This pair has been on my watchlist for the past few days and seeing it has broken through the most recent support level 182.015, I would love to see a retest of same level and then a rejection before I take the position.
Here was what I posted some few days back
Disclaimer:
All trade ideas are given for educational purposes and should not be treated as an...
#GBPJPY
- According to the GBPJPY analysis we gave the previous day, the GBPJPY SELL SIDE WAVE was moving very well in the previous days. The reason for that was, FUNDAMENTALLY JPY STRONG, GBP WEAK. And because the MARKET SENTIMENT is STRONG. XXXJPY has been selling very fast since last week.
- JPY has become somewhat WEAK because VIX is slightly DOWN. Due...
#GBPJPY
- According to the GBPJPY analysis we gave the previous day, the GBPJPY UP SIDE WAVE was moving very well in the previous days. The reason for that was, FUNDAMENTALLY JPY WRAK, GBP STRONG and BOE made an INTERVENTION. And because the MARKET SENTIMENT is STRONG. XXXJPY has been BUYing very fast since last week.
- JPY has become somewhat WEAK because...
monthly/weekly and daily are bullish
GJ has done retracing and now it's continuing with its bullish trend
on the 4h price is making new bullish swings
so far it broke two strong s/r zones with high momentum candles
broke above the ema's so right now I am only waiting for my entry on the 1h
Monthly; bullish trend
Weekly ; there is a candle that filled the previous candle’s wick so I was expecting price to get rejected from the monthly S/R zone and reverse, currently is stuck in a consolidation
On the daily there was a rejection forming a shooting start candle indicating a reversal may happen, price also broke previous swing.
On the 4h; there is...
GBP-JPY is trading in a downtrend
And the price is about to retest a resistance cluster
Of the falling resistance and 162
That of a bearish flag pattern
So after the retest we will see a move down
GBP-JPY went down after the breakout Previous horizontal support at 159.970
A head and shoulders pattern has been formed Now we are seeing a bullish rebound
Aiming to retest the broken level and Falling resistance After that I believe we will see
Bearish continuation to the target below
GJ is under a strong monthly resistance level. The order flow pointing bearish with GBP bearish with net positions being closed. Price is below a daily resistance level. If I see a bearish shift in Structure, I'll go short In this pair
Looking at the weekly timeframe, GJ has been in a flag correction since the beginning of May, following a very strong impulse from mid March this year. Price has given us 3 touches on our resistance trendline confirm that price is respecting it. price has since fallen off this 3rd touch (as seen on the chart above). We were in a correction phase until price broke...
Hello friends
An excellent analysis of the pound yen
It's going to fall off very easily!
Be sure to use and be surprised
Understand the power of Ichimoku
