Following the Bank of Japan's interest rate decision, GBPJPY has surged by over 500 pips. Presently, it exhibits indications of rejection upon retesting the breached uptrend trendline, thereby confirming a potential short position. TP and SL levels have been identified and delineated. It is imperative to adhere strictly to risk management principles. Kindly review...
💷GBPJPY💴 Month March Monthly High: 193.531 Monthly Low: 187.862 Richard Eyo ~ The Wizard 🧙♂️
Clean impulsive move today. Will look for a short tomorrow by setting a limit. Let’s see!
💷GBPJPY💴 Weekly 03/25/2024 Weekly High: 191.672 Weekly Low: 190.333 Chart Pattern: Symmetrical Triangle 💎Buy GBPJPY @ 190.5 - 190.3💎 Sunday 03/24/2024 07:14 PM EST Richard Eyo ~ The Wizard 🧙♂️
I saw a trendline break-out and now i am waiting for candlestick confirmation to go short but if there will be no formation of bearish candlestick confirmation I'm not entering the market
GBPJPY is currently following a bullish market structure and is now retracing to the downside, targeting the point of interest (POI). There are some imbalances at the bottom of the recent trading that the price needs to mitigate. Expect a bullish continuation when the price touches the POI. The target of the bullish movement will be the recent swing high.
From what I can see, price looks like it created a descending triangle on the 4H timeframe. This was after price had a sharp but short bearish movement. I believe price will continue its bearish momentum until it reaches the support area of 188.300.
Based on the H4 chart analysis, we can see that the price is rising toward our sell entry at 190.30, which is a pullback resistance that is close to 78.6% Fibo retracement. Our take profit will be at 189.34, a pullback support level. The stop loss will be placed at 191.32, a swing-high resistance level High Risk Investment Warning Trading Forex/CFDs on...
Based on the H4 chart analysis, we can see that the price is rising toward our sell entry at 193.09, which lines up with the 161.8% Fibo extension Our take profit will be at 191.31, a pullback support level. The stop loss will be placed at 194.98, which lines up with the 161.8% Fibo extension (week) High Risk Investment Warning Trading Forex/CFDs on margin...
As long as the price fluctuates below the green resistance range, a corrective trend is likely. By crossing the support trend line, confirmation of the downward trend will be issued
Daily timeframe has clear uptrend Price currently ranging near moving averages Buy stops at 191.253 Sl at 190.760 or little lower to account for spreads Tp 193.517
We are starting to sell toward the 188.038 level, and since this level cause break of structure a lot of traders will be buying from here putting their stops just below the level( using the smart money concept). But just below this level we have unfilled orders or true demand, the caught traders will allow the unfilled orders to be filled.. for now we sell...
Daily - looks promising to either side. if it holds above **191.213 - 190.515** then we are long biased, if below then we are short biased. depends on how it closes today. Origin - same deal here as daily. if price closes below **191.000** we are short biased and if it pushes up and holds above **191.175** then we can look for longs. need the daily zone to get...
Based on my weekly bias I will be looking for short positions pick your entries on 15m,30m TF
GBPJPY Pivot 191.000 - If the price is higher than the pivot, Long target TP1 at 191.630, TP2 at 192.150, cut loss if the price is lower than the pivot. - If the price is lower than the pivot, short target TP1 at 190.580, TP2 at 190.060, cut loss if the price is higher than the pivot. ***Please money management***
Hey Traders, Check out this technical analysis on GBPJPY; it appears to be undergoing a small pullback, potentially indicating a bullish momentum continuation. However, I would recommend waiting for a proper retest of the broken key level before considering a buy-trade entry. Alternatively, there may be an opportunity for a sell trade if the market breaches the...
OANDA:GBPJPY 4H Time Frame Trade Idea for the Week 4/1/2024 TO 4/5/2024