GBP/JPY has been been on a bullish recovery since the 27th of September, for the most part of this week we have been in a range, a break above the 158.00 price level. A break below the 153.00 level will indicate a bearish continuation with further confluence.
This most recent week, we saw GBP/JPY following the same bearish direction as the previous three weeks, with its strongest impulse happening during Wednesday's New York session. When looking at the weekly time frame, this pair has been in an uptrend. However, it is fast approaching a breakout of this upwards trendline, which has held prices up for the past couple...
Here is an analysis on GBP/JPY
Currently @ 153.600
We expect the pair to retrace to at least 152.9 which is the 38.2% Fib Ret. before continuing its bullish trend
If the pair falls below 152.9 we'd expect it to test 152.2 and treat this level as support.
The pair is still bullish @ the moment, a bearish move will be confirmed if pair breaks & trade below trendline
there is a breakout on last week resistance Daily TF. which is one of the major resistance. We are now looking for an entry inside current pullback area box marked. TP would be on the next daily resistance at 140.7xx . GOOD LUCK AND TRADE WISELY!
Hi traders.
Planning on longing GJ if it fails to break above the pink resistance level and also starts to fall back down, towards the green support trend line. If the blue support level holds, I will plan on placing a long trade for this pair.
If this support level does not hold, then I plan on placing a long from the next green support trend line drawn below....
Hello traders.
GBPJPY is approaching the red resistance line drawn. I believe we could be looking to enter shorts from this region. I would aim to retest the support trend line drawn within the next day. Would suggest waiting a bit longer until the red resistance or higher is tested to then open a short. I think we may, in an unlikely scenario see a push to the...
Hi fellow traders.
Considering that GJ has tanked significantly from its weekly highs a few months ago, all in the region about 140.000(+), I think now might be the perfect time for a reversal. RSI has also tapped the oversold region from last month, it might be time to see it go up.
I believe we could possibly see a long trade that could play out within the...
Hi fellow traders.
Considering GBPJPY has just tapped the trend line from below acting as support, I plan to swing this trade to the upside where the upper resistance trend line lies. Aim to enter slightly lower than the current price, setting a buy order around 133.350. Could possible retrace lower and then move to the upside, so be ready to buy in at a lower...
Hi fellow traders,
Taking a look at GBPJPY, we are currently in a scenario where we could look to ideally target LONG trades. Though this may be on a monthly time frame, we can see we are approaching and now touching a critical support trend line. It appears that we are in a make or break scenario now, with the high likelihood of a fake out occurring.
I would...
In the daily chart Pound/Yen is about to complete the triangle, so either it will continue it's bullish trend or break to the down side to complete the Head & Shoulders pattern then do the continuation to the upside
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=142.2.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=143.45.
TP4: R2=144.2.
Set the stoploss of these orders at breakout of S2=141.95.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=147.2.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=148.
TP4: R2=148.4.
Set the stoploss of these orders at breakout of S2=146.95.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
Hye folks,
Looks like pound yen has completed its clear impulsive structure. I'm looking for buy opportunity around 50% - 38.2% Fibonacci level with target at 161.8% level.
Hope you guys got something.
Goodluck !
