Technician

GBPJPY: Approaching Kill Zone! #forex

FX:GBPJPY   British Pound/Japanese Yen
1934 14 44
Major Confluence Zone
  • Previously broken rising trend line
  • Falling trend line that started from 189.70 high
  • 61.8 retracement for the latest main bearish wave
  • 1.27 extension for the latest minor bearish decline
  • 1.618 extension for the latest minor bearish decline
  • Swing high (horizontal resistance at 181.00

Note that this is a "POTENTIAL" Resistance zone, it's totally normal that the price surpasses that area without any bearishness. This is not a call for short, however, i will SURELY be looking to short if i get a short term signal there.

Good luck...
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Technician
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mcpeacocks
2 years ago
i like this, also saw that the 100Ma on daily perfectly alligns with the 0.618 retracement of last major move - should give some resistance.... also, RSI and stochs are starting to be oversold. definitely looking at this. cheers and thanks for the post!
+1 Reply
Technician TOP mcpeacocks
2 years ago
Thanks for the addition and welcome mate
-1 Reply
Very good setup.
Reply
Casey_Yeo
2 years ago
Great stuff as usual.
-1 Reply
Technician TOP Casey_Yeo
2 years ago
Thanks Casey. I have been waiting for your ideas for awhile, why not publishing?
-1 Reply
Technician TOP Technician
2 years ago
It helps me find more good trades
-1 Reply
Casey_Yeo Technician
2 years ago
you always beat me to publishing ideas. As I have said previously, your style/approach is very similar to mine. I always look forward to seeing your ideas.
On a side note, good trading on NZDUSD. Price just went off from the second pinbar with no chance of me entering.
-1 Reply
Technician TOP Casey_Yeo
2 years ago
I was lucky to pull the trigger and short near 0.7700 resistance. But its still active, so no guarantees yet
-1 Reply
ashif030
2 years ago
excellent setup....
Reply
similar view....

GBPJPY: Medium Term Outlook
Reply
anastasiia.art
2 years ago
GBPJPY has a pin bar on h4. is it a type of confirmation you were waiting for?
Reply
Technician TOP anastasiia.art
2 years ago
I havent shorted yet...
-1 Reply
KamalFX
2 years ago
Nice set up, I uploaded analysis almost identical to this. Thank you for giving me confidence on my potential trade :D
Reply
Technician TOP KamalFX
2 years ago
You Are welcome :)
-1 Reply
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