Hi Assalam-o-Alaikum , Dear GooD Afternoon Hope you are well and enjoing your trading , i'm here with my new analysis of GBPJPY
GBPJPY analysis 05 Nov 2020
I hope my analysis will help you in your trading best of luck
share your point of view about GBPJPY in Comment Section , Thanks
FX:GBPJPY
OANDA:GBPJPY
FOREXCOM:GBPJPY
We are currently trading the 4th leg of possible bat pattern that is forming on the 4 hr chart. We are predicting the harmonic pattern will be completed and a recent break of the yellow trend line has given the pattern and our strategy confirmation. FX:GBPJPY
FX:GBPJPY reached a critical point today, big resistance at this point as it is an intersection between a downtrend and 50% fibonacci resistance ... we will go down for sure, with an entry on 142.450, a stop loss on at 143.988 (23.60% fibonacci) and a first target at 141.002, a second target at 139.512 and 3rd target at 138.591
Overview
FX:GBPJPY has formed bearish divergence and double top pattern after having a strong bullish rally!
Analysis & Plan
Double top is a bearish reversal pattern which indicates a change of trend from bullish to bearish. Bearish divergence is also an indicator of a weak bullish trend, hence our bias for FX:GBPJPY is currently bearish. We are looking...
FX:GBPJPY GBPJPY - Long Trend Bullish
in short term correction will occur... but correction below 153.5 considered as trend reversal and given chart invalid!!!
***Analyze before taking a position
FX:GBPJPY
As we see, price began a new bullish leg from the last mitigation spot. Price was not fully bullish until we got the impulsive swing which broke the market structure higher, taking out previous LHs.
Now we see price approaching the inception of the bullish move initiated by smart money which BMS higher. We expect for price to make new highs after...
FX:GBPJPY consolidating for a while in a descending manner, but unable to break below 149.5 and stay under it. It looks to me that retesting 153 is a very possible scenario. I have a position from 149.95 and will be adding some more after breaking the hourly down moving trendline. First TP at 152-ish then 153-ish.
We have some fundamentals also, the world is...
FX:GBPJPY GBPJPY has been on quite a roller coaster ride since September of this year (2020). We tapped into 133.000 key level but not for long! Price has been ranging in between the weekly and daily levels of 135.750 & 137.605..
Based on the Daily timeframe price is still forming higher lows and respecting the bullish trend line. There are lower highs forming...
