As long as 185.76 resistance holds, further decline is expected in GBP/JPY. Break of 182.66 will resume the fall from 186.75. Sustained trading below 55 D EMA (now at 182.39) will argue that it’s already in a larger scale correction and target 176.29 support next. On the upside, break of 185.67 resistance will indicate that the pull back from 186.75 has completed....
Currecy pair is trending in a bearish direction. It made a bearish flag with a bearish divergence. Breaking below the last minor HL will dictate continuation of bearish trend.
The weekly chart highlights two doji-style candles. The daily chart highlights mixed results for the last 19 trading days.
This lack of clear direction has resulted in a corrective channel formation being posted on the intraday chart.
Trendline support is currently located at 181.88. With bespoke support seen at 182.00, I am looking to this zone (182.00-181.88)...
The BoE has actually adopted a more cautious stance recently, as is clear from Governor Andrew Bailey's statement that the central bank is approaching the peak of its interest rate hike cycle. Despite persistent inflationary pressures, the BoE faces a delicate balancing act, as being too aggressive with interest rate hikes could endanger the UK economy.
SELL...
Initiated a long trade for GBPJPY.
GBPJPY is above the Cloud and has potential to bounce from with one of those two trend lines.
Also there's a gap at the start of today session on many charts. This can help bring in more buyers.
Hello Trader
I am Duc Nguyen Trader Form HoctradeFX
I have something about GBP/JPY
H4 Trend: Down
H12: Tweezer and we can SELL LIMIT or SELL MARKET now. TP 4R
Hello traders,
Wave 4 is supposed to end at 184.386-184.720 zone. Then wave 5 is supposed to materialise
towards the support zone at 182.180-181.850.
Thanks.
– Previous Daily candle closed Bullish at 184.180 respecting Daily Support formed on Tuesday.
– Buys on close above 184.380 targeting 4h Resistance at 184.660, Leaving Runners to the 30min Resistance formed around 184.920.
– Sells on close below 183.690 targeting 1h Support formed at 183.340, Leaving Runners to the 4h Support formed around 182.990.
– Despite the...
GBPJPY has formed a diamond bottom pattern and the price is trading above the BREAKOUT: 180.524
Target zone 1
62%: 183.147
79%: 183.854
127%: 184.769
227%: 184.769
Hello, fellow traders! 👋📈 Welcome to TCPLTP (Trade Chart Patterns Like the Pros)!
Today, we'll dive into an exciting analysis of GBPJPY using the Mama Diamond pattern, which has now given birth to a little baby diamond. 🤩💎 We'll explore how to leverage existing Fibonacci ratios as support and resistance levels within this single pattern structure.
GBPJPY is...
GBPJPY has formed a cup and handle pattern on its daily chart.
The price is trading above the Breakout: 166.016.
ST: 164.201
Targets:
62%: 170.848
79%: 172.090
127%: 175.923
162%: 178.583
Price reacted from the 4hours demand zone and there's been a structural shift.
The 1hour timeframe orderflow is bullish therefore I'm expecting a buy.
On the 15min timeframe, I waited for a break of structure to fully confim my bias. An orderblock is formed which is valid.
Reasons why it is valid is because, there is a fair value gap above it and then there is...
hello
interesting
I noticed a flag pattern on HTF, and a bear trap on LTF.
**My trading strategy is not intended to be a signal. It's a process of learning about market structure and sharpening my trading skills**
Thanks a lot for your support
