GBPJPY has been in a major bull run for almost a year. It has finally reached the highs of December 2019 where its met with resistance. On the lower timeframe we can see a macd divergence which we can use to get a short term short set up whilst we wait to see what happens next.
See chart below for the short term set up.
Approaching our retest price here on USDJPY, really want to see some exhaustion as I'm not sure how far we could bounce from DXY 90.000 psychological number.
If we see sequential downside waves, we could expect 105.300/400 hold. But I would rather see clear exhaustion, as the relief rally from 90.00 could be quite significant.
The sell hit stop loss, but you can see how this strategy uses a tight RR.
The last two buys easily cover it.
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Price is within an ascending channel and has hit channel resistance. We could draw up a trendline which has broken. Best way to enter is wait for a correction and enter on break of correction with stops above the correction.
Oil is known as the devils pair so be careful! Trade safe.
A bit messy but I hope I got the overall idea across. We have been seeing the same patterns appear over and over again. Anticipating a short phase next.
Confirmation? After the trendline breaks there'll be a short set up.
Coming to a key area. We are now at Feb 2020 prices, pre Covid pricing.
Has the pound really recovered to pre Covid levels?
Here's the outlook, clear technicals. Bullish structure, HH's and HL's within the Ascending Channel.
Looking for a pullback before, probably a further push through that resistance.
Another look at GBP strength potential plays, news with the vaccine for britian.
GBPJPY great 4hr continuation last week, lets wait for a pull back on 4hr or if GBP pushes on higher use 1hr bounce.
Where are you looking this monday? Silver? Seems all talks are about and around what reddit WSB are doing.
USDJPY has broken below a support line of a descending triangle formation.
The breakout is considered to be confirmed now and bearish continuation is expected.
Now the goals for sellers are: 103.1 / 102.7
If you don't have an active position on the pair, I recommend you consider the underlined red supply area based on a...
Not found that crystal ball that everyone else “has” to tell you where price will go? Sick of chopping and changing strategy? Keep changing signal groups? Struggling with chart analysis? Want more time in life rather than spending hours on the charts?
We don’t have a crystal ball and we don’t use any technical chart analysis... however we do have a ...
GBPJPY H4 - YEN has been an absolute misery this week for obvious economic reasons, GBP has had some drawbacks too but has managed to stay above ground nicely.
141.200 is being threatened to set new yearly highs. National lockdown announcement and Bailey's economic speech kept pulling GBP back as it tried to pull away this week from Brexit clarity and trade deal...
EURJPY H4 - This range has been going on for over a month now, for the majority a 70 pip range, but has extended 80 or 90 on a couple of occasions, big rally leading into this consolidation, following this until it breaks.