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Gbpjpyforecast

GBPJPY - FUNDAMENTALS WITH SECHNICAL BIASCurrently, GBPJPY is going down a bit due to MARKET RISK OFF. We expect GBPJPY to go UP again. Anyway, that PRICE can fall on the SUPPORT LINE on the GBPJPY chart again. After that the MARKET can go UPSIDE. You can definitely buy at the GBPJPY 168.69 level. For that, MARKET RISK should be ON. But we can sell GBPJPY up to 158.60 LEVEL according to the STRUCTURE. The reason for that is the idea that the MARKET SENTIMENT in the OVERALL MARKET will be RISK OFF in the coming days. We must pay attention to MARKET SENTIMENT.
by benny_marshall
1
800+ PIPS TP hit in GBP/JPY, how to trade it now?Dear traders, if you have been following my updates you already know that we have been selling GBP/JPY since the price hit 168.40 and we have secured 800 pips profit when price dropped to 160. Since then, GBP/JPY has retraced quite strongly after hitting the 100-day EMA at 160. Currently, GBP/JPY is in a tricky area and it is a little difficult to anticipate the next move. That being said, 166 is a minor resistance level and I might try a small sell only if bearish price action happens at 166.
by KaltoireCapital
6
Watch out for a double top! Potential sell trade in GBP/JPYDear traders, in the 4hour chart of GBP/JPY, you can see that a few bearish candlesticks have formed in the resistance level. This could be a potential double top from where price can decline. GBP/JPY is also over extended from it moving averages in all the major time frames which means that a correction could be well on the way. If price is unable to break the resistance level, I recommend traders to sell GBP/JPY@168.10-168.60 with SL above 169 and TP at 163.
Short
by KaltoireCapital
11