Hello traders,
If you are shorting keep it open to the rectangle!
If not! Any correction is a selling opportunity.
Levels calculated order_block, regarding support and resistances, channel and pivot points.
Could this be the next trend continuation for GBPJPY? The market is currently in a trend to the downside after the rejection based on weekly TF.
Let's see how this will play out
GBPJPY
The price may form a third wave pattern. This could bring further downside movement towards 180.322
What can you expect now?
The entry can be considered a breakout of the level of 181.860.
Targets 181,284 – 180,915 – 180,322
GBPJPY was in bullish trend printing HHs and HLs before it made a bearish divergence on RSI. Its making a Head and Shoulder pattern and if its broken, another bearish spell may be seen. Shorts may be prepared below neckline.
Hello Traders, here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied. Please also refer to the Important Risk Notice linked below.
GBPJPY was trading in descending parallel channel and recently it seems like the sellers are bit exhausted now and bulls took the charge and now has given the breakout from descending channel.
Currently the price is forming a local support around 181.80 region.
Will the bulls take charge again continue for leg higher?
What you guys think of this idea?
GBPJpY started to dump last week & I see it continuing to drop this week.. a retest is warranted at marked level & down it goes . Short sell that may possibly pick up for more
Bearish GBPJPY as Japan's key economic ministers warn of currency intervention
Japan's key economic ministers have warned of currency market intervention, keeping investors wary of a further sell-off in the yen and weighing on the GBPJPY exchange rate.
The yen has weakened sharply against the dollar in recent months, hitting its weakest level in nearly a year...
It is expected that the price will change the trend in the specified support range and we will see the beginning of the upward trend
If the price can cross the support range, it will be possible to continue the correction process
GBPJPY looks like its about to reverse back to the upside. We Seen GBPJPY holding this level but on daily it broke its high and rejected it. so hopefully we see it continuing
