FX:GBPJPY is forming a set-up within the ascending channel, which predicts the continuation of the trend, but for this the price needs to overcome the resistance at 188.28. On D1 we can see that fundamentally and technically the national currency of Great Britain looks much stronger than the Japanese currency, although Tokyo has been trying hard to strengthen...
Getting used to this recording tool, its super fun! (Didn't realize it was recording for the first 7 seconds) 🤣 Here's what im looking at on GJ today, let me know your thoughts!
#GBPJPY Price is trading in the demand zone and we got the price rejection and hammer candlestick formed once the price close the above triangle pattern its possible to moving next resistance level 152.220 Why we like it: price trading in demand zone Hammer Candlestick Formation Watch the triangle pattern breakout 1st Resistance: 152.220 Next supply area &...
GBP/JPY forecast by imRedaSouhail.
Pattern forming for either a thrust higher or a breakdown that would support Yen pairs and equities. However if continued thrust higher then it makes sense that equities remain pressured along with Yen pairs. USDJPY, AUDJPY will be ideal for long on Yen weakness. AUDJPY, EURJPY, GBPJPY, CADJPY, NZDJPY would be ideal to short for Yen strength.
The fib level 78.6 is almost merged by 1.272 fib extention , that's probably the turning point with a lower risk.
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Price is at pivot point cluster from past 5 trading days and showing divergence on RSI. Look to sell within blue box.
So far it is only 3 legs down but could be the start of the ending diagonal posted earlier this morning.