Gbpjpysetup
GBPJPY sell position.I am expecting a bearish movement next week. Early next week price should go up and create a some kind of resistance above from the current price. It will probably be near the last 4h resistance. Entry will be between 0.5-0.618 fibonacci zone in lower timeframes. Stops above the 4h resistance depending on the candlestick formations. Stops will be breakeven when it reaches the first support. Target is these support/structure zones (yellow retriangles, -0.27 fibonacci level).
GBPJPY Analysiswe have a good overview to make decisions base upon on our Ascending and descending trend-lines.
GBP/JPY, possible short term Sell by market.GBP/JPY is currently jumping around resistance area with not clearly breaking it. I am looking for a positive candle to be printed under the key level and then I would enter the market by accurate instant sell order.
GBPJPY, SELL on H4Probable Harmonic pattern
Recently it created a double bottom @ 131.90 zone
it might complete the harmonic pattern before going long buy.
we can take a short sell entry at 135.70
and target is near 133.70
GBPJPY, 4hr tf, 5th wave analysis of ELliott WaveBased on the 4hr timeframe we i tried to analysis GBPJPY movement using Elliott Waves principle. Wave 3rd finished exactly at 161.8 fibonacci expansion level while Wave 4th stopped at 38.2% fibonacci retracement of Wave 3rd.
Usually when the 3rd wave stopped at 161.8 fibonacci expansion of Wave 1, the 5th wave length will be the same with the 1st wave. The comparison of 3 impulsive waves will be a 1 : 1,618 : 1
We could try selling this pair with stop loss above the 4th wave top at 134.00 because if price move above that it means wave 5 is completed already.
For a better entry we will wait for GBPJPY to retrace a bit to 132.80-132.90 before selling it
Sell GBPJPY 132.80-132.90
Stop Loss 134.00
Take profit 1 at 131.70
Take profit 2 at 130.50
Good Luck
GBP/JPY Technical Analysis.Currently, GBP/JPY is trading at 133.01. The pair is consolidating in the resistance and support ascending triangle wedges. Previously, the pair was trading in a down trend and after touching support level it started consolidating in the resistance and support levels. If the price breaks the resistance level at 133.55, then it may start a new up trend and its target price will be at 135.59. If the price breaks the support level at 132.84, then it may start a new down trend and its target price will be at 131.85.
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Rishikesh Lilawat
New Update On GBP/JPY To Catch 400 Pips New Update On GBP/JPY To Catch 400 Pips
1- Broken Down Trend Line
2- Moving Average Crossed To Up Side
3- Previous Broken Res
4- New Supp Area
GBPJPY H1 Analysis GBPJPY completed the H&S pattern by breaking the neckline. Now that price has found a new level of support, I'll be looking for price to pullback to retest either the weekly key level which lines up with 38.2% fib level or the neckline which also lines up with 61.8% Fib level
New Update On GBP/JPY +200 Pips New Update On GBP/JPY +200 Pips
New Setup To Catch More Than 300 Pips
GBJPY multi frame analysisHello Trader, Here is the full analysis of GBPJPY:
1) Monthly - Prices are currently testing monthly support and if it break then it will test the 135.285 level.
2) Daily - We can see a retracement between 23 and 38 levels.
3) Hourly - We can prices are taking support at monthly level.
Action
With one hour prospect prices seem to be within weekly and monthly resistance and support. One can wait for either one to break and then take positions. If it falls below monthly then 135.196 will be tested and then possible up move will be seen. if crosses 141.028 then one can look for long position.
Technical Indicators:
Moving Averages Bullish
Technical Indicators Bullish
Moving Averages Crossovers Bullish
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GBPJPY LONG SETUPCurrently price rejecting 139.700 region.
I'm expecting price to retest around 134.500 - 135.500 before trying to break 140.000
GBPJPY LONG - WEEK 17-22thGBPJPY will follow the same trend as GBPUSD. Price will go up then have an extremely nice sell. TRADE GANGGGGGGG
GBPJPY Short trade opportunity! On screen analysis...Hi traders,
GBPJPY is a pair that I got on my watchlist and saw a great opportunity coming next week. I just wanted to share my trade idea with you guys.
As you can see on the daily chart, the market was in Consolidation. The Range of the Consolidation was broken on May 6th and on Friday we saw that the Neckline changed from Support to Resistance.
On the 4 hour chart you can see a Counter trend where I drew a purple trend line. A break of the trend line will give us a nice opportunity to go short on this pair.
The first target is based on a Fibonacci Retracement level of 0.618
The Second target point is the last Lower Low seen on the Daily chart
The Third target point is based on the Fibonacci Trend Extension level of 0.786
Be patient and always trade with care!
GBP/JPY, Daily Candle closed above the Key Level 132.00This close of the daily candle could expose the price more to the upside. I like this looks good.
