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Gbpjpydaily

GBPJPY dropping nicely from resistance, potentially more bearishGBPJPY is testing major resistance at 149.86 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) and a strong reaction could occur at this level to push prices all the way down to major support at 147.14 (Fibonacci extension, horizontal swing low support). Stochastic (55,5,3) is seeing major resistance below 94% where a corresponding reaction could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill
1
GBPJPY Setting Up Nicely For A PlungeGBPJPY is right on major resistance and is setting up nicely for a plunge from here. Sell below 149.86. Stop loss at 150.76. Take profit at 147.14. Reason for the trading strategy (technically): Price is seeing major resistance below 149.86 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) and a strong drop from here could push prices all the way down to major support at 147.14 (Fibonacci extension, horizontal swing low support, Fibonacci extension). Stochastic (55,5,3) is seeing major resistance at 94% where a corresponding reaction could occur.
Short
by theforexarmy
GBPJPY testing major resistance, potential drop!GBPJPY is testing major resistance at 149.18 (Fibonacci retracement, bearish divergence, horizontal overlap resistance) and a strong drop could occur at this level to push price all the way down to major support at 147.50 (Fibonacci retracement, horizontal swing low support, Fibonacci extension). Stochastic (89,5,3) is also seeing major resistance below 96% where a corresponding reaction could occur. We’re also seeing bearish divergence vs price signalling that a strong reversal could be approaching. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill
GBPJPY DivergenceGBPJPY has been in an up trend channel for a while and all the while the indicators have not confirmed the move. As you will notice the MACD and the RSI have been making lower highs while the price action has been rising. This is the definition of divergence or non-confirmation which suggests that the rally will soon come to an end. A lot of times knowing when the actual high is upon us is the hard part thus making it difficult to execute a trade with confidence. That is where the rising channel comes into play. Price has made its way to the upper part of the rising channel and is finding resistance which if these levels hold will provide a ceiling from which price can move lower. At this point the risk to reward appears to be favorable for a short trade given the price action that we saw on friday. So long as price can stay below the recent high then I will be targeting the lower trend line.
Short
by Andy_Garcia_CMT_CFTe
2
GBPJPY : GBP/JPY Formed Bullish Pin Par on Key SupportGBPJPY : GBP/JPY Formed Bullish Pin Par on Key Support As we know that 148.00 area of gbpjpy is a key support zone, It is Reversal zone for gbpjpy and market bounced from here earlier, similarly gbpjpy formed a daily base price action after touching 148.00 key support zone called Bullish Pin Bar. So we can take gbpjpy bullish on retest of mentioned D1 bullish pin bar which it has already done as you can see, so we can buy it @ CMP with tp of 153.00.
Long
by PkTk13
2
GBPJPY : IS THE RISK WORTH IT?Hi traders! GBPJPY is standing in a funny place. After a huge bull run was over, it was met by a healthy retracement. I'm getting plenty of different signal from this chart. I have 2 set of FIB extensions set in this chart because the up move was too strong and have super big gaps between the extensions. I have one for the weekly & one for the daily. Also, I added a order block which has been bought and put the price over top of it. The price close over the daily 0.5 and it just under the 0.5 weekly. The RSI is saying the me that they are still more buyers than sellers for this pair. MACD is about the cross... but right on the edge of it. So I'm looking what the GBP is doing vs other pairs and it looks positive. The same can be said of JPY who has shown weakness the last few days. If the price finds the momentum to go up, it will be a very nice push! For all those reasons, here's what I'm seeing : GBPJPY LONG ENTRY : 149.90 SL : 149.117 TP : 154.306 Trade safe! Disclaimer: This is my trading analysis, it is not an invite or recommendation to trade.
Long
by ScottMescudiForex
2