Top-Down Analysis (Week 17, 2023): British Pound/Japanese Yen

British Pound/Japanese Yen trading in a quite extensive range of 250 pips, between 165.500 and 168.000, for the past couple of days.

In this top-down analysis, four main time-frames are used: Weekly, Daily, 4H, and 1H.

Weekly:
Bullish between 155.250 and 172.100 with a bullish momentum.

Daily:
Bullish between 162.750 and 168.000 with a bullish momentum.

4H:
Bearish between 165.500 and 168.000 with a bullish momentum after an aggressive bearish push.

1H:
Bullish between 165.500 and 168.000 with a bullish momentum.

Although there are no significant news announcement for the pair for today, volatility and extensive moves are expected for the rest of the week as per the following:

USD: Advanced GDP q/q, and Unemployment Claims to be released tomorrow (04/27/2023) at 14h30 (CET).
JPY: BOJ Outlook Report, Monetary Policy Statement, and BOJ Press Conference to be expected on Friday (04/28/2023).