Currently, GBP/JPY is trading at 138.08. The pair may start a new down trend if it breaks the support level at 136.45. Previously, the pair was making higher high lower low pattern in the resistance and support wedges. If the pair starts a new down trend after breaking the support level, then its first target price will be at 134.22 and second target price will be...
Currently, GBP/JPY is trading at 135.31. The pair may start a new down trend if it breaks the support level at 135.24. Previously, the pair was trading in an up trend by making higher-high lower-low pattern in the resistance and support wedges. If the pair starts a new down trend after breaking the support level, then its 1st target price will be at 133.42 and 2nd...
Currently, GBP/JPY is trading at 132.68. The pair started a new down trend on 9th June and after giving the exit signal on regression trend, it consolidated between the resistance and support levels. After breaking the support level and neck line at 133.97, the pair continued the down trend, its target price for the down trend will be at 131.18.
Follow a proper...
Currently, GBP/JPY is trading at 137.22. The pair started a new down trend on 8th June after breaking support level at 138.29. The price is forming a lower-low-lower high pattern and moving towards its first target, which is at 135.99 and its second target is at 134.57.
Do follow us for future Forex trend analysis.
Short signal still valid for #GBPJPY.
The trendline was broken and "the brave" could have opened a short from there.
We prefer to miss a good opportunity to make a better trade with lower risk.
The better trade could be from 137.00 Area, which is a good Fibo confirmation level.
Possible Short trade on #GBPJPY.
We have to wait for the Elliot wave to be confirmed in point 5.
As 137.00 touched (that's Fibo 61%) we can go short BUT let the price breaks the trendline first.