conditions, which means that sellers need to take a break and might let buyers take over. If so, GBPJPY could resume its climb to the swing high at 144.75 or higher. On the other hand, a break below the lowest Fib at 139.75 could put the pair back on the downtrend. The BOJ refrained from making any policy changes in their statement today but this comes after a round of bond-buying adjustments last week. Recall that they skipped the schedule to buy short-term maturities while increasing their long-term bond purchases in their attempt to target the yield curve. Up ahead, the BOE Super Thursday is lined up and this could mean a lot of volatility for pound pairs. Although no actual policy changes are expected from the central bank, the focus will be on Brexit-related discussions and potential adjustments. Traders might also get a glimpse of how policymakers are reacting to Trump’s decisions so far. ![GBPJPY Trend Line Pullback (Jan 31, 2017)] Earlier today, Japan reported stronger than expected household spending and preliminary industrial production data, shoring up demand for the yen and underscoring the BOJ’s upgraded growth forecasts in their previous statement. The yen is also drawing support from the selloff in US assets as traders seem to be pricing in additional uncertainty. *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-trend-line-pullback-jan-31-2017/#primary", "url": "https://www.tradersway.com/resources/market-info/gbpjpy-trend-line-pullback-jan-31-2017/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/gbpjpy-trend-line-pullback-jan-31-2017/", "headline": "GBPJPY Trend Line Pullback (Jan 31, 2017)", "inLanguage": "en", "datePublished": "2017-01-31T07:30:08+00:00", "dateModified": "2017-01-31T07:30:08+00:00", "articleSection": "Market Info", "description": "Explore GBPJPY Trend Line Pullback (Jan 31, 2017). GBPJPY recently. 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-trend-line-pullback-jan-31-2017/#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 Trend Line Pullback (Jan 31, 2017)", "item": "https://www.tradersway.com/resources/market-info/gbpjpy-trend-line-pullback-jan-31-2017/" } ] } ] } ``` ```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" } } ] } ```