Daily Target: 1.53626 Possible retracement into buy zone
Brexit + risk off in the world today may break demand zone and then there is no bottom till 126.
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...
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.
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.
Hi traders!I hold a point:Good charts does not more words to explain! Good luck!
HEAD AND SHOULDER FORMATION WAITING FOR TRENDLINE BREAKOUT TO GO SHORT ALSO GBPJPY THIS DAYS IS BEARISH PAIR SO THIS IS A GOOD OPPORTUNITY TO EARN 100 PIPS !
Hi,traders,I hold a point:Good charts does not more words to explain! Good luck
Hi,traders,I hold a point:Good charts does not more words to explain! Good luck
Evening guys British Pound sustains drop as May comments on fears for coming Brexit... (138.831-139.090) which may activate some rebound correction Below (1.2080) on cable will indicate further downside on all sterling pairs will be expected toward (1.2000) zone with the gates then opening for (1.10 and 1.00). GL and please remember to like and comment your...
The 50 EMA (red) on 4h seems to be acting as a nice support which has created multiple different support trend lines coming off of many different areas on the chart. A 4h close above 141.50-60 could indicate the start to a 100-150 pip bullish move. If you look at momentum the highest high it made was November 10th 2016, ever since then it has created lower highs....
Of all GBP pairs that went up simultaneously after 'May spoke about hard-brexit, GBPJPY was one of the few that did NOT touch the 10EMA on the way up. That is curious, because most GBP did. That is a good indicator that GBPJPY short is strong. All three trend lines is on their way to make a major cross. It's worth keeping an eye on this one the for the week. To be...