When price hits 155 things are going to get dangerous and a massive explosion is going to happen! Bulls are going top push price into this 155 level then from there bears will take over and massively push price down.
The reason 155 is such a key level is self explanatory from looking at my chart, but you can see the 155 level has been used a number of times...
Any close either at 150.800 or 150.400 will be my entries. It's always good to have an unbiased opinion when there's indecision! Have put alerts on so people make sure you stay tuned, don't miss any moves !
GBPJPY WEEKLY FORECAST. Starting on the weekly Chart! Last week one of my key areas for price to have a reaction was hit. I am expecting on the weekly chart to have a pullback as PA has been pushing up for the past 12 consecutive weeks.
After a long uptrend GBPJPY is looking to correct. The dip under previous low before closing above is a signal that things might recover in the short term.
I'll be looking to short the retest of the broken trendline. Horizontally, it's a 4 touch support area which is now resistance, making it a perfect place to short.
JXY is currently looking like it's going...
GBP/JPY Has been great to trade the past few months sticking with Our MAJORS CURRENCY HEAT MAP which we update daily & share for FREE.
We have been able to focus on one side of the MARKET at just being a BUYER of this PAIR.
There has been no reason to look for SELLING this pair as JPY has remained at the bottom of the MAJORS along with CHF, for a good while...
Many people would be thinking why I am entering here, Its because what i see on the higher time frame. These types of entry have gained me 30-50% trades. Partials are taken very early so I cant lose any capital. Management is the key. Lets see how this plays out. If this comes back and tag me out I will be fine with and move onto the next trade.
GBPJPY Has been a great pair for is to trade on the LONG side over the past few months.
Our CURRENCY HEAT MAP has kept us from selling any GBP.
JPY has consistently given us a SELL BIAS and so pairing up these two majors good opportunities have been given every WEEK to BUY GBPJPY
Check our previous ANALYSIS on this MAJOR & see how we did for yourself.
The most recent high got purged aggressively before reverting back below the structure. I would like to see price hold below the line marked to follow the arrow down to a lower timeframe order block.
This could present a small fade opportunity on this large upwards trend.
GBPJPY is in a strong uptrend so in my point of view we need to see a pullback to this area of value and to see some sort of rejection hope you like il be glad to see your opinion about it
I'm still a beginner though if you want to give some advice il be happy.
The previous trade I posted on this pair went very well and hit TP. This is now at a large resistance level and has been overbought so I want to see a retrace before taking another position. RSI is showing overbought on daily and weekly timeframes. There is a chance to open a short trade but I will not be taking that trade personally as I do not like trading...
On weekly Price has approached a potential resistance zone impulsively. The potential double top zone needs to wait for a rejection.
Price seems to be forming a corrective pattern towards the upper trendline