1. Price might make a retest on the downtrendline & continue pushing down if respects 160.171 zone as resistance.
2. Or price might break & close above 160.171 & make small pullbacks to continue pushing to 162.185.
⛔️ GBP FEATURE currently stands at 1.2173 LEVEL. Also the JPY FEATURE stays at 0.00778 LEVEL. GBPJPY PRICE has dropped on DYNAMIC S / R LEVELS. So most of the time the PRICE can be a bit UP ahead. But the MARKET SENTIMENT must be POSITIVE if you want to BUY GBPJPY. But buying XXXJPY CURRENCY PAIRS at this time is very risky.
⛔️ STOCKS are currently DOWN. ...
. Don't forget about stop-loss.
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P.S. I personally will open entry if the price will show it according to my strategy.
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The pair has been consolidating the last 2 weeks after an impressive late March rally. On the 1D time-frame based on both the RSI and MACD indicators, is appears that GBPJPY is entering a consolidation phase that will get invalidated only if the 2.5 or 3.5 Fibonacci extension levels break.
The long-term trend remains a Channel Up ever since the March 2020 COVID...
Hello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
GBP-JPY was trading in an uptrend
But then the pair broke the rising support lineand the horizontal resistance at 161.350
And as it now retesting the broken trend-line
I am expecting a bearish move down
To retest the support below AT 156.100
Hey, finally we can see bearish momentum and price did exactly what I wanted to see yesterday and now the bulls have taken over. Am expecting price to move down. And you can place your sell positions but use proper risk management and trade what you see not what you think. There is divergence I marked it with a red circle and basing solely on market structure.
You may have to play the -60 at green TP1 beware!
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How to play my chart:
Buy at support, sell at resistance. When you open this chart you'll see a green entry and a...
The pair has been trading within a Channel Up since early 2021. However as earlier in the pattern, it has been inside a corrective channel since the February 10 High. The recent geopolitical developments though in Ukraine have caused a massive rally in the past week and is close to breaking to the upside. If it does, we expect a new Higher High at 159.000. If it...
The price moved exactly 400pips in our direction since my last publication (see link below for reference purposes) to set the tone for bearish momentum. In the last week, and with the appearance of a double top pattern; the Pound appears to have found the crucial resistance at JY158 to incite a second downward spiral. The JY158 area already stopped buyers in...
The British pound cratered against the Japanese yen to reach down towards the ¥154 level at the end of the week. That being said, the market is more than likely going to continue to show signs of negativity, as we have closed towards the bottom of the range, and we have seen a lot of negativity in other markets as well. Keep in mind that the pair is highly...
#GBPJPY Hello trader, I hope are good and safe. Today I opened the chart of #GBPJPY for 15 MIN and analyzed it then I see that this chart has made a DESCENDING TRIANGLE PATTERN, So I hope #GBPJPY will go downside,
Now Nice opportunity for short.
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A hawkish BoJ rate hike amidst a strong UK GDP and Industrial Production figures might propel the Yen to new heights as the Pound looks set to end the following week(s) in the trenches.
Technically, with the sight of reversal set-up (triple top look-a-like) at the JY156 zone, It is becoming obvious that the demand zone has lost the momentum to push the price above...