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Gbppy

GBPJPY H4 | Bearish Drop Off Key SupportMomentum: Bullish Price has reacted off the sell entry, which was identified as an overlap support zone. Sell Entry: 207.24 Overlap resistance Stop Loss: 208.90 Swing high resistance Take Profit: 205.22 Pullback support 38.2% Fibonacci retracement High Risk Investment Warning Stratos Markets Limited (tradu.com ), Stratos Europe Ltd (tradu.com ): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Global LLC (tradu.com ): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to Tradu (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd.
Short
by Tradu
1
GBP/JPY 40 Pip Bearish Breakout!GBP/JPY has been moving strongly to the upside for a while now, fundamentally this is because of the mass COVID-19 vaccination programme going ahead in the UK which the markets are pricing in bullish for GBP despite the fact that the UK is currently in full national lockdown and a massive chunk of the economy is currently closed. As of today on the charts, GBP/JPY is stuck in a 60 pip range between 141.550 and 142.130 which is a messy and risky area to trade. On the 4H timeframe you can see that during the Asian session last night following through to the London session this morning that price had bounced off a strong support level (2) within the range after creating a low at 141.600 to continue up towards 142.130. As price reached 142.130, the 4H candle shows a massive wick rejection coming off the current 4H candle indicating that buyers are losing control and sellers are stepping in. I would like to see the market break out of the messy range it is currently in and break below support(2) at 141.550, and retest the area in order for me to trade and target 141.140 area. There is a possibility that price could continue the bullish trend if it breaks above 142.160 but I like the selling idea more. Let's see how this one plays out! I WILL UPDATE ANYTHING THAT HAPPENS ON THIS TRADE, WHETHER I TAKE A SELL AS ANTICIPATED OR THE MARKET BREAKS RESISTANCE AND THEN THERE IS A BUYING OPPORTUNITY. Feel free to like this post if you agree with my idea, comment and discuss any ideas or questions you may have and follow my profile for notifications for when I post/update my idea.
Short
by ShaunGadd02