Guppy broke the uptrend line and all short term momentum indicators are suggesting further downside. So i am looking to short it on a pullback around 149.60-70 area for a target of 148.76, stop above 150.14
Follow up to my last call-as JPY is getting stronger across the board so I am expecting Guppy to break the prior short term support and retest the prior lows around 147.05.
Our preference: short position below 150.30 with targets at 149.40 & 149.00 in extension.
Alternative scenario: in excess of 150.30, aim for a continuation of the rise with 150.65 & 151.00 in the line of fire.
Comment: the RSI has just hit a bullish right.
Hi traders!
GBPJPY is standing in a funny place. After a huge bull run was over, it was met by a healthy retracement. I'm getting plenty of different signal from this chart. I have 2 set of FIB extensions set in this chart because the up move was too strong and have super big gaps between the extensions.
I have one for the weekly & one for the daily. Also, I...
GBP/JPY does not seem to have the ability to push higher up and it's very possible that it may continue it's bearish trend further low as soon as the current support breaks.
As always, invest after your own analysis and money manage properly!
Let me know what you think/your opinion in the comments.
Happy trading!
I shorted the Gbpjpy Friday night ,i no have time to post at that time ,then i just thinking about today to why to not post it..because have room for again enter in.
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In technical analysis i see a possible H&S and even the weekly support is right Far ,usually when a price Breakout this kind of strong resistance the AT suggest that he will pullback on for bounce...
BUY this pair at the rejection of the channel support. LIKE and FOLLOW me to get instant notification each time i post a trading idea. You can also connect to me on Whatsapp. Check my profile. THANKS
GBP/JPY 1H Chart: Symmetrical Triangle
The British Pound is concentrating against the Japanese Yen in a one week long symmetrical triangle. In many cases, formation of such figures represents anticipation of certain fundamental events. In this particular situation, such event might represent either the British PM May’s or Governor Carney’s speeches at the Bank...
GBPJPY price action contained in a multi-month bullish channel and broke out 2017 highs,I am short GBPJPY at 150.92- i am looking for a bigger swing to play with a target in view 147.63 (38.2% fibonacci retracement/my 1mo moving number) & a prior support turned resistance area. My stop is currently break even now.
We have two view on gbpjpy
First Gbpjpy make head and shoulder pattern , if hold right shoulder then sell from below and tp is 148
2nd view is if break right shoulder and upper trendline ,
then this pair going long first tp is 152.70 and tp 2 153.50 and tp 3 is 155
Good luck and trade with care
Asad ullah
If this pattern completes, the daily zone (green area) where the breakout occurred recently will finally be re-tested. Look for a candle to close below the pink zone on the 1H chart or the blue zone on the 4H chart in order to short the pair down to this area. The rule of thumb for trading a H&S pattern is the distance - in pips of course :) - between the head and...
This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits.
Please comment below and Like if you agree with my analysis.
Pending Short @ 141.20
Stop Loss @ 141.80
Target @ 139.50
RR Ratio @ 2.83
Trading involves substantial risk of loss. I'm just providing insight into what trades I'm taking.
We've got a triple top on another idea, which we're waiting now for the break of a neckline for confirmation and the continuing drop will be in line with this Gartley pattern to complete Leg D. However, between the Targets 1 + Targets 2 of our Gartley pattern there is our 0.786 fib level, which we will be watching as the retracement for our Triple Top short trade...
