Looking to short GJ from 164.500
Confluences:
- Bearish market structure ( trend changing as LL was created)
- Retest of 164.500 required for further downside.
- This area coincides with unr-retested key levels
FX:GBPJPY
The monthly chart shows that British Pound very probably will increase in value against the Japanese Yen. As we can see in May the price consolidated and closed above the resistance. In June we can expect the candle to form a bottom wick and continue to go up to fill the wick of April, once it exceeds April's high, it has a free traffic until...
Watch how price responds to the diagonal levels and the horizontal level. I am looking for a breakout candle to close above the horizontal level first. Next, I am looking for a candlestick to close above the diagonal trend line line. If price closes above the diagonal trend line, then I will consider a long entry.
This most recent week, we saw GBP/JPY following the same bearish direction as the previous three weeks, with its strongest impulse happening during Wednesday's New York session. When looking at the weekly time frame, this pair has been in an uptrend. However, it is fast approaching a breakout of this upwards trendline, which has held prices up for the past couple...
After waiting for price to enter my 1H Point of interest it has finally made contact and showing willingness to make a bullish move... I'm expecting price to make a retest before rallying to the upside to break the higher time frame high... Cheers Mates 🥂🇿🇼
Don't be fooled by that big fall it's just an intimidation to make everyone a seller... I have made my analysis and here's how it's looking... London has just closed so it might range for now it will hopefully make moves in Asian Session or maybe on Friday London... cheers 🥂🇿🇼
GBPJPY is looking up north. Potential to reach its previous high of 157.04335 or in and around that area.
It is above the 50 moving average as of 16th march 2022 and bounced off the moving average on the 15th of March 2022.
4 hour chart.
Looking to short GJ from 155.500
Confluences:
- Bearish market structure as LLs and LHs are being printed.
- Broke below 155.500 support region without retest.
- Retest level (155.500) which is currently the support-turned-resistance level falls inline with the 61.8% fib reversal levels.
A potential push to higher fib extensions may occur, will look for signs of...
The British pound has melted down against the Japanese yen during the trading session on Thursday as Russia has attacked Ukraine. This obviously has caused quite a bit of fear in the market, and therefore it makes sense that we would see plenty of selling pressure when it comes to risk appetite. Ultimately, this is a market that I think will continue to be very...
I'm eyeing GJ to make a higher swing to 156.0 followed by a drop all the way to 151.500 , should we manage to have multiple candles closed below 156.0 we could expect the bears to make way for downside movements.
Daily Market structure is Bearish
4hr Market structure is Bearish,
Weekly momentum has spilled over from
last week. Fear continues to plague the Stock Indexes
No reason to be a hero and call a bottom in the market
Probably smart to relax and continue trading with the trend
GBP/JPY looks like its in for a ride on the trend line break. Followed by this we have retraced 61.8% into 156.700. With this in mind and a combination of market structure forming lower highs and lower lows I do expect multiple rejections on 156.7 forming a lower high bringing in an opportunity for shorts into 154.5. in order for this to be valid, as mentioned we...
This is my own analysis
it's not a financial advice
Looking at the yen index is pretty much still weak
british pound is still at an acceptable strength
i believe we are still in the bullish structure looking for more to the upside
Description as shown in the charts.
Do show your support by liking and following if my ideas were helpful : )
Feel free to leave your thoughts and comments below ~
What we can see is the market has moved to the upside for this week and we will be looking at continuing our bullish trend. We have 2 buy zones, the higher being higher risk and based off the structure zone acting as a broken resistance. The lower zone has a true demand zone within it and a void that would be filled before the continuation to the upside. Watch...
GJ Recently Broke structure on the 4hr tf, and quite recently followed by this B.O.S we could be forming a higher Low signalling a bullish move to the upside of my target at 152.500
