Discussions

British Pound / Japanese Yen forum

30 minutes ago

Unfortunately, our US100 position hit the stop-loss at 20650 We have now clearly broken the liquidity area, increasing the likelihood of a move toward the 100 SMA on the daily timeframe in the next significant order block.

For our GBPJPY positions, we successfully closed both shorts in profit, bringing our net profit slightly above break-even for the week. Our current gold position is in profit and our target remains 2650,while GBPJPY is approaching a market structure trendline with a large bullish order block, suggesting this area could offer support.

The intermediate timeframes for GBPJPY remain strongly bearish. While we are monitoring for a bullish change of character to confirm a potential long setup, this would primarily aim to establish a lower high. This lower high will be a key point of reference, providing critical context to GBPJPY’s broader market structure, which technically remains slightly positive but fundamentally skewed to the downside.

As geopolitical developments, including Trump’s upcoming inauguration, may introduce additional instability to global risk sentiment, we will continue to monitor the situation closely.

32 minutes ago

Gold is currently consolidating above the previously breached boundaries of its ascending channel and symmetrical triangle. This ongoing struggle introduces uncertainty for both bullish and bearish market participants.

Factors such as economic challenges in China and geopolitical risks surrounding U.S. policies continue to underpin gold's appeal as a safe-haven asset. Additionally, inflation expectations are rising, driven by increasing oil prices and concerns about U.S. trade policies. The latest Non-Farm Payroll (NFP) report highlighted robust job growth, reducing the likelihood of significant interest rate cuts by the Federal Reserve in 2025.

Traders are closely monitoring Wednesday's upcoming Consumer Price Index (CPI) data for its potential influence on the Federal Reserve's monetary policy outlook.

Key Levels to Watch:

Resistance: 2690, 2700

Support: 2665, 2660, 2655

Currently, the price is consolidating near the previous resistance zone. A lack of bullish momentum and a potential false breakout above the channel's resistance could lead to a decline towards the 2665–2660 zone. However, a decisive breakout above the local downward resistance may signal buying opportunities, with an upside target near 2700.

Maintain a cautious approach, considering market volatility and fundamental data releases.

41 minutes ago

We have now closed both our short positions from 195 and from 192..3 which we documented on our ideas last week. We are currently approaching a Larger bullish order block and so expect to see some support here aligning with the larger market structure trend line

Congratulations to those who took the trade ideas and be sure to follow more for free precise ideas and knowledge