This pair is the main event of the day.
If you time your sell entry well on this pair, you could hold a swing on it and capture massive profits.
We will be taking this trade today.
If we see rejections and LTF structure shifts, I am in with the team!
Since the beginning of March, GbpJpy is carving a rounded top.
Now the pair is trading exactly in pattern's support and a break here looks inevitable.
If such a break happens we can consider the formation complete and open sell position.
The target for the pattern is more than 500 pips down so 144 technical support can be in play
As we can see from this chart GBPJPY has broken its weekly resistance level
I am looking for this pair to retest the broken area before pushing up to the next highlighted resistance area or if the daily highs are broken then we can look to join in on the move going up
Price is looks to be testing previous highs. Looking for short position. Possible set up if price holds below 154.00.
Looking for rejection around 154.50-75.
Gbp strength is strong on all time frames but Jpy is gaining strength.
Lets see what happens
Please read my previous post to understand the long term directional bias.
I will be selling into swing buys.
I assume the sell setup will look something along these lines once we purge the trend line liquidity and fill some of the imbalance.
I have created an illustration to make it clearer for you.
Price is bound to purge the equal low liquidity before return to the trend line liquidity.
I have illustrated how price may react around these sensitive regions before setting off to the weekly highs.
Personally, I will be selling on the lower timeframes until the swing buy opportunity presents itself.
Leave a comment and/or message us on how we can improve...
Here we have the chart of GBPJAY I am going to short from here because on the monthly time frame it touched the strong resistance And if we see one the other side we easily can see that GBPJAY running on the parallel channel and given breakout
I hope from this trade you will get some green pips 💲💲🤪
What we see on GBPJPY is quite clear and nice, price showing bearish pattern just on the top, with strong momentum to down.
Sor far we waiting for price to show more bearish signals and ofc we wait for the price to be back to our strong resistance level which is drawn by orange area.
Finally set our 1:5 order and go with new trend ...
⚠️Take Max 1% of your...
We consider selling this GBPJPY pair because of a strong resistance above. We know what we are doing and we do what the market is doing. This is more than an institutional analysis. Invest wisely. Thank you for following me on tradingview.
This is a brief update on my previous GBPJPY analysis.
Last week was extremely bullish for XXXJPY and many think the trend has to come to an end.
What many fail to observe are the nearby equal highs that need to be taken out.
I have illustrated what you can expect over the coming weeks.
Does this analysis match yours?
Could we begin to see a slight retracement to this bullish week?
Price have trended to the upside non stop with no signs of sellers until today.
Sellers began to enter after we swept the liquidity from the equal highs to the left.
I think it's time for a retracement before we continue strongly bullish for NFP on Friday.
What are your thoughts? Let me know in...
gbp jpy is going all the way down from very strong supply zone
look for bearish confirmation on lower time frames and enter short with your own money management
never risk more than 2% of your equity on single trade
patience is the key to success in financial world
We consider buying this GBPJPY pair because of a strong support below. We know what we are doing and we do what the market is doing. This is more than an institutional analysis. Invest wisely. Thank you for following me on tradingview.