& analyzed it again
- it`s always your decission ...
(for a bigger picture zoom the chart)
This is only a trading capability - no recommendation !!!
Next week i`ll confirm or change my opinion about this SetUp :)
Buying/Selling or even only watching is always your own responsibility ...
The price finding support area at 139.50. Bullish as long as support area remains intact. As intraday trading strategy. we must get bullish signal confirmed by trading above 140.50 with potential target at 144.30- 145.70.
Price may continue in downtrend to 160.907, if it breaks 160.621 then it'spossible for the price to down to the S&R level of 160.402. If so then look for price to retrace from 160.402 going in an uptrend and retest around 161.375 and retrace, look for a possible breakout "Long"
The secondary trend of GBP/JPY is bullish on charts and price is trading above the trend line in its 4 hourly chart. In 4 hourly chart the price is sustaining above 50 day SMA and is taking support of 200 day SMA indicating uptrend of the pair. It is having an important resistance at the level of 164.10 and support at the level of 158.40. If it breaks its...
Reasons to short ;
- Completed head and shoulder pattern
- End of the Triangle pattern
- Passed my daily support pivot
When to short ;
- After a bearish 4hr red candle below the purple line.
SL at 160.886 / TP at 155.580
The reason why we feel GBPJPY may RISE.
* On weekly basis it has just started moving UP.
* To RISE and come near 164.86 levels
* Stoch RSI (3,3,14,Close) is Rising.
* RSI (14,CLOSE) is Rising.
* CCI (20,CLOSE) is Rising.
Keeping all the above indicators in view along with the chart pattern we expect it to Rise. Our Buy call shall be from Buy above :163.29,...
There are many reason why we feel it may SINK
* It has not sustained quarterly ..... level.
* BEARISH in WEEKLY Chart.
* ToSINK and come near 157 monthly target 03
* Stoch RSI (3,3,14,Close) clearly states it may sink.
* RSI(14,CLOSE) Is also of the same view.
* CCI(20,CLOSE) Is not clear
Keeping all the above indicators in view along with the chart pattern...
GBPJPY is expected to rise now.
There are many reason why we feel it may rise.
01. It has not sustained quarterly buy level.
02. BULLISH Engulfing pattern in daily Chart.
03. It has gone way below the quarterly Low target. and chances are bright it may touch 190 very soon
04. Stoch RSI (3,3,14,Close) is not clear.
05. RSI(14,CLOSE) Is rising.