chartwatchers
Long

GBPJPY - Possible wedge breakout

FX:GBPJPY   British Pound/Japanese Yen
289 5 16
9 months ago
I trade only EurUsd             , but a friend asked me regarding GBPJPY             ...
I see divergencies between the price and MACD + RSI .

I would closely watch the upper trendline . Today we just tagged it . If we close above the trendline (RED) price should rally to the 100 EMA.

If this time we cannot break the trendline we will come back to 150 and the next try will take out the trendline .
9 months ago
Comment: Trendline is broken.
Plenty of room to the upside.
9 months ago
Comment: JPY is correlating with gold for a long time now.
Sometmes JPY weakness signals the upcoming weakness of gold.
This is exactly happening now.

Investors are coming out of JPY and GOLD now and enetering into stocks.
Another reason not to short the stocks ....
9 months ago
Comment: Broken out earlier.
STill too many shorts....
THey are covering again.
AhmetAlperOzen
9 months ago
Thank you very much for the analysis...
Reply
Qasimshahzadgt
9 months ago
this pair giving good pips...
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chartwatchers PRO Qasimshahzadgt
9 months ago
We've nicked it.
Are you in?
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Qasimshahzadgt
9 months ago
dear maybe gbpjpy will do retracment .. now trand is up gbpjpy will go up too much.....you can tell how many % in fibo will do retrcement. ?
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dimitriosb602
9 months ago
Not in trade, but nice breakdown
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