We've seen continued JPY weakness in the markets and a USD resurgence of late taking this pair higher and breaking through a key level in previous structure to the upside.
Currently price is following our forecast. Will we see a retracement to retest our level - or will price continue to head higher as the bullish cycle continues on the 4HR?
Why have we been looking for long positions on GJ for the past few weeks and months you ask?
Well, on the daily chart we can clearly see we have resided in an Ascending channel for some time now. However, we have now rallied up to the top of our ascending channel with a third touch.
You can see some key levels marked in on the right hand side. These are key...
Price has broken out of our range to the downside, following our forecasted price path. Lets see if we get any retracement to test our range support level as confirmation to enter a sell position.
Bulls failed to create a new high in the market before bears took over and since we've seen a strong break of our range support.
Keep your eyes on this one! Check out...
We've seen USD weakness continue into the new trading week. Price produced a lovely break and retest setup on this pair, breaking our yellow support zone and retracing to retest this area - before price fell 85 pips in the following 4 hours.
Price now resides at long term support. Will we see this level broken or will dollar bulls be sitting at this level?
Price is residing at long term lows in the market. We are seeing a triple bottom formation, and price begin to squeeze between our descending trendline and support zone. Can we expect a bullish push, breakout and reversal in the coming days and weeks?
Plenty of EUR upside potential heading into next week against the GBP.
Drawn here is a potential price path the pair could take, breaking and retesting key structure levels.
We have seen a break of our descending structure for the first time, this could be an indication of a reversal heading into next week.
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Price still respecting the key levels we marked in our previous descending structure. The break of structure is the first indication of a trend change.
We are at long term lows, price finding support at our key level and bulls looking to take price higher. Will we see a break of resistance next week with price moving higher?
What we can see here?
Price is currently rangebound, bouncing between key resistance and support levels. We have seen wick rejections at our support level. Price has taken longer than usual to turn bullish, will we see bulls take hold once again, or will bears take hold and break out this range to the downside?
Lets see what happens. Want to discuss this pair in...
We can see price has retraced to retest our previous resistance zone before bouncing to the upside.
Once again, a classic break and retest setup on this pair.
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Currently at the top of long term ranges - fakeout to the upside followed by bearish pressure in the markets, potential break of short term structure potentially indicating further downside movement for this pair?
A really simple analysis on GJ for you guys today!
More classic Break and Retest Setups on this pair - In line with the HTF bias we've been talking about for some time! Mark key levels - wait for breaks of these key levels - then wait for a retracement to test your marked key levels. See confirmation? Enter the trade?
If you don't know what this means, just...
We've seen a very weak dollar through Asian and into London. We may be seeing a test of this 4HR key level we spoke so much about prior to the break. Will we find support at this level or will this bearish momentum be too strong for the buyers sitting at this level?
We saw a break of this range to the upside last week. We have identified long term targets by looking at HTF key levels. Will price continue to rally or retrace to test our previous resistance zone as support before another push to the upside?
Check out our two potential bullish price paths on the analysis.
Any questions - Drop me a DM!
We can see this support zone has now held for over two weeks. Following the previous break of structure we are still bullish on this pair. Price action was choppy last week on this pair.
Where is price heading next?
Have a great trading week!
NZD strength prevailed throughout the week as NJ pushed higher. We can see a break of our top key level here on the 4hr chart, a retracement before a strong bullish bounce off the level breaking previous highs.
What will we see next for this pair?
We didn't see our retest confirmation to enter a long position following the Interest rate decision pushed GBP higher on Thursday.
We are hoping to see some retracement at market open before price once again pushes higher on this pair.
We've seen price rally from our Daily Key level. We consistently predict these turning points in the market.
Will we see a test of our bottom consolidation zone for further downside movement next week?