MY THOUGHTS ON GBPJPY Rsi was around 80 and MACD crossed , could not break the red zone , did not go below the MA but broke the trend line maybe a good short.
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 GBPJPY has broken above the 200 day MA to the upside, and recently over the 50 day MA again as well. I am choosing this time to take advantage of the upswing - SL at 138.50 The RSI is showing some signs of exhaustion but its still in the 60 area - the stochastic looks like it wants to embed in an uptrend and the MACD has made a positive crossover to the...
Brexit + risk off in the world today may break demand zone and then there is no bottom till 126.
If the current bullish momentum continues, this would be a great opportunity for a long position. Price broke upwards through the falling wedge which is also confluent with the resistance zone marked in black. upon spotting a good entry that's in line with my management, i'll be looking for price to follow roughly, the previous bullish run as highlighted with the...
A descending triangle pattern, followed by a strong resistance zone at 1470.734 There is a big chance of pull back towards triangle zone. Hold onto your horses until price crosses this zone. After crossover, a massive BUY opportunity with a 400 pip profit opportunity. Stop loss around 139.000 zone Risk : Reward = 1: 2.25
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.
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...
JPY posted mixed economic figures, while GBP is not posting anything of importance today. A falling wedge has formed and is looking to breakout momentarily. Stochastic crossing close the the 20. mark. RSI and MACD rising. Note the strong support 2017-03-09 (see volume on the day). My best guess it's a bullish breakout, if any. Yet, I'm waiting for the confirmation first.
Watching and waiting for this one to pop. Will it follow the last big break back at the beginning of NOV and continue long or will it pull back from the price stall? Keeping an eye on this one, could be a big move.
It's not the most important released data, but it continues to go to JPY favor and by that, strengthening my beliefs that GBPJPY is on its way down. It is for sure going to rest for a bid on the 200MA, but I have just added to my short position I've had for 2 days and will hold it for a while.
A slight disappointment on the PMI, from the UK, gave the GBP a reason to continue falling. I'm in on a small position, because it's not that JPY came out with super strong numbers either. Hopefully a rapid profit over the next few days. A quick note, 10ema 55ma and 200ma is all pointing downwards. It's not favored long. Even though, it might bounce up when people...