Gj
My analysis for GJ for the upcoming week of Oct. 9. In my opinion, GJ is bearish for the moment given the fact that there was a major impulse in price action on the daily chart that broke structure to the downside. In this video I share my ideas where I anticipate price heading in the short to intermediate term.
GBPJPY 7/10/2022Price currently facing resistance at 162.305 & support at 161.251 while ranging in between a structure. now if price closes above the resistance of the structure then price might continue to push up to the next zone at 163.325 or all the way to 164.344.
Similarly if price closes below the structure then it might continue to push down to the next support zone at 159.493.
GBPJPY 6/10/2022Price formed a recent support at 163.396 & resistance at 164.380. now if price closes below the support then we can expect price continue pushing down to the next support zone at 161.935 as a retracement move to a newly forming uptrendline.
However if price closes above the resistance, then we can expect price to continue pushing to the previous high at 165.532.
3 levels, as predicted last Wednasday, 1025pips laterAs said last week Wednesday the market moved up its 3 days or 3 levels from the midweek reversal. I am not 100% sure if GJ has made a full3 levels up, as we did not have aggressive movements which are usually evident in separating the levels. However, GJ has moved up over 1000 pips since my entry last week Wednesday, this morning during London session, a perfect sell setup formed with a double Top, and sold 197pips from my entry at 164.701. This could be the midweek reversal, where we go down a further 3 levels, or we can continue on a strong push-up to make a continuation. For now I am out of all trades, pending London session tomorrow.
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Remember GJ IS BAE!!
GBPJPY 5/10/2022Price just made a breakout of the previous low at 164.271 by forming double tops at 165.543 facing resistance. now price is heading to the next support zone at 163.410. We'll look for further trades to the short side if price even closes below the next support zone to continue moving to the next zone at 161.962.
GBPJPY 5/10/2022Price retesting a major key zone on HTF at 165.072 & also created a higher low & recent support at 164.297 while moving in a strong uptrendline. now if price respects the new higher low & closes above the high at 165.722, then price might continue its bullish run to the next HTF key level at 167.803.
** A breakout of the recent support at 164.297 however would invalidate the buy opportunity.
GBPJPY 4/10/2022Price currently facing rejection after retesting a major key zone on HTF at 165.072 & also facing very recent support at 163.414 while moving in a short tf uptrendline. now if price closes below the recent support then it would be breaking out of the recent uptrendline & price might continue to push down to the next support zone at 161.951 or al the way down to 160.472 as a retracement move on HTF.
However if price does respects the recent support & closes above the high at 165.072, then price might continue its bullish run to the next HTF key level at 167.803.
GJ moved up 990 pips since wednesday reversal entry at 155.250GJ moved up 990 pips since Wednesday reversal entry at 155.250. We are at a resistance now, and possibly at the 3rd leg, so we could see a further push-up today with news, or have a strong retrace on the 4hr tf. If we go up to the next zone as marked, we could see a reversal or continuation tomorrow during New York session. Be cautious with news, don't be hasty