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Gjswing

GBPJPY H4 ANALYSISPrice is still bullish and rallied today 100+ pips. Support was found at 160.50 level. Possible rejection around 162.50 if price wants to push higher towards the previous supply zone. I'm personally looking for sells. Looking for a strong bearish candle to break 50 ma. There's money on both sides but if price doesn't break the 162.50 level I feel sellers will come in push price lower and low to grab up money around the 159.50 level and lower. This month and I'm challenging myself to just focus on 2 pairs and GJ is one of them. lol Trying to focus and cancel out noise/distraction. I will never give this up. I strive to be a professional trader and have that financial freedom we all look for. Trade safe and RISK MANAGEMENT. Peace.
by MrVizions_421
GBPJPY LONGBy looking at the price action, its easy to see that the pair has been moving in a bearish direction for serval days. Current price action suggests that we might be in for a short term bullish correction. We have spotted the formation of an inverse head and shoulder pattern on the Daily chart and when we move to the H4 time frame, this pattern is more clearer. Another reason for our bullish short term basis is because we have spotted a change in market structure from bearish to bullish as per our key level. We will be looking for an entry on the retest of this key level. The target for this trade is around high of the previous month. The risk reward for this trade currently stands at 7.87 to 1. We plan to hold until target or close manually as per our trading plan rules.
Long
by NDOBObanks
2
GBPJPY H4 AnalysisPrice has been bullish for the past 6 days and looking to test a daily supply zone from June 16th and previous days in June, possibly testing higher. I'm a seller by nature so I'm looking for price to show STRONG bearish candle to trigger sellers in the market long term. Rsi is overbought and attempting to retest highs. A minor rejection at 155.25. Don't think that will hold for long. Will focus on Higher on time frame analysis. Less noise. I have to be patient and execute my strengths. Wish I could have caught that buy! GJ aka the dragon Moves!!!! lol Risk Management. Happy Trading.
Short
by MrVizions_421
Buying GBPJPY on Dips: BIG 500 PIP Target at 149-150.We are seeing a consolidating price action on GBPJPY during the last 4-5 weeks. And, this is quite expected. GBPJPY has rallied close to 1700 pips from the lows this year and in my opinion, the recent consolidation will soon lead to another rally. From the chart, I would like to point out 3 things: (To receive signals, ideas and updates, don't forget to check my signature at the bottom of this idea) 1) Price is above the 100D EMA, which clearly indicates that the BIGGER TREND is BULLISH. 2) We have a very strong support zone at 143.80-144.20. 3) Price recently broke out of the TRIANGULAR FORMATION. Now, it's retesting the triangle. Even if GJ goes back into the triangle there's plenty of support. So, in view of the above, I believe "BUY ON DIPS" is the right strategy. Scenario 1: Traders can go long when price touches the 100D EMA at 144.80. TPs can be set at 145.70 and 146.50 respectively. To keep risk low, use small SL at 144.45 Scenario 2: If 144.80 doesn't hold, traders can go long at the support zone at 143.80-144.20. TPs can be set at 144.20, 145.50 and 147 respectively. SL should be placed below 143.50 If you like this idea, please encourage me with your thumbs up. I appreciate your valuable comments and feedback as well.
Long
by TraderAvDM