Gbpjpysell
FURTHER SELLING OPPORTUNITY ON GBPJPY I am looking out for price to move to the level of support marked around 140.168. From this level , price then has potential to retrace up to 142.239 before making new lows to meet our targets marked as take profit one and two.
Always manage your risk, risking no more than 2% on the trade.
Stop loss, take profit levels and entry point have been marked. Trade will be updated accordingly.
Wishing you all a good trading week.
GBPJPY Analysis ( Short)The currency pair continues to lose ground against the US dollar, sliding deeper under the support at 143.00 and headed to the target at 142.00 A breach through this level could lead to a test of the next support at 141.200 and could be sign for further negative moves for the Cable. If the bears lose momentum, the bulls can take control and try to bring back the price to the levels from the beginning of the week towards the resistance zone at 142.600 and test of the next level at 143.300 Here a successful breach would confirm a positive momentum for GBPJPY
GBPJPY sell 143.200-143.400 SL 143.700 TP 142.200 TP2 142.166
GBPJPY MARKET STRUCTURE LINED UP WITH ELLIOT WAVE SETUPThis analysis shows an example of how Elliot Wave forecast used to line up with other technical indicators.
Here I'm anticipating a sell-off in GBPJPY to complete a regular Elliot Wave pattern. This pattern is most likely to complete within the blue box on the chart.
As you can see, the blue zone lined up with minor demand/support zone, the third bounce of ascending trendline, and 50-61.8% Fibonacci ratio.
I will keep eyes on it to see how it played out!
What is your bias on GBPJPY? Let's chat in the comment!
Best,
Veejahbee.
GBPJPY SellGBPJPY Sell
**Disclaimer**
the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
_________________________________________________________________________________________________________________________________________
Thank you for your support!
Tradewithsam
GBPJPY 1H SellGBPJPY 1H Sell
**Disclaimer**
the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
_________________________________________________________________________________________________________________________________________
Thank you for your support!
Tradewithsam
GBPJPY 1H SellGBPJPY 1H Sell
**Disclaimer**
the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
_________________________________________________________________________________________________________________________________________
Thank you for your support!
Tradewithsam
GBPJPY Weekly OutlookGBPJPY Weekly Outlook
**Disclaimer**
the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
_________________________________________________________________________________________________________________________________________
Thank you for your support!
Tradewithsam