AlexxChan
Short

GBPJPY continues to head downtown

FX:GBPJPY   British Pound/Japanese Yen
With GBPJPY             continuing to creating new lows every week, i expect the same with this week as well. On the 4h timeframe, a beautiful dragonfly doji could be seen. Following with it are several bearish candles which gives me a strong sentiment that this pair will head down lower. To be on the safe side, I'm waiting for gbpjpy             to break 156.624 before entering a short to lower lows.
Fatary
9 months ago
Yes, break low on 156.62 but fullback rebond again to 158.xx
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AlexxChan Fatary
9 months ago
Whenever it breaks, i always wait for a retest to see if it is a clear break. This pair failed the retest part
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Fatary AlexxChan
9 months ago
So.. Next, how your analysis if is now gbpjpy on 159.xx ?
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AlexxChan Fatary
9 months ago
I'm waiting for this move to happen to enter a short. I'm still very bearish on all GBP pairs at the moment.
My plays are very conservative, so personally I'm waiting for it to hit 160.514 (if it does ever happen) to enter a short to 159.102 (38.2%). However there is an opportunity to short now to head 157.843 if you're more aggressive

snapshot
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AlexxChan AlexxChan
9 months ago
snapshot
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Fatary AlexxChan
9 months ago
yeah, but this pair want try break to 165-166, and is very aggressive.
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Fatary Fatary
9 months ago
if you can see to the price action, visible when the price goes down very slowly and quickly closed the upper hand back.
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AlexxChan Fatary
9 months ago
154.8 is the lowest the pair has been in years. I believe some bullish move will come in first before bears take out again. But right now, GBPJPY should only be following a retracement
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Fatary AlexxChan
9 months ago
yes, I agree with you.. thank you for share.
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