Hello Traders and everyone, I am Hadi Karaali, Known as SNIPERS_FX
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GBPJPY IMPULSE CORRECTION MOVEMENTS. 📚
👉As we can see price is still overall bullish trading inside this flat rising broadening wedge pattern, in a shape of impulse and correction movements.
👉Moreover, price is sitting...
GBP/JPY: Price Corrects from 8.5 Year High
According to CNN, the economies of the UK and Japan entered a technical recession last week as data showed a second consecutive quarterly decline in gross domestic product. And if in the UK the economic downturn can be associated with high inflation and the strict policies of the Bank of England, then in Japan the...
The depicted zones are critical for #GBPJPY .The price can react to them and can be entered in long/short positions. Up to your entry type and risk management set TP/SL. Do not forget that you cannot succeed in this market without proper risk management.02/19/2024
GBPJPY's strong uptrend has run into a roadblock recently. The level of 190
is proving to be a hard nut to crack for the GJ bulls.
Technically, the price has reached the top of the price channel in the GBP/JPY daily
chart. Fundamentally, with the interest rates in Japan being so low compared to
Britain, the Japanese Yen is inherently weak against the British...
I am bullish today on GJ. Sell have a chance to aprtially or fully fill the 4H wick on the left side. However I would much rather see a nice buy setups.
First buying zone would be considered only if the 15/30min closure and its 1min confirmation is not too deep into the range as it is quite small. So fast BE would be placed and we would rely on volume to push...
With GJ being bullish at the moment and being above a daily high at 188.3 I’ve decided to go long. Personally looking for a 1:3rr on this set up with stops just below structure. Price ended up breaking and retesting 188.3 I’m just entering at an area I’m looking for price to potentially flip from to confirm longs. If price crashes then we can take advantage of...
Prices started to dip down towards last week’s sell side liquidity this morning, and continued on with the up trend in the 15 min chart. Looks like prices are aiming at the 189.420 level (TP1), then hopefully will take out 189.600 (TP2) and will continue on towards 190.066 (TP3) to fulfill that value gap. I’ve entered at 189.224, with the goal of taking out the...
Price perfectly follows the parallel channel. Now price moving near the resistance level. If the price respects this area and closes below this level then short selling is favorable after being confirmed by the bearish price action structure.
Considering the behavior of the price in the range and the resistance line, it is expected that a trend change will take place and we will see the beginning of the correction process. Therefore, it is likely to form a waste of time in the current resistance range
Initiating a sell entry in the USDJPY zone at 188.210, strategically aiming for take profits at 187.5000, 187.000, and 186.000. It's crucial to implement proper risk management, and a stop loss has been set at 189.500. Ensuring a disciplined approach is essential for successful trading.
GBPJPY
Pivot 189.180
- If the price is higher than the pivot, Long target TP1 at 190.070, TP2 at 190.530, cut loss if the price is lower than the pivot.
- If the price is lower than the pivot, short target TP1 at 188.270, TP2 at 187.550, cut loss if the price is higher than the pivot.
***Please money management***
– Previous Weekly candle closed Bullish breaking above recent Weekly Resistance, Friday Daily candle closed small Bullish forming Daily Support at 188.850. I’ll be looking for potential Buys above 189.470 targeting recent Daily Resistance at 189.820 and previous Weekly Support held back in 2004/2005 around 190.300. I’ll be looking for potential Sells below 188.840...
