GBPJPY CONSOLIDATIONGBPJPY currently in a consolidation (sideways channel), best advice is to sit this one out and let it play out. Direction of breakout can’t be predicted and is based more on fundamentals than TA. Japan has 2 news event coming up later today so let’s watch but their last few news event didn’t affect the market much either so don’t go crazy with position based off the news. Good luck!
Gj
SHORT trade for GJShort trade for GJ. Finally broke past support and made a move to the downside. I expect to see a little bit of price action between the minor resistance levels on the way to my profit target. I don't expect to see much overall resistance for the move to continue seeing as there are no major news announcements for either country at the moment. Price could very well head all the way down to the previous support level below my profit target. Here are my numbers for the trade. I am currently in this trade and will update with news on the trade.
Entry - 155.552
Stop Loss - 156.052
Profit Target - 154.560
Risk - 1%
R/R - 2
As always,
Stay safe and stick with your plan.
Still bearish on GBPJPYGBPJPY / 2H
GBPJPY is till following the bearish momentum as predicted the last week after
observing a classical Wycoff distribution. We will continue watching over this pair for
more potential sells around the zones 155.00 and 155.5 after price action confirmation.
Trade safe,
Trader Leo.
GJ Weekly AnalysisGJ is still trading within my channel from previous markup. I also see that Adx is showing bullish movement, so I will only be taking and holding for buys. I do also expect price to drop to 50% level before continuing up.
On a scalping level, if price breaks my descending wedge I want to take quick sells
Triple Top Divergence - H4After a strong bullish move we can expect to see a pullback especially when GBPJPY makes new highs
Technical Analysis is showing a Triple Top Divergence being created on the H4 time frame.
Looking for entries after seeing bearish candles printed on lower time frames for the start of a pullback
GBPJPY WEEKLY OUTLOOK OCT 10TH - 15TH 2021 Have PPI for Yen Economic Data and for GBP we have GDP figures.
looking to continue GJ Bullish run but it is important to be mindful of Dollars heavy economic data / meetings such at FOMC as the world reserve currency it has impact on all economies will look to play the ppls and safe trade ideas with price action / intraday confirms