Gbpjpytrade
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 approaching intermediate resistance,potential reversal!
GBPJPY is approaching its intermediate resistance at 139.382 where it is could reverse down to its support at 135.753.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
GBPJPYTime = 1H
– Structure = Uptrend
– Pattern = Elliot wave
– Tendency = Downtrend
Time = D
– Structure = Downtrend
– Pattern = Fibb Retracement
– Tendency = Downtrend
*** Price tested & Couldn't fully breakout 0.618 Fib Resistance.
** Above Chart indicated with Heikin Ashi FOR CLEAR VISION!
GOOD LUCK
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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
FURTHER SELLING POTENTIAL ON GBPJPY Price is currently at a point of support where we may see it retrace to our marked entry point before advancing lower. Entry, stop loss and take profit level has been marked.
Do not risk more than 2% on this trade.
GBPJPY Short - 2nd try..Good morning GJ.. shorted "the beast" very late for the second time which went as predicted with +4R
GBPJPY 4Hr Long! Choose Your Targets!
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GBPJPY Exiting the Wedge/ChannelSigns of Bearish GBPJPY:
- Weak GBP
- Strong YEN (powered also by weak OIL)
- Wicks from above at 1hour
- Rejected by RSI 50 at 4H (going back down)
Wait for the break of triangle at 1 hour before shorting.
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GBPJPY Up Move Rejected - Consolidation Channel Entered. SELLGBPJPY showed a sudden, strong upward move some hours back, but the upward move seems to have lost strength around the current levels of 132.950, which is a strong resistance level for the 1H chart. I see this pair now entering a consolidation channel, hovering between 132.950 and 132.750 levels. I would go short on this pair for the near term, placing a take profit level around the 132.750 levels and wait for a clear trend to show.
GBPJPY ShortGBPJPY Short - second leg worked out fast + 6,5RR and must say with superb precision also with 0 DD
GBPJPY short position in near termAs can be seen in the chart, GBPJPY is not being able to sustain an upward move, and as soon as it rises, short sellers are rushing in to push the prices down. It is currently testing the current support level of 132.770 for the 4th time, so I expect it to break this support level for a move down to 132.590.
