Get started

Gj

GbpJpy -> Short Squeeze Over?Hello Traders and Investors , my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of GbpJpy 💪 After GbpJpy broke out of a major long term monthly triangle formation all the way back in 2021 there has been a major rally of roughly 4000 pips towards the upside on GbpJpy. However by looking at the weekly timeframe you can see that GbpJpy is a little bit overextended at the moment so I do expect a retracement at least back to the 0.236 or 0.382 fibonacci retracement level. And it seems like with today's candle GbpJpy is breaking daily structure towards the downside so I am first waiting for another bearish push and if we then get a retest of the previous structure zone and some bearish confirmation I then do expect another daily bearish drop to retest the weekly fibonacci levels. Keep in mind: Don't get caught up in short term moves and always look at the long term picture; building wealth is a marathon and not a quick sprint 📈 Thank you for watching and I will see you tomorrow! My previous analysis of this asset:
Short
by basictradingtv
35
GbpJpy -> Perfect Market BehaviourHello Traders, welcome to this free and educational multi-timeframe technical analysis . On the weekly timeframe you can see that GbpJpy is currently retesting a quite obvious previous weekly resistance area at the 172 JPY level which is now turned resistance again. You can also see that as we are speaking, GbpJpy is creating bullish weekly market structure, moving averages are also quite bullish on the weekly timeframe so I am now just waiting for a clear break above the zone, followed by a retest and then I do expect more continuation towards the upside. On the daily timeframe you can see that GbpJpy already rejected the previous resistance area a first time towards the downside, now we are retesting the zone again and there is a higher chance that GbpJpy will break the zone and then I do expect more continuation towards the upside. Thank you for watching and I will see you tomorrow! You can also check out my previous analysis of this asset:
Long
by basictradingtv
53
GbpJpy -> Textbook TradeHello Traders, welcome to this free and educational multi-timeframe technical analysis . On the weekly timeframe you can see that GbpJpy just retested and rejected a quite obvious previous weekly resistance at the 171.000 JPY level. However you can also see that weekly market structure and moving averages are still very bullish, with last week's candle we broke multiple structure levels towards the upside and we are also currently retesting previous resistance which is now turned support so I simply do expect more continuation towards the upside from here. On the daily timeframe you can see the exact same setup, we just recently broke above a major daily resistance level at the 168.5 JPY area which is now turned quite strong support, so I am now just waiting for some more bullish confirmation inside of this zone before I then do expect another daily rally towards the upside. Thank you for watching and I will see you tomorrow! You can also check out my previous analysis of this asset:
Long
by basictradingtv
28
GbpJpy -> Be Careful HereHello Traders, welcome to this free and educational multi-timeframe technical analysis . On the weekly timeframe you can see that GbpJpy is approaching a quite strong and obvious previous weekly resistance area exactly at the 169 JPY area. You can also see however that market structure and moving averages are still quite bullish so I just do expect a deeper push into the resistance zone, followed by a short term rejection towards the downside but then I definitely do expect more continuation towards the upside again. On the daily timeframe you can see that GbpJpy just broke above and retested a previous daily resistance area which was turned support so I am now just waiting for a deeper retested of the 169 JPY area before I then do expect also a short term daily rejection towards the downside. Thank you for watching and I will see you tomorrow! You can also check out my previous analysis of this asset:
Long
by basictradingtv
39
GbpJpy -> This Is The SetupHello Traders, welcome to this free and educational multi-timeframe technical analysis . On the weekly timeframe you can see that GbpJpy just recently perfectly retested and already rejected a quite obvious uptrendline which we had exactly at the 185.5 area. You can also see that we are currently retesting previous resistance at the 165 area, however weekly market structure looks very bullish so I am now just waiting for a break above the zone before I then do expect more continuation towards the upside. On the daily timeframe you can see that GbpJpy is also retesting previous daily resistance at the 165 area - I am also now just waiting for a daily break and retest before I think the next impulse towards the upside will be quite likely. Thank you for watching and I will see you tomorrow!
Long
by basictradingtv
39