GBPJPY is one of my favourite pairs I expect this pair to drop to the downside we had 100 pips move to the upside today, this could possibly go little bit more higher and consolidate for sometime then it could drop to the downside hopefully break previous lows of 155.00 and 153.00, it is possible for this pair to make new highs of 159.00 and even 160, but my...
GBPJPY (SHORT)- If all the resistance holds in place.
If we see the Resistance broken out then we could see the shift in the trend.
I marked the TP 1, TP 2 , TP 3 and EXIT (SL) on the chart.
(THIS IDEAS VALID NEXT 24 HOURS)
GBP/JPY looks like its in for a ride on the trend line break. Followed by this we have retraced 61.8% into 156.700. With this in mind and a combination of market structure forming lower highs and lower lows I do expect multiple rejections on 156.7 forming a lower high bringing in an opportunity for shorts into 154.5. in order for this to be valid, as mentioned we...
After almost a month of being bullish expecting the market to correct and give us a to the lows of 153.00, with few news coming on both Yen or Pound the drop will be a clean one
A) WEEKLY
1. Price reached important point of decision on weekly chart; descending weekly trendline.
2. In the end of May, price respected previous highest resistance that was made on Jan 2018 and failed to break the resistance, thus made a reversal.
B) DAILY
1. Price made a beautiful daily ascending channel as a sign of correction before any impulsive move on...
GBPJPY BEARISH DEEP CRAB PATTERN
Market Sell Order Set Up.
Sell Entry: (143.623)
Min Take-Profit: (142.368)
Max Take-Profit: (141.585)
Stop-Loss: (144.553)
Max Risk-Reward: (2.19)
Smash a Like button and leave a Comment, I appreciate every support. Goodluck.
Plan: wait for the price to bounce off from resistance level --> wait for the rejection candle pattern to form e.g. bearish engulfing, pinbar, etc --> SELL
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Traders!! if...
The Pair is trading near critical levels at the moment. after analyzing the wave structure i believe there is still a missing leg to take place in the near term targeting 139!! level soon.
to finish the grand 3 waves pullback.
short positions are from current levels!!!
Good Luck !!!!
