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Gbpjpyidea

GBPJPY - Change in scenario and downtrendIn the weekly chart, the 5th wave of the Diagonal pattern is not completed yet, the B wave from this point is completed in the range of 156.11. In C wave there is a possibility that a Diagonal pattern is formed, which we are currently in C wave from point 3 of this pattern ( Weekly Chart ) In the daily chart Wave 2 of the Diagonal pattern is in the form of Expanded Flat, which is completed in the range of 147.96. In wave “3”, the first wave “A” ended in the range of 124.08 and wave B ended with a 3 wave movement in the range of 142.71. currently the price is in wave III from point 3. ( Daily Chart ) By monitoring the details of sub-waves in the 240-minute chart, the wave ii from point 3 in the range of 140.70 and has been completed with the Diagonal pattern, which confirms the completion of the price crossing in the range of 138.80. Also, to receive the confirmation for the downtrend, the price needs to break the range of 134.37 with 5 downtrend waves. Also, the targets of this downtrend in the daily chart can be in the range of 124.80. And the main target is in the range of 112 to 114.
Short
by NirmataFX
GBPJPY - Initial targets of the uptrend 145.00The analysis of this currency was very mixed at first, by referring to the monthly and weekly time frame. In the monthly chart, the price is forming the Diagonal pattern in the 5th wave. the weekly chart shows the structure of the waves, which shows that the price is in the B wave from the V point. We knew that the specified movement in the blue box was corrective and had the structure of WXYXZ (Complex wave). (Weekly Chart ) in daily chart , B Wave from V point is probably in the form of Double Zigzag, which of that W wave is finishing in the range of 156.611, and the X wave is ending in the range of 124.08. Given that it is Double Zigzag pattern, we expect a 3-way uptrend in the C wave, which is determined by the Fibonacci percentages in the range of 157.00, this range is the weekly and monthly and the very good area for B wave to be completed. (Daily Chart) But in the 240-minute chart that was shared, we had a good response to the daily channel line, and currently the price is located in the iii wave. The reason we chose the 145.00 range as our primary target is because it is the end of the channel. We will monitor this currency more in the future.
Long
by NirmataFX
GBPJPY Top-Down AnalysisHello Traders, Here is the Top-Down Analysis of GBPJPY (Monthly, Weekly, Daily for direction and 4H for entry) for Week 49 - Dec 02 M > Market is respecting downward resistance trend-line. Price faced rejection at resistance level and moved down and is now returning back to test resistance trend-line again. W > Price has also respected upward trend-line as support and is currently testing weekly supply zone. We can see a W formation however price has already completed the formation 2 weeks ago with the pull back. Price can continue with its rise. D > In its upward move price formed and completed another W formation. We can see bearish divergence which can provide us some correction to the downside followed with continuation of upward move. As per COT GBP added major Long and few Short, slightly improving net positions, N-R have also added major Long but closed few Short positions, improving cumulative net positions. BXY gained strength during the said period however after gaining strength it closed on a weak note last week. Institutions have been closing Long since August and increasing their portfolio of Short, about 10K Short added in last month. Hence weak GBP can be expected in long term. JPY saw addition of major Long and some Short positions improving net positions massively in comparison with last report. JXY received a pump up during the said period but but weakened a bit last week. 4H > Price has shown loss of momentum and a correction to downside can be expected that will provide us a nice Long entry. Currency Correlation > Price has positive correlation with NZDJPY, GBPUSD, GBPCHF and AUDJPY. This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section share your view or ask questions. Thank You AP17FX
Long
by AP17FX
GBPJPY 800 Pips/8% Account growth expected will it reach 145.00?GBJPY ********* ⏳4 Hour chart 🎲 Possible entry analysis ⛳️ Possible bull/bear target 📚Educational —————-❇️——————- Detailed analysis 💬 1️⃣ Price above Point of control-Volume profile 2️⃣ Bounce from lower trendline 3️⃣ Broad weakness of USD, Positive brexit talks 4️⃣ 138.00 Dynamic support and resistance 5️⃣Bounce from 134.00 Key psychological level 6️⃣ 135.00 will Acted as strong support 7️⃣ Technical support - Bull 8️⃣141.500 will acted as key reversal-bearish 9️⃣ July high-Immediate resistance-Alternative bearish entry 🔟 Possible swing target-145.00 psychological level #️⃣ Overall bullish trend-Within converging triangle pattern —————-❇️——————- 📉 Technical bias-H4-Bullish Price is around 50,100,200 Exponential moving average 100,200 Exponential moving average will act as support-Bull Relative strength index - Reached 60- Still it has some room for the bull MACD -Turned green and well above signal line, oscillators pointing upward Stochastic - Reached 75- overbought condition short term fall back expected Ichimoku cloud -cloud is still green-Price is above the cloud-Middle line support Bollinger band- Price reached around the upper band-Short term bearish correction towards middle band —————-✳️——————- Key reversal area's 136.000 psychological level 142.600 August month high 139.730 July month high 136.050 50% Fibonacci retracement level 140.00 Major psychological level 136.400 Possible entry- Bull 141.500 Trendline resistance/Alternative bearish entry —————-✳️——————- Bullish entry #poundr #gbpjpy Entry price - 136.400 Take profit 01 - 138.400 (180 PIPS) Take profit 02 - 141.500 (475 PIPS) Take profit 03 - 145.000 (800 PIPS) 🚫 Stop lose 135.400 ⬆️ 6.3% Growth expected ⤴️ Account growth .73: 6.3 ✅ Risk reward ratio 1 : 8.5 —————-⚜️——————- Push the like button , And cheer up if you found useful
Long
by forexorbit
GBPJPY GROWINGGBPJPY The price seems to be walking on a channel and right now im hoping for the price to break the small dotted line to touch the bigger channel which is a daily channel that has respected before as a floor, after that im hoping for the price to grow and reach the middle line. . . . . . El precio parece estar dentro de un canal a la alza y en este momento espero que el precio rompa la linea pequeña para volver a respetar la linea punteada mayor , ya que esta linea ha sido respetada antes como un piso en el canal en temporalidad diaria, después de esto espero que el precio vuelva a subir y toque la linea media.
Long
by anaju17
GBP/JPY BUY IDEAHey tradomaniacs, welcome to a new free trading-setup. Notice: This is meant to be a preparation for you! As always we need to wait for a confirmation. GBP/JPY: Daytrade-Preparation Market-Buy: 136,440 Stop-Loss: 135,830 Target 1: 137,040 Target 2: 137,335 Target 3: 137,790 Target for One-Target-Trader: 137,335 Stop-Loss: 61 pips Risk: 0,5% - 1% Risk-Reward: 2,24 LEAVE A LIKE AND A COMMENT - I appreciate every support! =) Peace and good trades Irasor Wanna see more? Don`t forget to follow me. Any questions? PM me. :-)
Long
by Trading2ez
GBPJPY Top-Down AnalysisHello Traders, Here is the Top-Down Analysis of GBPJPY (Monthly, Weekly, Daily for direction and 4H for entry) for Week 43 - 19 Oct M > Market is respecting downward resistance trend-line. Price faced rejection at resistance level and moved down. Price dropped to complete W formation. W > We saw an M formation and expected price to rise up to test the neck as our target. However price reversed short of our target from 0.5 Fib level on last bearish impulse. We now expect price to drop near -0.272 Fib level on last bearish impulse. D >Price faced rejection at daily supply level and is now testing next daily supply zone. We expect price to continue with bearish move and can set three targets on its way down at weekly and daily demand zones. As per COT GBP saw closure of both Long and Short positions improving net positions but still in -ve, whereas N-R could not gauge the same path and they went opposite with addition of both Long and Short. Commercials closed both Long and Short positions, Short for them reducing further to least for current year. BXY had further improved its position during the said week but it weakened last week. JPY saw addition of few Long but more Short positions reducing net positions further. JXY was lost its position for the said week but ended with a Doji. However JXY improved its position last week but again ended with a Doji. 4H > Price has successfully created LL and with current pull back has possibly created LH. We will monitor price action for break of daily supply zone. Currency Correlation > GBPJPY has positive correlation with GBPUSD, GBPCHF, EURJPY, GBPCAD and CADJPY and negative correlation with EURGBP and USDCAD. This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section share your view or ask questions. Thank You AP17FX
Short
by AP17FX