Pivot: 140.00 Preference: long positions above 140.00 with targets at 148.50 & 151.75 in extension. Alternative scenario: below 140.00 look for further downside with 135.75 & 132.60 as targets. Comment: the RSI lacks downward momentum. Supports and resistances: 155.70 *** 151.75 *** 148.50 *** 144.00 Last 140.00 *** 135.75 *** 132.60 ***
I believe that successful trading strategies rely heavily upon identifying consolidation zones. Consolidation zones provide us the right direction of the market. Consolidation happens when a market move sharply upside or downside. Later, a trader can use these consolidation zones to identify patterns, whether it be a continuation or reversal. It requires...
We have a new GBPJPY signal generated. bullish on this pair technically too.
GBP/JPY is in a bearish trend and it's loss can continue till 142 and lower. Invest accordingly with your own analysis and money manage properly. Happy trading!
GBJPY is still long according to our system. we are just facing a pullback. we might either retest the support or make higher high.
Based on my analysis, the price may be bull and go up until 148.352 and the price would probably play around that area and goes back down 140.397 . If the price candle close above the resistant line which is the same on December Hike 2016 . It may continue rally up to 151.916 . Watch out for the Big news tomorrow on GBP -MPC Official Bank Rate Votes & Inflation report .
Daily Target: 1.53626 Possible retracement into buy zone
The pair has broken D1 trendline and next candle is looking in the green zone. It may touch 144 in the coming two weeks. SL can be around 138 to 138.50
The 50% retracement support have been tested before. RSI and Stochastic haven't hit bottom yet. If the macro economics is going with the stream, it would hit 50% fairly soon, and we'll see if it reverses.
Hi guys, the GBPJPY is building a massive wedge on the 4 hour. Trading inside this range is guesswork at best, but an eventual breakout should yield nice results. My guess would be short, but if you look at a daily chart and zoom way out, we recently broke above down trending resistance (well, back in November, 2016). We'll see. Now it's just patience. If you...
GBPJPY Trading In Rectangular region
Just yesterday we were discussing the potential for the British pound to continue to advance against the greenback. And given yesterday’s close, that still seems likely so long as 1.2410 holds up as new support. But the pair’s counterpart, the GBPJPY, hasn’t fared nearly as well over the past 24 hours. Yesterday’s plunge in equities has triggered a flight to...
s3.amazonaws.com GBPJPY Elliott Wave cycles on the weekly. It's not a true impulse because wave 5 far exceeds wave 1. Without Brexit I believe a clean impulse would've occurred.. Regardless, I think we'll test the 50% again (first week of April), before bouncing up for the C leg. If 50 retrace breaks down the ABC correction could still be in play a week or two later.