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Gbpjpytrading

GBPJPY: Medium term correction.GBPJPY is bullish on its 1D technical outlook (RSI = 59.018, MACD = 1.270, ADX = 45.334) but on a decreasing rate as the aggressive rise has taken a pause and the price, despite inside a Channel Up since August, has turned sideways since October 4th on the 4H MA50. We expect the bearish wave of the Channel Up to start any day now. Even though the previous targeted the 0.618 Fib, we will aim for the 0.5 this time (TP = 190.000) as the decline may start a little higher than the current price. Keep in mind that the best trigger to sell will be a 1D MACD Bearish Cross. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
GBPJPY: Bull Flag to start a great rally.GBPJPY is neutral on its 1D technical outlook (RSI = 54.480, MACD = 0.880, ADX = 34.811) as it's been basically consolidating since last Friday with the price ranging around the 1D MA50 and 1D MA200. This consolidation is being done while the 1D RSI shows a Bullish Divergence in a Channel Up. Last time this happened was in March 2023, a Bullish Flag that pushed the price later aggressively to the top of the 2 year Channel Up. We turn heavily bullish on GBPJPY (TP = 220.000). See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
GBPJPY: Inverse Head and Shoulders calls the bottom.GBPJPY got oversold on its 1D technical outlook (RSI = 28.124, MACD = -0.770, ADX = 29.222) as it was rejected today on the 1D MA50. On Sep 16th it touched the bottom of the long term Channel Up and rebounded, while the 1D RSI has been on a bullish divergence. We expect this bottom to be in the form of an Inverse Head and Shoulders. We are aiming for the 1D MA200 and the 0.5 Fibonacci level (TP = 150.500). See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
1
GBPJPY ( BREAKOUT DEMAND ZONE ) ( 4H )GBPJPY HELLO TRADERS Tendency , the price is under bearish pressure until trade below turning level . TURNING LEVEL : the price of turning level around 203.463 , indicates the price trade below this level reach a support level , but if trading this level reach a resistance level . RESISTANCE LEVEL (1) : around 205.601 , for reach this level will be breaking turning level . RESISTANCE LEVEL (2) : around 207.938 , for reach this level it will be breaking by open 4h or 1h candle above resistance level (1) SUPPORT LEVEL (1) : support level at 201.362 , for reach this level will be trading or stabilizing below turning level . SUPPORT LEVEL (2) : support level at 199.532 , for reach this level will be breaking by open 4h candle below support level (1) . CORRECTIVE LEVEL : the price retest before dropping at 203.463 . TARGET LEVEL : RESISTANCE LEVEL : 205.601 , 207.938 . SUPPORT LEVEL : 201.362 , 199.532 .
Short
by ArinaKarayi
GBPJPY: Bullish continuation. 1D MA50 in full support.GBPJPY is almost overbought on its 1D technical outlook (RSI = 69.343, MACD = 1.720, ADX = 59.150) and is extending the bullish wave inside the 16 month Channel Up. The overbought technicals shouldn't be a factor for a bearish reversal as long as the 1D MA50 continues to support. We are confident with buying, aiming at the top of the Channel Up (TP = 208.000). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
GBPJPY: Head and Shoulders formed. Sell signal.GBPJPY is neutral on its 1D technical outlook (RSI = 50.345, MACD = 0.240, ADX = 29.640) as the recent bullish run came to an end on the HH trendline. For now the 1D MA50 held but the peak pattern formed is a Head and Shoulders. The 1D MACD is on a Bearish Cross, so the short signal is complete. Our target is the S1 level, potentially a contact with the 1D MA200 (TP = 185.500). See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
2
GBPJPY: Systemic Top being formed. Sell.GBPJPY is on a bullish 1D technical outlook (RSI = 65.529, MACD = 1.210, ADX = 62.251), which is a natural consequence of the strong 3 week rally since the January 2nd bottom. However this rally appears to have come to an end as not only has the price hit and got rejected twice on the R1 level (188.660) but the 1D RSI has also reach the top of its six month Channel Down and is reversing. The price action's HH trendline is a little higher, so we can allow some space for a final blow off top before a selloff. The Sine Waves so a clear and very consistent Peak-Bottom pattern and right now the price is exactly on the Peak. Consequently, we consider the current price level as a low risk sell opportunity. We are targeting the 1D MA200 (TP = 182.350). See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
GBPJPY: Strong 1D MA200 buy opportunity.GBPJPY remains bearish on the 1D timeframe (RSI = 34.266, MACD = -0.180, ADX = 42.349) despite today's rebound following yesterday's bottom near the S1 level. The key here is that this bottom was made very close to the 1D MA200, which hasn't been crossed since April 6th. The 1D RSI almost got oversold for a moment (near 30.000) yesterday, so all indicators point towards a rebound. We are bullish, targeting 188.00. If we get a 1D candle closing over the R1 level (188.660), we will rebuy and aim foe the HH trendline (TP = 190.000). See how our prior idea has worked: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
1
GBPJPY: Hit a 2 year Resistance. Hard fall possible.GBPJPY hit today the top (HH line) of the Megaphone pattern that started on the May 24th 2021 High. Tha last time it did (April 18th 2022), the price got rejected back to the 0.618 Fibonacci level and the 1W MA50. Right now the 1W MA50 is already near the 0.618 Fibonacci and is headed towards the 0.5. With the 1W technicals vastly overbought (RSI = 75.716, MACD = 4.620, ADX = 61.529), we expect a hard landing for the pair and open a long term sell targeting the 0.5 Fibonacci (TP = 170.000), where not only we project contact with the 1W MA50 but is also where the HL of the Rising Wedge is. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
4
GBPJPY Rebounded on the 3 month Rising SupportGBPJPY is trading inside a Channel Down for the past month. The price hit today the 3 month Rising Support that started at the beginning of the year. Trading Plan: 1. Buy as long as the Rising Support holds. 2. Sell if the Rising Support breaks (i.e. closes a candle under it). Targets: 1. 162.000 (top of Channel Down and under the MA200 (4h)). 2. 157.000 (Support Zone (1)). Tips: 1. The RSI (4h) is rebounding after hitting the oversold limit. This is technically a short-term bullish sign. Please like, follow and comment!!
by TradingBrokersView
10
Pound Yen is about to take off to 166.426Hey trader. I hope you having a fantastic week! The price is currently running in the double bottoms 2nd leg formation and above the 50 and bullish crossed short-term MA's. We're expecting an uptrend to the double bottoms neckline for the accumulation phase formation. The price will react to that anticipation once it has bearish retested the Daily Half a Bat Neckline, 50 and 8 MA with a bullish candle formation or close. But if the price bearish breaks and closes below those key levels, the uptrend will be rejected, then a drop to the Mini Monthly Neckline may occur. That's it for today. I hope you found value in this article. If you have a different concept in mind, feel free to share it in the comments section (below), I'd love to know your thoughts! Stay Blessed Baby, Sphatrades.
by Doji-2k1