GBP/JPY clears the January range to register a fresh yearly high (190.08), with the recent rally in the exchange rate pushing the Relative Strength Index (RSI) towards overbought territory.
GBP/JPY Outlook
GBP/JPY moves away from the 50-Day SMA (184.68) as it extends the advance from the start of the month, and a move above 70 in the RSI is likely to be...
Price broke above 188.460 area and has potential to push to 194.000 range based on higher timeframe (monthly). Watch for bottom wick rejection to potentially push to that area after price comes back to 188.460 zone.
Entry Taken During London Session.
1. Daily Candle Strong Bullish Indicating Buys.
2. Price Creating HL's and HH's indicating Buys over sells.
3. Fibonacci Pullback to the Upside.
4. Entry Taken at 15 M Break Of Highs.
Here's my look at the GBP/JPY currency pair, with each candle on the chart showing 4 hours of trading. I've drawn a white line that's sloping up; this is a trend line that shows the price has been generally increasing over time – it's like a path that the price has been following upwards.
Just above the current price, there's a dotted line; that's the resistance...
This Week FORECAST
Opportunity for GBPJPY. This setup trading idea is for intraday. >> TAYOR
Risk Factors:
1. Market conditions, unexpected news, or external events could impact the trade.
2. Always use risk management strategies to protect your capital.
CPI approaching us in just over an hour.
Structure made, price will likely continue to consolidate prior to the breakout.
I am anticipating a sell.
Ideally we want a BR below the local support.
However a sell stop prior to news release will be sufficient.
What a dramatic move made by GBP to stay strong despite the monthly high resistance area. Here are some trade Ideas for GBPJPY.
1. A solid bearish candle formed or breaks below 188.247 can spark a seller's mood to continue the battle for a short position.
2. A failure to break through the support area 188.247 can cause the pair to swing up and wipe all short...
Technical and fundamental analysis are clearing GBPJPY in downtrend, upper resistance may be reached to be fall.
Chart pattern, after taking deep analysis over on GBPJPY and also looking at the coming events of this pair is clearing its way to slide in the downtrend.
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Comment
Support
Thanks to all my supporters.
Basic SMC analysis \ fib \ psychological level @188.000 region 23.6% fib kill area
looking to take a long position all the way to 193. last FVG on 1D TF which hasent yet been filled .
Expecting price to fill FVG's left behind and come to our POI at the last spotte OB/DEMAND zone.
Higher time frames show multiple BOS which indicate the weakening of the trend...
. 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.
Always make your analysis before a trade
Entry taken during Pre-London.
Price pushed to the upside because of Positive High Impact News for the GBP.
1. Daily Candle Bullish Indicating Buys.
2. Price creating HL's and HH's.
3. Entry Taken at 15 M Break Of Lows
