Hi there,
Gbpjpy is setting up for a heavy drop and change of trend, watch lower timeframes, wait for sharp sell and join it on the corrections
Expecting a double bottom on Monthly timeframe, then we change trend for uptrend in daily, weekly and Monthly timeframes.
Good luck
- GBPJPY is sitting at a strong resistance area which has been respected for over a decade now.
- GBPJPY is overbought.
- Bearish divergence on multiple time frames.
This is a trade idea and not financial advice, use at your own risk! Always wait for confirmation and do not forget your stoploss.
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I am not falling for GBP/JPY-s games. Yesterday we had a massive bull candle but it ended with a rejection. I will be shorting GBP/JPY to 147.400. Good luck!
GBPJPY on the weekly has hit a resistance, similar to GBPUSD. Mostly due to the United Kingdom's vaccination pace, re-opening schedule guaranteed which means business can now prepare to reopen. However we are seeing U.S. yields rise on anticipation of a potential inflationary period in the U.S., this adds some strength to the dollar and money flowing from other...
If you’re following my analysis, maybe maybe you guys are already bored with this, .. and I don't know how many times I've said it,.. but I want to say it once more,.. just be careful,.. the direction is starting to shift now,.. We are already seeing some nice shifting of direction these past 2 days and I’m expecting this to continue for a very long term.
The...
HOW MANY LINES DO YOU DRAW ON YOUR CHART TO UNDERSTAND WHERE THE MARKET IS GOING NEXT?
I am not a big fan of messy charts, full of lines, channels, Fibonacci, blablabla... The list can be really extensive.
For FX:GBPJPY pair, it has been rising for the last 4 months, non-stop.
We can see RSI indicating it is overbought and OBV showing divergencies vs price...
GBP/JPY has been in an uptrend following the Red ascending channel .
The price reached the upper trend line which intersects with the Key Resistance Level, and failed to break above it .
Due to this rejection / failure, I expect the price to fall until it reaches the next support level or until it touches the bottom red trend line .
This is also shown by...
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...
