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Gbpjpybuy

GBPJPY possible sell & buy zone!GBPJPY (4h) had a strong liquidity grab on the last day of the last trading week giving us a possible pathway to buy and sell. As the weekly close, our price has formed a weekly doji just above a weekly resistance zone. From a daily perspective, we see GBPJPY has also grabbed liquidity from the support zone creating a lower high on the daily. From the 4H perspective, we could potentially see a retest of the previous resistance zone @ around 168.31. Upon rejection, we may see GBPJPY drop to the support zone @165.766, which is also daily support. A possible bounce from this level is expected to create a long-term upward channel. Therefore, upon price action confirmation, we could find bullish and bearish trade as sketched in the chart. Smash that like button if you find value in the analysis.
Long
by ForexWizard01
GBPUSD LONGGBPJPY is in a very strong uptrend when we look at the monthly time frame and the weekly time frame. We have seen some sort of bearish correction in the previous two months (July and August) which is a good signal to find an entry to the upside. The daily time frame also just trend bullish, this can be seen from the breakout of the symmetrical triangle/or trendline. We can also see that there has been a change in market structure on the daily timeframe which is shown by the breakout of the key level as show on the chart. With all these factors being taken into consideration, the result is a trade which currently stands at a risk reward of about 1 to 8. Targets are set using the Fibonacci tool. The monthly timeframe trend is in line with the weekly timeframe, which is in line with the daily timeframe creating a high probability trade.
Long
by NDOBObanks
2