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.
Entry details are shown on the chart.
I try and share as many ideas as I can as and when I have time. My trades are automated so I am not sat in front of a screen daily.
Jumping on random trade ideas 'willy-nilly' on Trading View trying to find that one trade that you can retire from is not a sustainable way to trade....
The Way looks clear for continued GBP STRENGTH accross the Majors.
Having Taken Top spot On our CURRENCY HEAT MAP late January 2021
GBP has given Great trade opportunities throughout this month of FEBRUARY
From here it looks like we will have a nice BULLISH CLOSE on the MONTHLY CANDLE.
The next MAJOR PIVOT price Resistance & TARGET comes in at 153.150
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...
GBPJPY has been great to us of the past few weeks.
Staying on one side of the market buy calculating Daily the strongest and weakest of the Major Currencies has helped us maintain our edge using proven Statistics.
GBP has been ahead of the pack for several weeks and has been increasing its strength daily over the other Majors.
146.560 has proved a great target...
GBP/JPY Analysis GBP Buy - Forecast Higher GBP & Lower JPY & CHF
Despite A lot of retail calling Shorts this week we have seen continued strength in the GBP across several of the Majors.
As per our Heat Map guiding our BIAS, this week once again it proves our Property system is a great free addition to finding and filtering the best currencies to pair up...
Stop fighting the trend, price will come and wipe out the supportive buyers before continuing its rampage to the upside.
I expect the price to bounce from the levels marked before creating new highs.
Sentiment Data - 69% Selling
Our Currency Heat Map tells us to stay Long GBP.
Still being the strongest Major currency we see no reason to be short the British pound, we are therefore pairing it with JPY which remains the weakest of the Major currency pairs for today's trading in the Forex Market.
Buy using our propriety currency Heat Map filter it allows us to easily pair the stongest vs...