GBPJPY Entries + Exits for FREEThe ENTRY/TP zones are your entries as well as your exits.
Everything above the current candlestick is resistance, you would treat every zone above as a sell/potential buy break.
Everything below the current candlestick is support, which you would then treat every zone below as a buy/potential sell break if it hits the pip rule.
More info on the strategy and how to play it:
How To Play The Chart Entries/Exits:
Buy at green support entry, if it breaks by -35 pips (count it out) then enter a sell and ride to TP1, 2 and 3. Trail stop at each TP which means place your stop loss in profit but with enough room to be able to continue the sell if it continues. Same thing at resistance, sell but if broken by 35 pips then enter the buy and ride to TP1. Each TP is a support or resistance zone , so you could then even take a sell after TP1 for the buys have been hit and if it breaks out then just repeat.
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Gbpjpyidea
GbpJpy is in strong support zoneSince 158 recent top, GbpJpy fell like a stone around 1k pips in a very short period of time.
At this moment the pair is trading exactly in support, a zone that acted as resistance in 2018 and 2019.
I expect a correction from this zone and 152.50 could be the buyer's target.
A clear drop under support would negate my outlook and could lead to continuation to the downside
If you decide to trade this pair you should be careful with SL
GBP/JPYThe British pound fell a bit last week as we have seen a major “risk off” attitude approach the markets. All of that being said, the market is very sensitive to risk appetite as the Japanese yen is considered to be a major safety currency, while the British pound will gain against it in times of “risk on.” At this point, it looks like there are serious cracks in the marketplace, and a move below the ¥149 level on a daily close could send this pair down to the ¥145 level rather quickly. Regardless, even if we rally from here, the market would have a lot of proving to do in order to become bullish.
GbpJpy can rebound to 152.50 resistanceIn the past 6 weeks, GbpJpy fell hard, from a top around 158 to a low just under 150.
At this moment the pair is trading in a strong support zone and a rebound is probable
Buy dips under 150 can be a good strategy for a rise to 152.50 resistance and a risk:reward ratio of 1:3
GBPJPY SHORT TRADE AGAIN!Got some nice positions on this pair yesterday and took 50% profit at 153.500 then got stopped at breakeven with the remainder. Ive entered shorts again off that 154.000 resistance and hoping to see price attack that support again at 153.500 and possibly lower, bit of a slow week so will be taking some profits again at 153.500
GBPJPY BUY AREA 152.750Ill be stalking the area of 152.750 for possible buy trades if we see more rejection here. Remember to keep a strict risk management plan! Sometimes if I'm placing trades at the same time with same currency crosses for example GBPJPY GBPUSD I will half the risk because if we get a huge weakness out of GBP it can send 2 trades into a loss...if you know what I mean
GBPJPY another leg down or fake move??Looking at jumping on any quick moves out of 152.800, this quick sell off could have just been a fake move to attract more short sellers before making another push up... but am well aware of overall price downside structure so will respect a further downside move as well
GbpJpy- 153.50-154.00 is my buy zoneAfter it has reached a high at 158, GbpJpy has started to drop but let's not be fooled, this is just a correction to the recent leg up.
Also, the overall trend is strongly bullish so, the safer way to trade is on the buy side.
From the technical point of view, between 154 and 153 there are a lot of indications of support including horizontal support and Fibo 50%
That being said, i will look for buy signals in that zone with a target around 160
GBP/JPY Full Analysis And New Long Setup After Daily Closure This is an educational + analytic content that will teach why and how to enter a trade
Make sure you watch the price action closely in each analysis as this is a very important part of our method
Disclaimer : this analysis can change at anytime without notice and it is only for the purpose of assisting traders to make independent investments decisions