This is a British Pound index I created. I use these to help gage currency strength when looking for a pair to trade.
"Don’t blindly follow someone, follow the market and try to hear what it is telling you." - Jaymin Shah
This is what i'm anticipating GBP/JPY does for the first week of April. Please feel free to leave any feedback or questions!
- Analysis -
Price is looking bullish on the weekly and daily TFs, breaking new highs etc.
As for a long term perspective I am thinking price is going to reach 155 sometime this week or month.
What I am looking for...
Double confirmation can be used on multiple timeframes and is a very powerful rule to add to your trading. instead of buying at an impulse move created by limit orders you are simply going to wait for price to come back and wait for a bullish candlestick formation, that can be a significant pin bar or bullish engulfing candle. this rule requires some patience but...
Hey guys welcome to the trading week. Like I've been saying for weeks watch out for an upside move on gold, overall still very bullish price action, you can see every time it makes a move down, it quickly pushes back up. We have recently seen a larger pull back which was well needed and now I think that price can make its next leg higher again if not equal last...
Hey traders I am currently looking at USDJPY making a slight pullback before making another possible move to the upside. As you can see on the 4hr time frame we have had a big rejection from that 105.000 area and now looking like the bulls have this in an uptrend. For every trend we need to expect pullbacks before price continuing on to new areas, I have marked...
We have seen huge sell offs on the US dollar over the last couple months, as price is starting to slow down i think that USDCAD has huge room to the upside, if we can see some life come back to the USD. I have here a possible set up pending, ill be looking for buys off the support where i have highlighted. This move would create a nice inverse head and shoulders...
Hey guys as I posted earlier in the week i expected price to make its way back down to 105.000 once again from there looking at possible buys. I think that we may have a final manipulation spike to the downside before a quick move back up to make new highs. This pairs taking a bit of patience but price is slowing down and showing good signs.
Price hit take profit level. Sweet bit of profit for the morning.
Now lets see how price reacts with the key level of 1.51000. currently see a retest. But lets watch this and see exactly what price wants to do.
Hey there. this well go up more and i want it to so i can short it for a good swing trade to my support level 2 if lucky level 1. JPY was the weakest currency today. looking for it to gain strength soon. and the USD is going to be even more weaker by the end of this week. Feed back feel free. leave likes and charts you would like me to analyze. Thanks and good day mates!
Putting a sell on USD/JPY. Trade tariff concerns and Federal Reserve $3T stimulus checks approved over the weekend. Hopefully i can get in my position. Market may open with a gap down. Any input or bullish predictions, I would love your intake. Good day mates !!!
Good morning Traders!
From the technical point of view the pair could develop a corrective structure in short term. That said, the trend remains bullish at the moment, so we have to wait for the first signal (wave A formation) and we can try to take a short position on the technical rebound (wave B) with stop loss above the top. The corrective structure could also...
Despite the US dollar sliding most of last week, USDJPY did not selloff as much as other USD pairs. As a result, price has been able to maintain the ascending channel within the right shoulder of the inverse head and shoulders pattern. Inverse head and shoulders patterns can trigger a reversal in momentum if enough volume gets behind positive price action (PA)....
For the immediate trend :
Entry : .86190
Stop : .85916
Target 1 : .86616
Target 2 : If price closes above bearish trend line, next target will be .86944
Target 3: Hold and move stop up along with trade
Reference Red Supply zone if shorting.