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GBPJPY Technical Analysis 03.01.2024 1h chart– Previous Daily candle closed small Bearish around 179.160 leaving a huge Rejection to the upside around 180.640. – Buys on close above 179.370 targeting 1h Strong Resistance formed around 179.760, Leaving Runners to the 4h Resistance formed around 180.100. – Sells on close below 178.730 targeting Daily Support formed around 178.380, Leaving Runners to the Monthly Rejection formed in October last year (2023) around 178.020. – Overall price has been moving decently on the Hourly timeframe but Daily candles still ranging within Weekly Rejection area formed in October and December last year.
by SalimFX20
GBPJPY Technical Analysis 02.01.2024 1h chart– Previous Monthly candle closed strong Bearish at 179.460 forming strong Monthly Resistance around 187 level, Last Weekly candle of December 2023 closed small Bearish with a Rejection wick to the upside, Friday Daily candle also closed weak Bearish as market experienced minimal movements in price action. – Buys on close above 179.870 targeting 4h Strong Resistance formed around 180.440, Leaving Runners to the Weekly previous Strong Support formed on 30th October 2023 around 181.170. – Sells on close below 179.030 targeting Daily Support formed on 28th July 2023 around 178.380, Leaving Runners to the Monthly Rejection formed in October 2023 around 178.020. – Ideally is to allow new range to form new price action and wait for strong confirmations before taking positions.
by SalimFX20
GJThese are sell stops which I had placed on the 26th of December 2023, I got caught up and forgot about them. The market is currently not moving so I am at risk of losing these. Having not paid attention I could potentially hit the risk I had planned to lose. I had seen how the market pushed in between two price points (Blue rectangles). Found the probability and the possibility. Set my Trades up. And now we are following through but if we continue the way we are going, we can actually scale in with where the market currently is. This is only advisable once we move SL into profit, above the previous high (about 179.86) I'll keep an eye on it when the market opens and act accordingly.
Short
by Mhangwane1
GBPJPY Technical Analysis 29.12.2023 1h chart– Previous Daily candle closed Bearish around 179.900 below recent Daily Support formed as price break out of the recent Daily Range, forming Daily Resistance around 181.360. – Buys on close above 180.340 targeting 4h previous Support formed on 26th December 2023 around 180.710, Leaving Runners to the 1h Resistance formed around 181.270. – Sells on close below 179.630 targeting 30min Support formed around 179.230, Leaving Runners to the 4h Support formed around 178.670. – As we approaching end of the year volume starts to slow down and market becomes volatile so it is extremely important to manage risk and wait for a much stronger confirmation before opening position (s).
by SalimFX20
GBPJPY Technical Analysis 28.12.2023 1h chart– Previous Daily candle closed weak Bullish around 181.350 leaving a huge Rejection wick to the upside. – Buys on close above 182.150 targeting 1h Resistance which could potentially become a previous Daily Wick Fill around 182.150, Leaving Runners to the 1h Resistance formed around 182.680. – Sells on close below 181.030 targeting 1h Strong Support formed around 180.670, Leaving Runners to the Daily Support formed on Friday 22nd December 2023 around 180.240. – As we approaching end of the year volume starts to slow down and market becomes volatile so it is extremely important to manage risk and wait for a much stronger confirmation before opening position (s).
by SalimFX20
GBPJPY Technical Analysis 27.12.2023 1h chart– Previous Daily candle closed small Bullish around 181.060 respecting Daily Support formed on Friday 22nd December 2023. – Buys on close above 181.310 targeting 1h previous Resistance formed on 20th December 2023 around 181.810, Leaving Runners to the 4h Resistance formed around 182.330. – Sells on close below 180.670 targeting Daily Support formed on 22nd December 2023 around 180.250, Leaving Runners to the next Daily Support formed on 4th December 2023 around 179.920. – As we approaching end of the year volume starts to slow down and market becomes volatile so it is extremely important to manage risk and wait for a much stronger confirmation before opening position (s).
by SalimFX20
GJBack-testing this was one of my greatest lessons and pleasures of enjoying exchange and the markets of. 2009, 2014, 2015 & 2023 - These years are crucial because 190.00 beat them down telling them to sit TF down and show respect. Bigger view, zoomed out, 1M - shows 2 double bottoms - this indicates that we were bound to fight upwards - 2020 (1W) we shot up, slowed down May 2021, went up Jan 2022, had frequency (I call being stuck in one place this, because it reminds me of a frequency chart), Jan 2023 (we've been in frequency again) Move to 1D and you see there's more information
by Mhangwane1
GBPJPY Technical Analysis 22.12.2023 1h chart– Previous Daily candle closed Bearish around 180.240 closing within recent Daily Support. – Buys on close above 180.810 targeting previous Weekly Support formed on 30th October 2023 around 181.310, Leaving Runners to the previous 1h Resistance formed on 20th December 2023 around 181.830. – Sells on close below 179.880 targeting 1h previous Resistance formed on 14th December 2023 around 179.360, Leaving Runners to the 4h Support formed around 178.700. – High Impact News ahead of the Pre London session open for the Pound Sterling for Retail Sales m/m. High Volatility expected.
by SalimFX20
GBPJPY Technical Analysis 21.12.2023 1h chart– Previous Daily candle closed Bearish around 181.340 forming Daily Resistance around 183.070. – Buys on close above 181.540 targeting 1h previous Support formed around 181.960, Leaving Runners to the 4h Resistance formed around 182.330. – Sells on close below 181.090 targeting Weekly previous Support formed on 7th August 2023 around 180.660, Leaving Runners to the 4h Support formed around 180.340. – As Daily Resistance has been formed and price corrected the whole Bullish move we’ve had on Tuesday retracing to the recent Daily Range Zone, there is a probability for the next 2 Daily candles (Thursday & Friday) to range.
by SalimFX20
GBPJPY Technical Analysis 20.12.2023 1h chart– Previous Daily candle closed strong Bullish around 183.080 retesting Daily Resistance formed on Tuesday last week (12.12.2023). – Buys on close above 183.420 targeting 1h Resistance formed at 184.010, Leaving Runners to the 4h previous Support formed on 8th November 2023 around 184.590. – Sells on close below 182.610 targeting 1h previous Resistance formed on 19th December 2023 around 181.900, Leaving Runners to the next 1h previous Resistance formed around 181.290. – High Impact News ahead of the Pre London session for the Pound Sterling. CPI y/y forecasted at 4.3% previously was 4.6%.
by SalimFX20
GBPJPY Technical Analysis 18.12.2023 1h chart– Previous Weekly candle closed Bearish around 180.070 closing below Strong Weekly Support, Friday Daily candle closed Bearish forming Daily Resistance around 181.090. – Buys on close above 180.480 targeting 1h Resistance formed around 180.910, Leaving Runners to the previous Daily Support formed on 8th December 2023 around 181.410. – Sells on close below 179.830 targeting 1h previous Resistance formed at 179.370, Leaving Runners to the 1h Support formed around 179.010. – Ideally is to allow the Asian to consolidate forming a new range for the Weekly candle and anticipate to see decent volume around Pre London / London open.
by SalimFX20
GBPJPY Technical Analysis 15.12.2023 1h chart– Previous Daily candle closed Bullish around 181.100 forming Daily Support around 180.200 leaving a Rejection to the downside. – Buys on close above 181.230 targeting 1h Resistance around 181.850, Leaving Runners to the 4h previous Support formed around 182.580. – Sells on close below 180.510 targeting 30min Support formed around 180.060, Leaving Runners to the 30min previous Resistance formed around 179.510. – High Impact News ahead of the London session for the Pound Sterling, Flash Manufacturing PMI and Flash Services PMI.
by SalimFX20
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GBPJPY Technical Analysis 14.12.2023 1h chart– Previous Daily candle closed strong Bearish around 180.210 breaking below recent Daily Support formed last Friday 8th December 2023. – Buys on close above 180.750 targeting previous Weekly Support formed on 30th October 2023 around 181.280, Leaving Runners to the 1h Resistance formed around 181.830. – Sells on close below 179.920 targeting 15min previous Resistance formed on 28th July 2023 around 179.250, Leaving Runners to the previous Weekly Low targeting a potential Wick Fill around 178.520. – High Impact News ahead for the Pound Sterling as Bank Of England review interest rate. Monetary Policy Summary, MPC Official Bank Rate Votes and the Official Bank Rate decision forecasted to maintain at 5.25%. high volatility expected.
by SalimFX20
GBPJPY Technical Analysis 13.12.2023 1h chart– Previous Daily candle closed Bearish around 182.650 forming Daily Resistance around 183.440 as price respect the previous Daily Support formed on 2nd November 2023. – Buys on close above 183.000 targeting 1h Resistance formed around 183.250, Leaving Runners to the Daily Resistance formed around 183.500. – Sells on close below 182.430 targeting 1h previous Resistance formed on 8th December 2023 around 181.960, Leaving Runners to the Daily Support formed on Friday 8th December 2023 around 181.430. – There is a higher probability for price to retest the recent strong Weekly Support knowing that Daily Resistance has been formed which means the current Weekly high formed aswell, Sells are more likely to play out.
by SalimFX20
GBPJPY Technical Analysis 12.12.2023 1h chart– Previous Daily candle closed strong Bullish around 183.450 as price retests the previous Strong Daily Support area around 184.600 – Buys on close above 183.730 targeting 4h Resistance around 184.070, Leaving Runners to the 30min Resistance formed around 184.440. – Sells on close below 183.240 targeting previous 30min Resistance formed around 182.760, Leaving Runners to the 1h Support formed around 182.370. – High Impact News ahead of the Pre London session for the Pound Sterling, Claimant Count Change and Average Earnings Index 3m/y, High Volatility expected during the London session open.
by SalimFX20
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GBPJPY Technical Analysis 11.12.2023 1h chart– Previous Weekly candle closed Strong Bearish around 181.870 closing just above recent Weekly Support formed at 181.270, Friday Daily candle closed small Bullish forming weak Daily Support around 181.410. – Buys on close above 182.390 targeting previous 4h Support formed on 2nd November 2023 around 182.940, Leaving Runners to the previous Daily Support formed on 2nd November 2023 around 183.410. – Sells on close below 181.520 targeting 4h Support formed around 180.890, Leaving Runners to the next 4h Strong Support formed around 180.440. – Ideally is to allow the Asian session to consolidate forming a new range for the new Weekly candle ahead.
by SalimFX20
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