GBPJPY not doing much from last couple of weeks so have to resort to Support play to trade.
In the short term going into next week I expect to see the pair slide further down. Break & close below the trend line (lower channel line) would likely spike interest to short this pair after refusing to make new highs. Candlestick patterns confirms further rejection for a push to the upside.
The area around the WR1 (192.52) pivot both last week and this week has been a bridge to far for GBP/JPY BULLS. I've shorted this pair 4x this week and we're back at the pivot once more. Yesterday saw a massive sell off in the early hours and this looked like it was the end for GBP/JPY BULLS but amazingly they've recovered all lost ground and the price is pushing...
GBPJPY signaling a trendless market. Similarly the RSI continues to hover around confirming the current indecisiveness of market participants. More importantly, the stochastic oscillator is trying to edge above its moving average, but such a move needs to pick up pace in order to be seen as a strong signal
In recent trading sessions, the GBP/JPY pair has embarked on a notable bullish trajectory, diverging from our previously envisioned bearish scenario. This shift in sentiment is evidenced by a series of bullish candles, signaling a resurgence in buying pressure. The pair has retraced to the pivotal zone around 192.200 - 192.500, where a convergence of technical...
Currently, the GBP/JPY pair is signaling a selling opportunity as it hovers around the 192.11 mark. This indicates a potential downward movement in the pair's value. Traders could consider setting multiple take-profit levels to capitalize on various price points, such as at 191.50, 191.30, and 190.50, to secure profits as the pair declines. Meanwhile, it's...
The current buy zone for GBPJPY is at 190.65, indicating a potential entry point for traders looking to initiate a long position. This level suggests a favorable opportunity for buyers to enter the market and capitalize on potential upward movement in the currency pair. Additionally, setting take profit levels at 191.00, 191.50, and 192.00 allows traders to lock...
Additionally, the rising tension between Israel and Iran heightens concerns of a wider conflict in the Middle East, providing some support to safe-haven currencies like the Japanese Yen (JPY) and creating a headwind for the GBP/JPY cross. The latest data from the Office for National Statistics showed on Friday that UK Retail Sales arrived at 0% MoM in March from...
Pivots are the most significant indicator for how I trade. I cannot understand why EVERY trader, no matter what their approach is, wouldn't use weekly pivots. The beauty of pivots is that they are the ONLY indicator that is set at the start of the week so you know where the price is in relation to the pivot days before the price gets there. This week on GBP/JPY...
#GBPJPY UPDATE Hey team we are to update about GBPJPY. GBPJPY is making rising Wedge Pattern.we can see here a good drop in price. War is effecting the whole market badly. Trade carefully with proper risk management
Based on the M30 chart analysis, we can see that the price is rising toward our sell entry at 192.02, which is an overlap resistance. Our take profit will be at 190.84, an overlap support level. The stop loss will be placed at 192.01, a multi swing-high resistance level. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk...
4HR trend breakout with a wick attracts price to retest that area one more time and if that wick is taken out with a candle body close ,then i'm looking for a long term sell on GBPJPY
Considering the two recent downward waves and the fact that the price has not been able to cross the green support range, it is expected that after some fluctuation, the continuation of the upward trend will take place. If the price crosses the green resistance range, the upward trend will continue
the retail sales report will be out in less than an hour . This can go either way , however its a decent sell a the moment . Nanage your risk and go for 1:3 risk reward with 0.2 of your trading account as stop loss... lets go bears on this one .
The GBP/JPY pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined pattern. Key Points: Sell Entry: Consider entering a short position (selling) below the broken support level, ideally around 192.80. This offers an entry point close to the perceived shift in momentum. Target Levels: Initial...
The GBP/JPY pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined bearish wedge pattern. This suggests a potential acceleration of the downtrend and a higher likelihood of further declines in the coming hours. Key Points: Sell Entry: Consider entering a short position (selling) below the broken...
Price is still maintaining overall uptrend structure. Watch for break and retest to potentially push up to 194.500 as part of move
GBP/JPY is falling towards a pullback support and could potentially bounce off this level to climb higher. Buy entry is at 191.72 which is a pullback support that aligns with a 38.2% Fibonacci retracement level. Stop loss is at 191.25 which is a level that lies underneath the 50.0% Fibonacci retracement level. Take profit is at 192.71 which is a pullback...