The pair can stay in the channel and have a big move down because of the uncertainty of the election and the political situation in GB. It can move down to the 139-138 area which coincides with the 70%-78% fibonacci levels of the last move upwards, the trend zone support and support zone to trigger a long position
very few trading opportunities today on my radar. Here is one of the most interesting, we're on the daily chart and it's clear to everyone that we're about to make a decision. The structure you see looking left seems very important, and also the RSI way overbought make me think it's going to reverse. Nonetheless, you don't want to short such a trending...
With the current fundamental situation. USD look to strengthen.
Monday will be a off day for Britain. Kindly refer to the below on the take profits area :
a) TP1 1.288
b) TP2 1.264
Trade at your own risk.
The breakout is so incline worried me a little because a breakout with angle more than 45' degree is a sign for it to go even further up. and that is why i'm going short with small lot size and tight Stop Loss.
Short because the cycle seems to end approaching the previous Resistance. Trade at your own risk.
With key support at 136.75 broken and price now trading under the 200 sma on the Daily, more weakness in G/J is likely. The rising trendline shown, which comes in at 134.76 may offer support but this seems unlikely. Adding to the BEARISH technical picture are political tensions over North Korea and Syria/Russia which will lead to investors seeking out the safety...
We are SHORT this pair from 136.69 and 136.55.
The key support level at 136.45 has broken and although price is now bouncing off WS1 support at 136.40 we think this pullback will be short lived and GBP/JPY looks on the edge of collapse down to 134.00
i've been watching this pair for quite a while, price has finally reached the daily structure i wanted to. Here we have two harmonic patterns already completed (Bat and Gartley) and price has formed a nice double bottom with RSI divergence.
The first way you can trade it is by buying right now, with stops below the lows and targets at a minimum 1,25:1...
I just entered a short in GBP/JPY. This has pulled back up to the 137.20 daily resistance, which is confident with the 38.2 fib level. I'm looking for lower prices with JPY continuing to strengthen and not much support offered for GBP. I'm targeting the 27 extension/daily level at 136.00
136.65 has held up G/J BEARS and the falling trendline shown (red) is holding up the BULLS.
On the Daily TF TDI (not shown) the price is becoming increasingly squeezed with just 14 points covering the volatility bands and the RSI, Market line and Signal line all held within this tight range.
The RSI on the DTF is headed up indicating a general BULLISH look but...