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Since I started trading Forex four years ago, in my search for forex news, I have compiled a list of several website that are my “go to” website for news in the currency world.  This year I added a new one to the list, <a href="https://www.fxempire.com">FXEmpire</a>.  Their analysis on forex pairs are concise and easy to understand.  Thus, I also use them as a odds enhancer against what I’m looking at and/or trade set-ups I’m looking to take.

There latest analysis is on the British Pound / Japanese Yen forex pair.

<blockquote>

The British pound has initially pulled back during the day on Thursday, breaking down below the ¥132 level, before turning around and reaching towards the 50 day EMA. The 50 day EMA is currently at the ¥132.50 level, an area that of course will attract a certain amount of attention. Because of this, the market should be paid attention to for the next day or so as it could give us a signal as to where we are going next. Longer-term, it’s obvious that we are in a downtrend but a break above the 50 day EMA on a daily close after the jobs figure on Friday could be reason enough to reach towards the ¥135 level.

The alternate scenario of course is a break down below the bottom of the trading session on Thursday, which sends this market down towards the ¥130 level. Ultimately, this is a market that will be sensitive to risk appetite overall, as the Japanese yen is of course the “safest currency” of the G 10. The British pound of course also has the specter of the Brexit situation taking over and, so there is still a lot of weight around the neck when it comes to this pair.

</blockquote>

<center><a href="https://finance.yahoo.com/news/gbp-jpy-price-forecast-british-155450509.html">Source</a></center>

NOTE: in the article they are talking about the US job reports at 8:30 am on Friday.  In addition, Brexit is the reason why I haven’t taking many Pound trades in last two months, because it’s such an unknown.

So lets see if their analysis matches up with mine and I will let you assess whether they mirror each other.

Monthly Chart (Curve Timeframe) – monthly supply is at 160.00 and monthly demand is at 119.00.

![](https://cdn.steemitimages.com/DQmeGVoNMe86eP13JETShf4sf9daNFftW2AgugzSLUjqwMS/image.png)

Weekly Chart (Trend Timeframe) – the trend is down.

![](https://cdn.steemitimages.com/DQmbDLXWPrrx48kYgLH85mr3D9omhq2sHeKZdSEigxtWAey/image.png)

Daily Chart (Entry) – a trade set-up was missed to the downside already.  At the moment price is right in the middle of some supply and demand.  The chart suggests to keep your finger off the sell/buy button.  However, I anticipate things changing after the US announces their jobs report for Sept. in the morning.  

![](https://cdn.steemitimages.com/DQmUSdiLhNJ8ZAYCzNw9TMcT5ftgTZDgygU6qefpobrEDEr/image.png)
 
This post is my personal opinion. I’m not a financial advisor, this isn't financial advise. Do your own research before making investment decisions.

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