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Gbpjpy_outlook

GBP/JPY Buy idea, bullish candle at the supportOverview - GBP/JPY was in a correction and consolidation phase for the last couple of weeks. However, on Friday, a big bullish candlestick was printed on the daily chart. Can this be the start of a new uptrend? Let's analyze Analysis - From the chart, you can see that price is still above the 100 day moving average, which indicates the uptrend has not been broken. The recent down wave is merely a correction. After many days of consolidation at the support, a big bullish candlestick has formed on the daily chart. Thus, the likelihood of a new uptrend brewing is reasonably high now. Probable trade set-up - Based on this, if the positive momentum is intact, a buy @149.90-150.20 with SL below 149 and TP at 153 may be considered as a potential buy signal. Disclaimer - This is simply an analysis and not a trade recommendation. The trades will be executed only if it meets the required criteria.
Long
by MarcellusLUX
10
Strength Continues in GBPJPY MID Term Target Still In Play GBP/JPY Has been great to trade the past few months sticking with Our MAJORS CURRENCY HEAT MAP which we update daily & share for FREE. We have been able to focus on one side of the MARKET at just being a BUYER of this PAIR. There has been no reason to look for SELLING this pair as JPY has remained at the bottom of the MAJORS along with CHF, for a good while now. GBP STRENGTH has been consistent too leading the board along with AUD. Out of the EUROPEAN majors GBP has left EUR & CHF behind. It's strength against these two can easily be seen in both EURGBP & GBPCHF Therefore we remain with out BULLISH GBP bias & are trading it against selected weaker MAJORS currently they are GBP-JPY and GBP-CHF Since retesting 149.400 last FRIDAY 05/03/2021 GBP JPY has continued towards are MID term TARGET at 153.150 There was also a very clean and text book break and RETEST re-entry trade offered on Tuesday 09/03/2021 when last weeks high was retested.
Long
by seekingpips