HELLO TRADERS!!! After my top down analysis after market close my confirmation to enter a trade once again aligns which is my ENTRY DIRECTIONAL BIAS. This signifies incoming selling opportunities.
ENTRY : market created a Previous Low and High, now we are waiting for the market to pullback to around 183. around Asian/London session for the test to continue the selling .
looking to long, if 1hr close shows some support at our entry.
also our current zone, if this area holds. looking to scalp long too to previous close high. not wick
Gj shorts played out nicely! I did manage to close some profits a few pips short from tp. Left 1 runner to see if GJ could possibly dump to the original target. Stops have been moved to break even for the 1 runner! So far so good. Now it's pretty much a waiting game!
The GBP/JPY pair is trading in a sideways pattern, hovering just above the 183.00 level. JPY’s underperformance and the BoJ’s dovish stance are significant factors. On the UK front, the potential pause in interest rate hikes by the BoE due to emerging recession fears, coupled with technical indicators pointing at a potential bearish momentum for the Yen, suggests...
The asset in question is currently adhering to a prevailing downtrend, exhibiting a prolonged phase of consolidation. Notably, it has recently dipped below the support level observed in the previous two weeks, located at the 184 area. In the upcoming sessions, our strategy revolves around the potential for a price rebound, targeting the 180.4 threshold as a...
GBPJPY
stabilizing above 183.43will support rising to touch 183.80 then184.24 then 184.66
stabilizing under 183.12will support falling to touch 182.53 then 181.52
Pivot Price: 183.12
Resistance prices: 183.80 & 184.24& 184.66
Support prices: 182.53& 182.02 & 181.52
timeframe: 4H
Hello everyone! GBP/JPY's bullish rally has run out of steam and
price is slowly descending to the downside here.
📌At present, we are noticing the formation of a wedge-like pattern
in the daily chart of GBP/JPY.
📌Despite this, the uptrend may be short-lived as price may fall
to 179 in the coming days.
📌My recommendation is to sell the rallies in GBP/JPY. If...
I have set this position based on my analysis of the market and trading strategy. Therefore, it is recommended that investors conduct their own research and due diligence before making any investment decisions
I have set this position based on my analysis of the market and trading strategy. Therefore, it is recommended that investors conduct their own research and due diligence before making any investment decisions
Price is hovering at our buy entry at 182.78, which is an overlap support level, aligning with the 78.6% fibo retracement and 61.8% fibo projection. Stop loss is at 181.63, which is an overlap support level, and slightly below the 78.7% fibo retracement. Take profit is at 183.84, which is at the previous swing high resistance.
High Risk Investment Warning...
Trying GBPJPY lower here.
Overall the GBP narrative has worsened recently, there is worsening UK economic data and also worries that further hikes form the BoE will result in a uk recession. The GBP CPI dat this week is likely to surprise to the upside which i think will make things worse as it will strengthen staglfation worries. The BoE is also in a tough spot...
We can see that GBPJPY has recently broken its positive trend line and started to establish bearish nature. I have established a descending triangle with a targeted entry:182.644.
Reasons to take:
- Stochastic is downward facing, below 50, oversold (%D is currently touching %K so waiting for it to be above).
- Momentum is declining and negative.
- Riding it’s lower BB
According to the behavior of the price in the current support range, possible scenarios have been identified
It is expected that the continuation of the downward trend will take place and advance to the specified targets
