Gbpjpy_outlook
GBPJPY Market Outlook | Daily Forex Market BreakdownGBPJPY
Looking like the bulls are still in control. I wanted to see a bigger retracement to the downside giving us a cleaner entry for taking a long but that didn’t happen. When it comes to trading you can’t force things. You need to have a trading plan because failing to plan is planning to fail and more importantly you need to STICK TO YOUR PLAN. It does look like we are retesting support, we need to see how we react around these current levels.
GBPJPY Market Outlook | Daily Forex Market BreakdownGBPJPY
Looking very interesting, I would have liked to see GBPJPY come a bit lower and reject off the 61.8 fib we got close but we technically didn’t reach it. Similar to the gold long last week that I was looking at we seemed to have rejected right before it. I am keeping a close eye on GBPJPY for possible longs soon I believe we could push up to around 134. As I just said I would have liked for us to come a little lower and give us a clean rejection off the 61.8 fib but that might not happen and we need to be adaptable.
GBPJPY Buy LimitWe saw that the trade did not go as we expected , but now I am waiting for it to finish the pullback at around the marked area and if we see that there was positive price action moving our way , we can enter the trade. I have set a buy limit at that point , so you can expect the trade to happen at any point soon
Buy Limit : Entry : 126.955
S/L 126.428
T/P 1 128.859
T/p 2 129.630
GBPJPY Market Outlook | Daily Forex Market BreakdownGBPJPY
GJ is developing really good. We need to be extra patient with this pair right now, it’s too early to make a decision. We need to let it play out a bit more. If support can hold we could see a big push to the upside, that being said if we can see a big break below support we could see a violent push to the downside.
GBPJPY reversed from resistance, potential drop!
GBPJPY reversed off its resistance at 130.689 where it could potentially drop further to 126.582.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
GBPJPY LONG! Price Trading Above Two buy-ZonesCheck comments section for future updates on idea.
Like this idea?
Like, Share, Follow, and Support this channel for yet better content.
Thank you and
Happy Trading
fibo-rejection at 786 - intraday trade for GJpound- Yen has a rejection of the fib level 786 and we expect a natural retracement to hit the -27 level of this ABCD trade. Our tp area is in the 137.000 zones. it is a range of 230 pips. we will monitor this trade. used RR: 1:5
GBPJPY LONG! Two Setups on Daily Charts Currently price is trapped at Buy-Zone that could act as support or Resistance for Potential Long-setup on Daily charts.
Waiting for further price action is best strategy prior to locking trade position.
Check comments section for future updates on idea.
Like this idea?
Like, Share, Follow, and Support this channel for yet better content.
Thank you and happy trading.
GBPJPY Market Structure AnalysisIf it is useful for you, support that with your likes/comments and if you have your market view, please share it in comments
also, you can ask me questions...
Have a great day everyone!
