Gbpjpyprediction
MY VIEW ON GBPJPYas shown in the H1 chart, the price is now completing the right shoulder to complete a HEAD AND SHOULDER chart pattern which is a strong selling pattern, and it has formed a minor bullish channel in H1 therefore when the price breaks lower trend line it will fall and complete a second shoulder then when it breaks and retests the neckline it may fall to 160.41 and if the movement will be strong it may go further to 158.00
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.
GBPJPY SELLS w; bullish but its been rejected from the same resistance twice so I am expecting some bearish moves
d; ranging
4h; ranging
for any shorts ill be looking for the price to break the range zone, the previous HL, the s/r zone with a momentum candlestick, and below the ema's 50/20
1h price action confirmation and below the ema's
GBPJPY IS FALLING - SELL !!Hello traders,
Yesterday we shared analysis on the potential short opportunity for GBPJPY, the trade is playing out exactly as anticipated.
Expecting greater momentum to the downside to the specified target (159.00) .
Let me know if you have any questions below.
God bless,
ETGL TEAM <3