Please check the chart for the analysis!
Please check the chart for the analysis.
GBP/JPY has rallied strongly yesterday. However, the bulls are taking a breather now. Looking at the 4 hour chart, you can see that price has reached the channel resistance. If this bearish price action persists, selling GBP/JPY@153.75-154.25 with SL above 154.70 and TP at 150.50 would be a possible sell set-up.
The collapse of GBPJPY has been brewing for a while now. Liquidity is being purged as we come closes to the previous highs, freeing up space for the banks to make a move. Ideally, I would like to see one more push up before we begin to target some of the higher lows that have been created on the way up.
This is my favourite pair. Waiting For Touch Fib 0.5 and entry Sell Soon If you have any idea leave comment below and dont forget give like. Thanks
GBPJPY Forming Head & Shoulder Pattern
Overview - GBP/JPY was in a correction and consolidation phase for the last couple of weeks. However, on Friday, a big bullish candlestick was printed on the daily chart. Can this be the start of a new uptrend? Let's analyze Analysis - From the chart, you can see that price is still above the 100 day moving average, which indicates the uptrend has not been...
This pair is yet to tap into the low of the Asian Range, although it is trading within its most recent order block, I do think it is likely that a sweep of the lows will come before we begin to target some upside levels. According to market sentiment 55% of retail is selling GBPJPY.
GBPJPY is in a strong uptrend so in my point of view we need to see a pullback to this area of value and to see some sort of rejection hope you like il be glad to see your opinion about it I'm still a beginner though if you want to give some advice il be happy.
Please check the chart for the trade breakdown.
Actually this Is buy limit order At 151.50 Trend is still up 50 day moving average Below
GBP/JPY Has been great to trade the past few months sticking with Our MAJORS CURRENCY HEAT MAP which we update daily & share for FREE. We have been able to focus on one side of the MARKET at just being a BUYER of this PAIR. There has been no reason to look for SELLING this pair as JPY has remained at the bottom of the MAJORS along with CHF, for a good while...
We percieve the GBP still maintains it strength from the previous week....According to COT data the GBP is stronger than the JPY, Therefore we are expecting a drop down from the current position to 149.013 levels which will serve as our entry for a long position. NB: Risk management highly advised. thanks