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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 How can you support me : 1) Like my idea. 2) Follow me for more analysis Feedback : Please share your feedback in comments and this will help me to improve my drawing and analysis Note : This is purely for educational purpose.
by technicalwhale
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.
Short
by trendtrader
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