Welcome to our weekly trade setup ( GBPJPY )! - 1 HOUR Closure above main sr level. 4 HOUR Good price action and pressure. DAILY Overall sideways moving structure, expecting another push to the upside. - FOREX SWING BUY GBPJPY ENTRY LEVEL @ 148.570 SL @ 147.560 TP @ 150.090 Max Risk: 0.5% - 1%! (Remember to add a few pips to all levels - different...
Upside movement from price action, coming off support level.
The previous trade I posted on this pair went very well and hit TP. This is now at a large resistance level and has been overbought so I want to see a retrace before taking another position. RSI is showing overbought on daily and weekly timeframes. There is a chance to open a short trade but I will not be taking that trade personally as I do not like trading...
GBPJPY has been great to us of the past few weeks. Staying on one side of the market buy calculating Daily the strongest and weakest of the Major Currencies has helped us maintain our edge using proven Statistics. GBP has been ahead of the pack for several weeks and has been increasing its strength daily over the other Majors. 146.560 has proved a great target...
Our Currency Heat Map tells us to stay Long GBP. Still being the strongest Major currency we see no reason to be short the British pound, we are therefore pairing it with JPY which remains the weakest of the Major currency pairs for today's trading in the Forex Market. Buy using our propriety currency Heat Map filter it allows us to easily pair the stongest vs...
GJ In fact, last week closed above a key trend line near 142.50, and this week’s action is a continuation of that breakout. The monthly chart above shows a triangle/wedge pattern within a larger structure that dates back to 2007. Notice how GBPJPY is starting to break out from the smaller pattern. If the larger structure from 2007 remains intact, and I think it...
GBPJPY ANALYSIS Please consider to put a like to my idea for supporting me & subscribe for more ideas. Idea is not the financial advice!
ANALYSIS -------------- DAILY TF: BIG BULLISH MOMEMNTUM CANDLES 4HR TF: BREAK OF RECENT HIGHER HIGHS 1HR: BREAK OF A RECENT HIGHER HIGHS PLAN OF ACTION ---------------------- - WAIT FOR RETRACEMENT/ CORRECTION PHASE ON THE 1HR & OR 5MIN TF TO COMPLETE BEFORE TAKING BUYS - IF OPPORTUNITY PRESENTS ITSELF, WE CAN TAKE THE ANTI-TREND SELL TRADES - CHECK ASIA & LONDON...
Looking like weakness in JPY and strength in GBP at the moment which combined should push this higher. We are currently at resistance and price is looking bullish so i expect this to push on. MACD and EMA's suggest this is only going up. Targeting the previous high of 147.961. SL just below support.
We will reconsider a reentry if stopped out.
💡 Trade Idea 📈 Buy Limit GBP/JPY @ 142.95 🎯 Target Profit 144.29 🛑 Stop Loss 142.51 ❌ Do not risk more than 1 % of your account on each trade 🙂 Good Luck ! Description: The price is a clear upward movement by posting higher highs and lows. Currently, it is trading within a wedge formation, and as per Elliott Wave Theory, we are in Wave 4. Our expectation...
This is currently making the expected retrace after breaking out. You can see my previous 2 ideas on this pair to see that this was predicted. If you are not yet long on this then there is another chance now. This should retrace further back to the previous resistance level and find support here before rising again to the target of the next high at 144.794. SL...
BUY GBPJPY due to 1: broken and retested supply zone 2: double bottom formation 3: Rsi divergence
GBPJPY, Bullish Momentum and break out significant resistance!
A long run for GBPJPY is desired !!!
Please check the chart for the analysis.
As previously reported this is very close to a breakout. Also MACD and EMA's point to this rising above the resistance. Look to enter a trade once this breaks and then retests this level as a support. TP is currently set at the next resistance.
Since start of 2021 we had highs on GBPJPY hovering @141.2x struggling to break above , but failed at (X-1) we have push lower for sellers to cover up some loses towards the last lows @139.5x and the lows held strong at (Y-1) Bullish momentum kicked in at (Y-1) enabling buyers to take control upwards for another re-attempt to break the last point of resistance at...