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GBP/JPY – Week 30 – Incoming correction When we look at the 4h timeframe we have one move to the upside that started on the 20th of July. Now the price is near the resistance area at 153.5 and the higher probability move is a correction in this area after the price touches or breaks the resistance. This move can be a sharp correction that reaches the lower bound of the red channel marked on the chart or the support area. The lower probability move is a continuation to the upside without this correction, the price crawling up by making small consolidations. Trade with care. Best regards, Financial Flagship Disclaimer: The analysis provided is purely informative and it should not be used as financial adice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Short
by financialflagship
38
GBP/JPY – Week 26 – New top?For this pair we give a higher probability for a move to the upside near term. When we look at the 4h timeframe, if the price breaks the resistance area (154.200) and after that the red trendline, we are looking at a move that will most probably create a new top. Every consolidation below or above the resistance area are good entry points for the move to the upside. If the price is rejected with a sharp move from resistance we could see a break of the 152.6 low and then a reversal to the upside. We will keep you updated. Trade with care. Best regards, Financial Flagship Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Long
by financialflagship
22
GBP/JPY – Week 24 – Waiting for the breakoutAs we look at the 4h structure for this pair the price action structure is making a bigger consolidation that prepares the next move to the upside. We think the higher probability move for pound yen is to at least break the top. This doesn’t mean that in this consolidation we can’t have a new low, but we think the support at 153.500 should hold and if the down move happens, in this area (support) we should look for reversals. Trade with care. Best regards, Financial Flagship Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Long
by financialflagship
30
GBP/JPY – Week 23 – Is the support going to hold?This pair reached the top (156.100) on the 27th of May and then started correcting. This correction is a higher degree one than those marked with a red channel on the chart. As we can see on the 4h time-frame, the probability is higher for a small continuation to the downside (with or without retracement) until the price reaches the decision zone/support. There we must study the price action to decide if the price continues to the downside or we have reversal at hand. We do not advise buying now if you are trading the small time-frames. Trade with care. Best regards, Financial Flagship Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Short
by financialflagship
17
GBP/JPY – Week 19 – Short term sellIn our last analysis update for this pair, GBPJPY behaved exactly as we forecasted, it touched the minor support marked on the chart and then went to the upside reaching 154,450 yesterday. Now, for this pair we are seeing a minor correction occurring at this level with the price falling to the minor support or deeper to the blue trendline marked on the chart before going up again. We don’t exclude the possibility of a rise in price without this correction happening here, because the main trend is up, so we advise caution. Trade with care. Best regards, Financial Flagship Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Short
by financialflagship
26
GBP/JPY - Week 18 - Up move nextWe think this pair will make an up move at this point and we believe the potential target price of 153.400 as the place where it will go. Before that move, the price may retrace to the blue trend-line marked on the chart or at the minor support of 150.900. Trade with care. Best regards, Financial Flagship Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Long
by financialflagship
31
GBP/JPY - Week 17 - Watching the decision zoneFor this pair we have to study the price structure at the resistance area of 152.000. There are 2 working scenarios here for us: the first one, the price breaks the resistance area and consolidates above which means that it will continue the uptrend and the second one is a sharp reversal which would mean that the price can break the low at 149.025 or reach at least the support area at 148.500. Trade with care. Best regards, Financial Flagship Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
by financialflagship
29
GBPJPY – Week 9 – Up 50%, Down 50%As we forecasted in our last analysis, GBPJPY made a down move on February 25th and it is now slowly crawling its way up to make a new top. Right now its consolidating in one of the support areas so, we expect at least one more push to the top. However, because of the sharp reversal at the 150.430 price, we can expect a down move that would at least reach the blue trendline marked on the chart once it hits a new high or right now before breaking it. We advise caution, this is not a very clear setup for any big direction move. Trade with care. Best regards, Financial Flagship Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
by financialflagship
11
GBPJPY – Week 8 – Ready for correction?GBPJPY continued the uptrend that started in March 2020. It passed through the weekly resistance area at 147,93 that marked the top of the structure in December 2019. The price structure tells us that it will go higher but we advise caution because it’s an overextended move that needs to correct at some point before heading up again. Important structures to watch are the grey trendline and the blue one marked on the chart, with the blue being a more suitable candidate for a retracement. When the price gets in that important area we have to decide if we are going more down or heading to new highs. Trade with care. Best regards, Financial Flagship Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Short
by financialflagship
10
GBPJPY – Incoming down moveThe cross has been moving in a weekly uptrend from March 2020. It has a big correction lasting from April to May 2020 and 2 sharp ones in June and September of 2020. As we can see from the chart, we are expecting a retracement to the blue trendline before going up and breaking the top again, touching the weekly resistance area. The bigger picture for this pair is down, so we are advising caution with the buy setups. Trade with care. Best regards, Financial Flagship Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Short
by financialflagship
11