Looking for a breakout wither upside or downside, more into the sell since price is way to over bought in the higher timeframes. needs to do a correction
Bulls Dominate Market: Upward Trend Intact
Hello.
After a correction, because bulls dominate market we can say upward trend is intact.
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Anticipating a retracement in the current zone, GBPJPY aims for 177.600 while maintaining a primary target of 190.177. Expect short-term pullbacks in this uptrend.
my idea for gbpjpy with high risk this pair by long time it will reach 193 but now i think we have good to sell it just take 200 point with small stop loss approximetly 50 point
We have had a break of a previous resistance zone with a very nice strong daily candle.
I'm expecting to have a little retracement as we do have the UK unemployment data top come out and the unemployment figure is meant to go up.
So a little retracement before continuing to keep going up
This count is based on my assumptions so anything can happen not a trading or financial advice just for educational purposes only kindly do your own ta thanks trade with care good luck.
-Due to JPY weakness, all the JPY pairs have been overvalued and none of them had any strong pullback. What we are expecting and seeing here is that this strong bullish impulse will continue for another two or three weeks or up until NFP news comes out. Investors are clearly dumping JPY due to DXY is more suitable option at current market condition. If STRONG NFP...
Fundamental technical analysis:
Based on the fibonacci retracement analysis, the current price correction is expected to reach the range of 0.618 to 0.5. This correction is aimed at providing liquidity for the upcoming price surge. Moreover, the RSI and EMA indicators suggest that the upward trend is likely to continue.
Market observation:
Earlier today,...
Fundamental analysis
According to the EMA 34, 89, and 200 indicators, the market is currently on an upward trend and is following the price line. It is highly likely that the price may retest the slightly increasing sideways price zone or test the resistance area.
Market overview before news
In addition to the unexpected upturn in mortgage activity,...
Technical analysis:
The current trend for GBPJPY is still on the rise as indicated by the price line. The RSI shows an imbalance but doesn't indicate an oversold situation. The 2 EMAs are also providing support to the uptrend. In summary, it can be expected that GBPJPY will continue to increase in the upcoming days.
Market overview:
Monetary authorities...
Dear traders, many GBPJPY Traders are waiting for GBP/JPY to decline.
However, GBP/JPY is on a relentless bullish pursuit.
That being said, if you look at the daily candles in GBP/JPY, the last 10-12
daily candles indicates exhaustion which means when price finally reverses,
the fall would be pretty quick.
So, in case you are holding sells or have sold at...
On the monthly time frame, we have a bullish correction targeting the 180 price handle. On the same time frame, the pair seems to be in consolidation. While our outlook is bullish in the short term, we are anticipating a shift in the market structure once the pair mitigates the 180 price handle. Once setups are confirmed, we will post them.
Gbpjpy was on Consolidation zone, and today has broken this Consolidation, we have to wait for one pull back retest, and then we can go buy.
Stop loss 172.430
and target 174.600
During the early stages of the Asian session, the GBP/JPY currency pair experienced a modest retreat towards the 167.00 level, putting an end to its two-day streak of gains. The current exchange rate for GBP/JPY is approximately 167.16, reflecting a decline of 0.16%.
Analyzing the price action, the daily chart indicates that the GBP/JPY pair maintains an overall...
Hello traders,
GBPJPY is still on a bull trend.
I guess you agree with that.
Now the issue only focus on where to join .
We got three support zone on 4H chart to check with later .
Going long on those support zones could make the target up to fibo ext 1.27 position 175.
GOOD LUCK !
LESS IS MORE!
Position Trade - GBPJPY
Look for LONGs with caution as price is reaching the Monthly Supply
In the Weekly Chart, there is about 600 pips before price reached the Weekly Supply proximal line
Hence, in the Daily Chart,
- There are 2 potential BUY zones to place trade/s
- Traders should decide if the risks are worth it to take 2:1 or less than that since...
Hello traders!
‼️ This is my perspective on GBPJPY.
Technical analysis: Here we are in a bullish market structure from 4H perspective, so I am looking for longs from discount zone. I expect price to make a retracement to fill the imbalance lower and then to reject from bullish order block.
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