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Gbpjpyshort

GBPJPY SETUP Hello guys,As we see gbpjpy is moving bullish and now has reached near to its major daily resistance (167.677 )and there is really good sell opportunity. But as always remember dont enter right now wait until it gives confirmation on daily time frame which i think most probably it will give us at the end of this week or the start of next week than you can enter sell and you can get atleast 300+ pips . Enjoy the profit if you are having any difficulty let us know we will be happy to help you
Short
by ForexExpertt
GBP/JPY about to reach Resistance level, should you sell?After hitting the dynamic support level last week, GBP/JPY has rallied quite strongly. Price is currently just below the resistance level and looking at the momentum, it seems GBP/JPY has a high probability to reach the resistance level that I have highlighted in my chart. Traders should adopt a "wait and watch" approach for now and see the price action at the resistance level. If we see some bearish price action with rejection candles at the 166.40 level, traders can consider selling. Probable Trade Signal Sell GBPJPY@166.40 Stop Loss(SL): 167 Take Profit(TP): 163.51 The above signal will be valid only if bearish price action forms at the mentioned resistance level
Short
by YourLazyTrader
2
GBPJPY daily rejection at 164.68 since Dec 2022Looking at the price chart, we can see price has done a Change of Character, and it is currently pulling back so it can go for a Break of Structure. I am anticipating the reversal of the pullback at 164.50 - 164.74 region because :- i. We have an Order Block yet to be mitigated in that region. ii. We have 50% Fib Retracement level of wave A at 164.60 iii. We have a Trendline Liquidity around that region iv. Looking at the upward correction from 162.78, it resembles a Flag v. Looking at the Daily chart, I observed that we don't have any candle close above 164.68 since December 21, 2022, which I refer to as a Resistance/Supply zone. In summary, we have a small buying opportunity from 163.80 - 164.65 but I would recommend looking for selling opportunities instead because no candle had closed above 164.68 yet on the daily TF this year and I don't think it would be happening yet due to the confluences of selling signals we have. I would love to hear your thoughts 🤔, feel free to leave a comment ✍. Please like 👍❤ this idea 💡 if you agree, and follow me for more updates ❕❕❕
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by owlswift_fx