The YEN appears to start the week on the back foot after solid gains last week and we have a channel break on GBP/JPY. I'm LONG this market from 165.04 with a STOP under last weeks Friday high of 164.74. Target is 167 area where the 200 sma's come in and above that the monthly fib at 167.29.
GBPJPY: We expect GBPJPY to stay low atleast upto 13 FEB 2016. For our weekly traders Sell @ 169.93 with a SL @ 170.52 tGT 01 @ 168.47 Tgt 02 @ 167.82 there is a confluece level here between 167.98 to 167.82 we would advice to exit around 167.82.
A very nice looking Gravestone Doji has formed on the 4-hour chart for GBP/JPY. A few points to note: A) Daily failed to close above 170.00 B) I expect an ABCD pattern to form. If correct, then the timing of this Gravestone Doji is perfect. The ABCD pattern may start its C/D leg at around the 167.00 level, of which is where the downtrend ended and a great buying...
Hello Traders! As we promised for some Traders, there is the GBPJPY daily detailed forecast by the EWA/EWP analysis! Excuse us for the long wait. By popular demand, we present you, 3 additional video-forecasts within GBPJPY currency pair. GBPJPY - FORECAST! (1-st variant) - youtu.be GBPJPY - FORECAST! (2-nd variant) - youtu.be GBPJPY - FORECAST! (3-d...
Clear breakout and targets.
GBPJPY currently strugling to break between 100pips of its high-low position, strong support at decision area giving me idea that the pair is going to continue climb and break the resistance. However i would be more cautions if the price comeback again at decision area. It could be a downtrend continuation. Always lock position at 30 pips
I am looking for a short untill 183 area, which is point 4 of the wolfe wave. From there I would like to buy if the falling wedge in RSI breaksout north. Targeting at least point 5 and maybe even the sweet area in the wolfe wave. Once arrived there I believe we have a lot of pips to be made at the sellof.