FX:GBPJPY   British Pound/Japanese Yen
663 8 34
In my chart i show the for me most important levels - i call them action points!
The main direction is clear downwards!
We are here:
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At present you can see a sideways-range in this TF, a Trading Box between ~ 128 - 140.

On the downside, we see a kind of Triple-Bottom which is not finished yet. This Bottom only can be seen as a bottom (good for a possible turnaround) with prices > the Midterm resist level @ 140-143.
Trading below that Midterm-support could initiate an ugly downwave down to the main support at 118-119.

Furthermore we can see the possible H&S which seems to be formed. The neckline is corresponding to the falling shortterm down trendline - this is an action point where a decision should be made: here you can exspect high volume and a clear deciding move.
Breaking through this action point could generate a tp at the upside at TP1: 135 (MAx TP H&S ) and TP2: 138 (Box`s upper edge)

Two positions are thinkable:

long: stoppbuy with trigger = neckline, Sl = 128, TP = Box`s upperedge
short. stoppsell below 128, sl 131 tp 119
snapshot


Best regards
mary


Comment: Attention pls:
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Ho Mary, what is your view alter this weekly closing?
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MaryJane stenozar
Hi - the same one i illustrated 15h before ;-)
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Hi Mary ,, is it good to sell now ??
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MaryJane hisham101010
hi - did your read my analysis ? ;)
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Thank you
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Hi Mary, any update? are you going to buy above 132.30?
Thanks!
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such a tricky pair :)
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Taking this to the upside Mary
GBPJPY - Long above 131.200
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