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Gbpjpyshort

GBP/JPY at a critical point: Buy/Sell or do nothing?GBP/JPY is at a critical level. In the daily chart, you can see that price is quite overstretched and a correction is necessary. However, in the 4H chart, price has rebounded from the dynamic support in the 168 level. So, it is important to exercise some caution. 168 is the key level. If this level holds, then price may continue to keep going higher. However, if 168 breaks with a strong bearish candle, we can see a fall till 165. My personal recommendation is to wait and watch. I would consider selling if GBPJPY reaches 172 again because that level has been established as a resistance. Initial TP would be at 168
by YourLazyTrader
2
GBPJPY fulfil my last idea, next setup?Gbpjpy is exactly moved according my previous analysis and nicely given us 400+ pips from the zone ( tagged ). Now Market is trading in chanel and I expect market will rise to the resistance trend line before drop. So wait for resistance for more selling, if market hold resistance line and reject from the area you can sell, SL will be very small from there and target is massive. Always trade safe and must use stop loss. If you like this idea kindly appreciate with like button.
Short
by pips-makers
GBP/JPY Rises to new 2023 peakSTRATEGY LONG British Pound Sterling Japanese Yen traded at 171.115 this Friday April 28th, increasing 3.864 or 2.31 percent since the previous trading session. Looking back, over the last four weeks, GBPJPY gained 4.63 percent. Over the last 12 months, its price rose by 4.84 percent. Larger bulls are likely to take a breather in coming sessions as 14-d momentum and RSI are at the border of overbought zone, suggesting that traders may collect some profits from three-day rally which accelerated on Friday. Pullback should offer better buying opportunities, with extended dips expected to find support above 168.00 zone (broken Fibo 76.4% level at / former tops of Apr 19/25) to keep bulls in play. Res: 170.00; 170.95; 172.11; 174.98. Sup: 137.00; 168.36; 168.00; 167.18.
Long
by DaveBrascoFX
2