I see Head and shoulders pattern on GBP/JPY…..Sell
Here is our detailed technical review for GBPJPY. Time Frame: 6h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The price is testing a key support 190.518. Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 191.811 level. P.S Please, note...
GBPJPY is in bullish bias. According to the higher time frame like daily or 4 hour, the pair is in uptrend. Now the pair is retracing bearish to have some liquidity and to mitigated the nearest imbalance. Expecting further bullish movement targeting recent swing high.
Possibly 30min head and shoulder formation of GBPJPY, going inline with higher inflation prints from JPY creating increased pressure on BOJ for rate hikes
If with London volume we broke down with nice closure (close to the range bottom) I will tak fast short. BE and majority TP as pictured on the chart. Very small room to operate so will be picky about setup.
GBPJPY Making a H&S in a top of bullish trend 📈 Place an order of sell stop at the Breakeven point
GBPJPY Head & Shoulder Pattern 4H. Waiting for the breakout and retest the support level 190.300
This is a video explaining my previous screenshot On the higher time frame, the #GBPJPY exhibits a bullish trend with a recent retracement into an equilibrium zone. As we delve into lower timeframes, we want to lookout for specifically, a double bottom setup followed by a break below the previous lows, a robust rally, and subsequently, a higher low formation...
I think the bullish waves finished at that zone , and now we just working on the short positions.
Pull back! SELL Now ! 80+ pips on GJ GBPJPY has made a clean red candle below the support. Now that GJ has retested support and rejected it with a nice red candle we can take sell entries. Watch as GJ is near the weekly resistance . This zone has also been confirmed, so we can see a rejection to test previous support areas tp 1: 4hr and daily support tp 2:...
On the higher time frame, the GBPJPY displays a bullish trend with a recent retracement into an equilibrium zone. As we delve into lower timeframes (15m - 5m), we should closely monitor specific price action patterns. Look for signs of a double bottom setup followed by a break below the previous lows. Anticipate a robust rally and subsequently, a higher low...
It is expected that according to the possible scenarios, a trend change will be formed in the specified resistance ranges and we will witness the beginning of the downward trend. Consolidation above the resistance level will create a continuation of the upward trend
Price is closing below the 191.00 resistance level after failing to break above it. This indicates a potential bearish bias forming. However, price is still holding above the 190.50 support level which needs to break to confirm the downtrend. Potential short entries could come on a rally up into the 191.00 resistance that gets rejected and closes back below...
GBP/JPY (British Pound - Japanese Yen) is the forex ticker that tells traders how many Japanese Yen are needed to buy a British Pound. The Pound is the fourth most traded currency in the world, while the Japanese Yen is third, according to the Bank for International Settlements (2016). Use the GBP/JPY chart to follow its live rate and to assist your technical...
1) Technical analysis : Observing the Awesome Oscillator (AO), it appears that there is a potential formation of a Higher Low (HL) pattern, indicating bullish divergence, alongside the market structure forming Lower Lows (LL). 2) Fibonacci Retracement utilization : I utilize Fibonacci retracement tool to identify potential price levels as the best buying...
GJ has hit my 40 PIP TP earlier today. I see another good sell opportunity the we can risk minimal to get a proper RR of 1.3 lets goo. My SL and TP will be adjusted to price action
GBPJPY Pivot 190.777 - If the price is higher than the pivot, Long target TP1 at 191.380, TP2 at 191.720, cut loss if the price is lower than the pivot. - If the price is lower than the pivot, short target TP1 at 190.350, TP2 at 189.670, cut loss if the price is higher than the pivot. ***Please money management***
Above is a view on GBPJPY for today. Key areas as well as the expected price action are mapped out and any feedback is more than welcome. Happy trading!