Gbpjpy_outlook
GBPJPY DAILY OUTLOOK 1 MAY 2017Watch out the Daily resistance area at 144.8. If candle close today rejects the area, possible pullback to its nearest support at 142.8.
Best is to wait for price to react and give a clearer trend direction.
GBP JPY long term playBrexit + risk off in the world today may break demand zone and then there is no bottom till 126.
GBPJPY - Long Term Outlook - Buy OpportunitiesLooking ahead to the Spring/Summer trading season. Since the beginning of last December the selling of the Pound vs. the Yen has been quite steady..as we do see some buying opportunities ahead at these several noted reversal zones. I am very cautious of the 126.80 area as we could see a hard push from institutions to re-test the 2011 low of the 166.80 area, so putting a buy in there could be catastrophic to an account :)
Good Luck Traders.
GBPJPY: Don't saying it willBut should be considered as a risk for all that are over-leveraged gambling on breakout. Just a bit of healthy caution is all :) May break out and rally for a lifetime from current level ofc. But then again, it may want to taste a bit on the sweet lower part too. Right at this zone it is still risky.
Wait For 50% RetracementThe 50% retracement support have been tested before. RSI and Stochastic haven't hit bottom yet. If the macro economics is going with the stream, it would hit 50% fairly soon, and we'll see if it reverses.
GBPJPY Elliott Wave cycles on the weekly.s3.amazonaws.com
GBPJPY Elliott Wave cycles on the weekly.
It's not a true impulse because wave 5 far exceeds wave 1. Without Brexit I believe a clean impulse would've occurred..
Regardless, I think we'll test the 50% again (first week of April), before bouncing up for the C leg.
If 50 retrace breaks down the ABC correction could still be in play a week or two later.
Look Out For The BreakoutJPY posted mixed economic figures, while GBP is not posting anything of importance today. A falling wedge has formed and is looking to breakout momentarily. Stochastic crossing close the the 20. mark. RSI and MACD rising. Note the strong support 2017-03-09 (see volume on the day).
My best guess it's a bullish breakout, if any. Yet, I'm waiting for the confirmation first.
GBPJPY Price go in the Triangular zoneHi traders!I hold a point:Good charts does not more words to explain! Good luck!
GBPJPY flag squeezeWatching and waiting for this one to pop. Will it follow the last big break back at the beginning of NOV and continue long or will it pull back from the price stall? Keeping an eye on this one, could be a big move.
GBPJPY Possible Buy Set UpIf you want to keep updated on this trade click the link in my bio and join our FREE signal group!
Breakout Friday, Confirm TodayIt might rest and profit take around the 200MA, but it can't make new highs the past weeks, so I trust this one to fall over the next month. I have a large SL and will hold this for a long time. Currently it's at a good entry point, for anyone that might believe the short idea. Keep an eye on the event schedule, for any indications people might go out at around 200MA.
GBP/JPY Wedge BreakoutWe have been trading within a nice wedge since Mid January. We finally got a breakout this week and a nice bearish engulfing bar. I'm looking for a retrace back toward 140.50 to find some price action and reentry short. UK yields have been falling hard and more money is flowing to safe havens like Gold/Yen due to the uncertain state of the global economy.
GBPJPY - SHORT then LONGWe look to go short for the interim...However, the overall market structure would be to go LONG at the Flag Breakout.
GBPJPY triangleGBPJPY is forming symetrical triangle on 4H/Daily After a big drop this week.
Next week we will see breakout up or down and its gonna decide next huge movement.
Keep eyes on that pair guys. Here is chart for information and overview of GBPJPY
GBPJPYExpecting the same kinda movement happened in the past as highlighted in the yellow box. I think the price can go back to 137 level. Let's see !!
(GBPJPY) - 4hr analysisLonging based on :
- Broken trendline
- Trendline retested several times
- Flag in the making
- buying pressure
