gbpjpyanalysis

Longing support here, looking to test the support that was lost, currently untested. A close below my stop level will invalidate the trade

order set

Possible set up for GPJPY. I'm seeing a good trend line channel and seeing price move above the. 200 and 50 EMA giving a long bias for now. Price looks like its moving towards a strong resistance zone and I am going to wait until it has reached this zone in order to place a trade. If price breaks zone then I will enter a long if it is rejected then I will enter a short.

Straight forward really, bearish movement down to our support area ( red zone ) then a bounce and bearish movement to our resistance area ( green zone ) I'm just going to keep this 1 simple as there are a few simple people about ;p if the cap fits wear it.

Here we can see another strong support that has formed and has also been used as resistance before, price is nearly at this level now and we are expecting a bounce and a bullish run up to our resistance zone ( green box ) If we get this bullish run and price does turn at our resistance zone there is a possibility that a head and shoulders chart pattern will also...

zones to watch

GBPJPY LOOKING TO FALL AFTER A CLEAR RETRACEMENT. ONLY ENTER ONCE REVERSAL IS CONFIRMED FROM HIGHLIGHTED REGION.

GBPJPY has been travelling in an descending channel, it had a little fake breakout , but price came back into the channel, retested the inside and has started travelling down. Price formed an ascending channel on its way up , however it has now broken out to the downside and has come back to retest it , giving us another indication that we should sell.

Possible short position for GBPJPY. Price has completed a pullback to the trend line after it had already broken out of out towards the downside. We can now expect further decline in the price as it Is currently moving below all three moving average indicators on the chart which are the 20 EMA, 50 EMA and the 200 EMA. This indicates a strong short bias for us....

Key strong support / resistance level is pointed out with our arrows ( if you follow us you will know this ) We are expecting price to retest this level ( its not far away ) and then bounce making a lovely bullish run possibly up to our next resistance level ( top green line ) Use this in line with your own analysis, so if you loose your house you cant sue us ;p

Here we have a key support and resistance level as show by purple arrows ( resistance ) orange arrows ( support ) When price comes to this level it normally fails to break it and price is currently sitting at this level using it at support. Now look at the previous 4H candle that was formed and closed, it had a long lower shadow ( spike ) that tried to break this...

This level ( green line ) is not to be ignored.. it is a strong support ( orange arrows ) and resistance ( purple arrows ) level. Price is currently sitting at this level and using it as support at the moment, we are expecting a bounce and some further bullish movement. Wiping all the indicators off the chart reveals the natural beauty and makes it simple....

REBOUND OF THE ASCENDING TREND LINE, FOLLOWING A FALL IN LAST WEEKS GBP PRICE, GBP IS LOOKING TO REACH THE WEEKLY RESISTANCE OF 146.000 FURTHER EXCEEDING THIS DEPENDING ON BREXIT TALKS.

After Thursday and Fridays bearish run last week price is now sat at an important support level and with Fridays candle closing as bullish on the 4H chart we are expecting price to carry on respecting this level, we might get 1 more test and bounce of this level before finally ending up in our green zone. Wit the only high impact news for this pairing coming on...

We could possibly see a bearish down movement on GJ heading towards a minor support at 144.964. Price has recently bounced off a major resistance area and could be heading for a retest at the 147.721 area. we can also see the bullish trendline being broken an used as a dynamic resistance! Awaiting for candlestick confirmation on higher timeframe!

Looking for a pullback to the support zone touching our trend-line for further conformation on candle formation and then long entries to the next target which is (150.785)

Here we have a trend line breakout and price closed above strong resistance thanks to the strength of the GBP last week, now all technical point to more bullish movement so we are still long on this pairing as we explained in our last GBP JPY post on FEB 28th if you want to take a look at that. A break of 2 strong levels could see price visit the moon again... so...

Drawn on the chart we have a key monthly support and resistance level ( been used as resistance in this chart ) On the monthly chart this level has been respected and touched the past 4 months... Get the chart up yourself and check you lazy bas#a'rds haha, You can also see this key monthly level has been respected on this chart ( 4H ) Now you can see why it is...