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Gbpjpysetup

GPBJPY: THE RISE BEFORE THE FALL!GBPJPY has been in a major ascending channel which has formed it's own smaller channels within it forming a multi-level structure and it gives a good indication of following through for a completion and market sentiment seems to favor this as well. Currently price is ranging on the inner 1Hour Timeframe channel and is showing signs of touching the lower inner trendline once more before taking off topside to the 152.500 area. Of course, we shall be waiting for more confirmation as the trade plays out and we expect to see rejection candles when we reach the upper trendline acting as our resistance zone. Completion of this price structure will give us a nice sell to the downside to the 150.100 zones and possibly lower still. So for now we can take short term buys whilst we wait for the main sell trade ;) Please like, comment and subscribe so you don't miss any trade ideas, and most importantly; grow in your trading ! Happy trading ! OANDA:GBPJPY
Short
by Fx_Boulevard
GBPJPY Short (Sell) Trade Daily SetupSimilar to GBPUSD, this pair is making it's way closer to a strong sell zone. In fact, there are two sell zones in close proximity. On lower time frames (2H + 4H) we can see price has been slowing down, accumulating buy orders and pushing up towards these key levels. From the two supply zones, the lower one is weaker and both are untested. Keep an eye on price action on lower time frames for any indications of a potential change in trend. We may not drop, we could fall into a range first, in which case, I will update with further charts.
Short
by AEFX786
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