Potential Bearish Bat on GBPJPYOne can either Trade C to D or The Dpoint of this pattern. we see a respect of red trendiness so be patient and wait on it!
Gbpjpybuy
GBPJPY Monthly possible 2618 set up So over the last week or so I have had ideas about getting long and each time I think we have had a double bottom we break structure and push lower.
So taking a step back from teh daily and weekly and having a look at the monthly charts we do have a possible s618 set up happening, this would coinside with the further push lower and also be in or arround teh over sold level on the RSI
GBPJPY 4hr 618 retracementLooking at a bullish view and seeing how we may see a rise.
We have had an impulse leg and 618 retracement, looking at the RSI possible harmonic move could happen taking us up to wards previous structure resistance. This would also be relevant to a B to C leg of a possible Gartley / Cypher
GBPJPY Long it part 2GBP pairs are very volatile due to Brexit, so be careful.
great ratio, best of luck !
GBPJPY LongWe have a broken trend line on a very unstable pair, considering brexit and all.
Don't risk too much on this pair as GBP acts really randomly, but with all that being said, this trade has a great ratio and we have already pulled back and am expecting upward movements to 157-158.
GBPJPY Double Bottom Daily ChartWe have come back down to a previous rear of support on the daily charts.
With the wick on the cuirrent candle we have rejected a push lower and I feel we will see mroe upside during the coming week/s
Good Luck
GBPJPY - BuyNOTE! The GBP/JPY is a clear bearish trend. However there are 3 (+1) mains reasons why the market may rally up a little bit.
1. Formation of the 3 White soldiers pattern.
2. The extension and retracement levels join the red trendline.
3. The .382 Retracement of the A-B leg falls on the same level is the extension of the a-b leg.
4. abcd pattern is possible.
GBPJPY - Buy at breakoutSunday analysis.
NOTE! The GBP/JPY is clear bearish] trend. But there is a possiblity for a retracement to the .382 level because the following reasons.
1. Three white soldiers pattern is formed and closed on the weekly chart.
2. The .382 retracement level of the A-B leg is at the extension of the blue A-B leg.
3. Red trendline falls exactly on the same level as the 2 set points.
NOTE: This trade can only be avaible if the previous resistance is broken.
GBP/JPY Long IdeaPrice may continue in downtrend to 160.907, if it breaks 160.621 then it'spossible for the price to down to the S&R level of 160.402. If so then look for price to retrace from 160.402 going in an uptrend and retest around 161.375 and retrace, look for a possible breakout "Long"
GBPJPY - FOREX MARKET ANALYSIS AND TRADING TIPS 29TH MARCH 2016SUMMARY:
The secondary trend of GBP/JPY is bullish on charts and price is trading above the trend line in its 4 hourly chart. In 4 hourly chart the price is sustaining above 50 day SMA and is taking support of 200 day SMA indicating uptrend of the pair. It is having an important resistance at the level of 164.10 and support at the level of 158.40. If it breaks its resistance level on the upside and sustains above it then we can expect it to show further bullish movement in the pair.
INDICATORS:-
MACD is sustaining in its positive territory indicating the bullish trend in the pair.
RSI is sustaining in its buying zone indicating the upcoming bullish trend in the pair.
STRATEGY:
GBP/JPY is looking bullish on charts for next few trading session. One can go for buy on lower level strategy for this pair for intra day to mid term positions in it.
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GBPJPY LONGGBPJPY is expected to rise now.
There are many reason why we feel it may rise.
01. It has not sustained quarterly buy level.
02. BULLISH Engulfing pattern in daily Chart.
03. It has gone way below the quarterly Low target. and chances are bright it may touch 190 very soon
04. Stoch RSI (3,3,14,Close) is not clear.
05. RSI(14,CLOSE) Is rising.
06. CCI(20,CLOSE) Is rising.
Keeping all the above indicators in view along with the chart pattern we expect it to rise. Our buy call shall be from buy above : 168.72 with a SL @: 167.66 Tgt01: 171.54 Tgt02: 172.71 Tgt03: 176.34. We are expecting this to happen shortly. Caution: The above is our personal view. Neither a recommendation nor a tip nor an advice for trade. Please consult your personal financial advisor before investing.
