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Gbpjpyidea

GJ Analysis 30/09/2020Today is the first Asian session of the new month. We have some decent options for GJ tonight. 1) If the current level is held we should see GJ move up to resistance at 136.450 2) If we see a break of 136.450, wait for support to form on lower timeframes to validate buys to fill a 35-40 pip range 3) If we do not hold the current level or we break it later tonight, we can look for sells under the support at 136 looking to tap into the levels around 135.750 where we formed support in NY.
by rhf_fx
GJ Analysis 28/09/2020We are looking for a break of support at around 135.350-00. If this happens we would look for a resistance to form on the lower timeframes before looking to sell back down and fill the clean range down to 135 flat. The reason I am not looking for buys is that the upside is very choppy and there isn't a clean range to long into. However if we respect the support which we just broke back into, we should fill the range back up to 135.600. so that would be your buy opportunity.
Short
by rhf_fx
GBPJPY is heading towards South and approaching August low levelGBPJPY The price has reached the 142.720 which is low volume area there the price for rejected and resume the downtrend. At 142.00 major psychological level the bullish reversal also got rejected and head and shoulder patter has formed. Left shoulder is a August high price-141.616 and the head is a the September high- 142.706. And the price also bole the 141.00 level and 50% Fibonacci retracement level. On September 3rd the bullish trend line was clearly broken and series of lower low and lower high was forming which is signaling further downside fall. Minor H&S pattern is also formed near 141.00 level. Currently the price is trading near 140 which is a major psychological level an qc 61.8% Fibonacci level. Golden cross of 50,200 and 50,100 exponential moving average has happened. And the price is trading below the above mentioned moving averages. RSI is showing the downward growth and it’s felled below 50. In one hour timeframe the stochastic is going to drop as it’s approaching 80 level. On Elliott wave analysis the 5th wave is forming. If the price broke above the 140.00 we can short this pair a 140.500 level which is a 61.8% retracement of wave 03. Potential take profit will be around 138.00 level. Brexit and political developments is Japan make this pair as more volatile. BOE will make a dovish stance and a loose monetary policy as counterpart Please give us a thumbs up if u like our work and do follow us so that you can get a regular update about upcoming setups and ideas Disclaimer It’s not a financial advice. Do the analyze and take a decision.
Short
by forexorbit