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Gbpjpyforecast

GBPJPY 25/10/2022Price currently ranging in between 169.835 as resistance & 167.188 as support while also moving in respect to a higher TF uptrendline. Now if price breaks & closes above the resistance at 169.835, then we can expect price to continue pushing up creating higher high while moving in respect to the uptrendline. However, if price closes below the support, then we can expect price to continue pushing down to retest the next support at 165.009 by breaking the uptrendline.
by mightybullcapital
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
GBPJPY 21/10/2022So we are still ranging in between 169.313 as resistance & 167.574 as support. Also we have a shorter TF resistance level formed in between the ranging zone at 168.667. Now if price closes below the support at 167.563 on 30m TF then we can expect price to continue pushing down to the next support level at 166.972 or all the to 165.601. Similarly if price closes above the recent resistance at 168.667, then price might continue pushing up to the next key zone on the long side at 169.324 or all the way to 170.071 as shown in the chart.
by mightybullcapital
GBPJPY 20/10/2022Price has a recent support at 167.736 which its currently making a break out of & also it formed a resistance at 168.425. Price also just formed multiple lower lows while moving in respect to a newly formed downtrendline as you can see from the chart. Now if price respects the resistance & closes below the support, then we can expect price to continue pushing down in that downtrend to the next Support at 167.037 or all the way to 165.542 support zone as a retracement move after the huge bullish run on HTF.
Short
by mightybullcapital
1
GBPJPY 19/10/2022Price has a recent support zone at 168.400 & resistance zone at 169.337. And also price made a breakout of the HTF uptrendline as well signaling a possible retracement move in a newly formed downtrendline. Now if price closes below the support, then we can expect price to continue pushing down to the next key level at 167.810 or all the way to 167.047. However if price respects the support & breaks out of the resistance, then it might continue pushing up to retest the HTF resistance level at 170.119.
by mightybullcapital
2
GBPJPY 17/10/2022Price facing recent support at 167.073 after creating a new high retesting HTF resistance level at 167.846 while also moving in respect to a HTF uptrendline. So if price closes below the support zone, then we can look for trades on the short side expecting price to push down retesting the next support levels at 166.363 or 165.419. However if continue to respect the support & the uptrendline and makes a breakout of the recent high at 167.846, then we can look for trades on long side expecting price to continue bullish retesting the next resistance on HTF at 168.727.
by mightybullcapital
GBPJPY SHORT WITH 2 CONFLUCENCES List of confluences: 1: Trendline Breakout 2:Key Level Breakout and Change in Market Structure When looking at the larger time frames, we can see that GBPJPY remains bearish . We have also seen the market pull back which signalled a chance to enter in the direction of the bigger picture trend. We have listed 2 reasons as to why we will be looking to short/ sell the pair. The trendline breakout on the daily chart signals the end of a bear market rally. This is followed by the breakout of a key level which has been holding for about 3 months since June 2022. With that being said we might see an aggressive sell of GBPJPY.
Short
by NDOBObanks
1
GBPJPY 12/10/2022We can see price made a breakout of the retracement move's downtrend channel & came down again to grab liquidity on the support zone at 159.619 then started to face bullish momentum signaling a bullish continuation run on HTF. Now we have a resistance zone at 162.685 which GJ almost retesting, So if gj makes a break & close above the resistance zone on 30 min TF then we can start to look for trades on the long side on shorter tf in hopes of gj coming all the way up to make a retest on the next key zone at 164.405 setting your stop loss below certain structure in 30 min TF.
Long
by mightybullcapital