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...
See Signposts for key price action details.
Price has rejected a major level of resistance from a higher timeframe and is completing a bearish engulfing pattern on the H8 chart. At the bottom of this setup, we have a strong support level, where I anticipate a bounce.
Reasoning for taking GBPJPY Long. 1. Daily and Weekly shows that we are at a double top area. (could be a strong reversal point to the downside) 2. 4hr still looks bullish. break of structure to the upside. 3. 61 fib retracement level held for potential upside continuation. 4. Potential upside target is at the very top of the double top area.
GBPJPY BULLISH BAT PATTERN Market Buy Order Set Up. Buy Entry: (140.450) Min Take-Profit: (141.119) Max Take-Profit: (141.550) Stop-Loss: (140.029) Max Risk-Reward: (2.61) Smash a Like button and leave a Comment, I appreciate every support. Goodluck.
Please see the chart for my reasoning for the GBPJPY Long
GBPJPY is trending to the upside this week prior to the GBP Markit Construction PMI, and we anticipate continued upside into this event. The data shows business conditions in the UK construction sector. Technically the pair is at the 50 moving average and above the 139.94 support level and we anticipate upside into the 141.210 level.
Signposts summarized key chart details. Sell off from the 141.24 level continues to weaken. While 140.69 is a rather minor level, price is holding on this week's open. Pound traded higher despite Brexit news, which is expecting to hold given current price action. Aiming to see 141.24 resistance invalidate over the next couple of weeks. [ Note that ideas...
GBPJPY Buys to 142.500 if next H4 closes above 140.00
see what happens at this zone.. if we see a bullish pattern forming we can expect a push to the upside.
if the price respect 140.70 you can take the buy just wait the confirmation if the price break the 140.70 and the next candle opening under the 140.70 zone the buy not valid
This is GBPJPY 1H timeframe analysis, i'm expecting a buy on it
GBPJPY created the daily low during London open by capturing sell side liquidity. It then closed a HHHC (higher high higher close) on the 4HR during NY session giving an optimal trade entry on the pullback. Price pulled back and re-accumulated on the 1min tf and never looked back. Target is the price imbalance that rests above on the 4HR. Now short term, order...
The bullish break of structure occurred around the 137.90 handle. It's currently retesting the 137.90 handle where it's safe to place a short sell to minimum 136.385 handle. It should complete the D leg structure of Harmonics at that level and from there it should wise to place a buy, however in order for the bulls to get a stronghold it should break 139.813 handle.
hi traders, price is making rising flag after bearish impulse, i expect price to retest the daily uptrend before retracing to the 0.618 fib region await price action and candle confirmation for entry potential sell down to daily trendline.