Get started

Gbpjpy_outlook

Potential Head & Shoulders on GBP/JPYIf this pattern completes, the daily zone (green area) where the breakout occurred recently will finally be re-tested. Look for a candle to close below the pink zone on the 1H chart or the blue zone on the 4H chart in order to short the pair down to this area. The rule of thumb for trading a H&S pattern is the distance - in pips of course :) - between the head and the neckline is how far down you will set your take profit. What is your analysis of GBP/JPY currently?
Short
by Jabest
GBPJPY Playbook - Will 139.000 Key Level Hold? As GBPJPY approaches the 139.000 key level, I am looking for a bounce or a break. If price bounces then we will be looking to go long with an initial target of 141.000 and an extended target of 142.000. If we see a break of the key level, I will be waiting for a re-test of the 130.000 level to confirm its validity as resistance and set a short targets for 138.000, 137.000 & finally 136.000 I will update this idea if an actual trade setup forms.
by ImreSG
GBP/JPY - 300 Pips+ Long Term Short Opportunity GBP/JPY showed first signs of important weakness. It has moved down under all the ema's on the hourly chart to make it an important movement and could very potentially be a trend continuation pattern. If it does not hold support at it's current level, then I expect it to go down about 300 pips and more in the long term. Always trade after your own analysis as well as risk/money manage properly. Happy trading and wish you the best!
Short
by MoolahMaker
GBPJPY: Possible 390 Pips Big Move Up With a Weekly Outlook!Hi traders, after coming back from a nice 200 pip profit from the previous GBPJPY trade I'm looking for another 390 PIPS to the upside even tough the main trend is down. I've bought from the 23.6 fib as seen on the chart above and I'll long it until 61.8 to see how it reacts to the resistance line , a break of that would most likely mean that the bulls are back and we can expect to reach our TP3 target =145.400 My bias for this pair is still bearish and it will remain so as long as the 143.30 (71.86 fib) resistance remains intact , if it breaks then we can expect further upside to 145.400 to be realistic. Reasons to buy: Currently the pair has formed a nice Bullish AB=CD pattern and is probably making a correction. The MACD has crossed the signal line which indicates a buy signal Double Bottom Touched the 140.6 which is a very important support , indicates possible trend change! Bullish butterfly D leg completeion near the 140.6 support line Keep in mind that the Japanese Yen related pairs tend to be very risk sensitive. This is probably one of the most risk sensitive pairs, so having the stock markets rally simultaneously is a huge help for this market which can move 100 pips in the blink of an eye. The UK elections are tomorrow aswell at the time of writing, so have that on your radar because we can expect some big volatility !
Long
by cyrex
7