Upon analysing this pair and being in a good short term sell profit, I do believe that the market is continuing down the bearish trend to around the 161.872 area. I will continue to follow the trend and allow it to tell me, but from this observation, I think we can continue getting our profits in from the remaining downside.
Upon analysis, I see market heading to the 164 level and below.
My analysis tells me that there is a short term buy in the 1hr TM, but the move I am focusing on is the sell. I believe that MACD and market structure confirms by analysis, and once we get that mini sell in the 15min TF, we can begin prepare for the short term buy also.
I believe that the market will leave a wick where this impulse is, and will shoot down to hit our previous important low before it goes to our next bullish target
I'm heading for the equal highs. from there we will decide what to do next.
Analysing the gbpjpy looking for short term longs, and longer term sells
There is room for the market to descend in this timeframe to the 15 min low of that move. It's possible that it could go further, but that area would be our first target.
Mini short, then continuing bullish to our daily target then a possible retest
i am confident that market will follow the fashion of my arrows
Update from previous my previous analysis. We can see the GBPUSD is moving in the exact direction
Many opportunities to buy or sell, however, to avoid being caught in the maze, catching the long term move down is the focus. i believe that the market will follow my arrows as displayed
My analysis. there are a few opportunities to buy or saell depending on the type of trader you are, but long term trade this is a buy, and believe it will follow the arrows that i've drawn on my chart
The retrace is correcting the dominant trend. Look for some short positions before trend continues
See previous chart for how i followed this transition