NOTE! The GBP/JPY is a clear bearish trend. However there are 3 (+1) mains reasons why the market may rally up a little bit.
1. Formation of the 3 White soldiers pattern.
2. The extension and retracement levels join the red trendline.
3. The .382 Retracement of the A-B leg falls on the same level is the extension ...
NOTE! The GBP/JPY is clear bearish] trend. But there is a possiblity for a retracement to the .382 level because the following reasons.
1. Three white soldiers pattern is formed and closed on the weekly chart.
2. The .382 retracement level of the A-B leg is at the extension of the blue A-B ...
2 ways to trade.
1. As you can see there is a possiblity if the market continues to go down that there is a head & shoulders.
2. If the market breaks the upper trend line, you can buy up to the blue rectangle. (If there is a break out even go higher)
NOTE! Head & shoulders is not yet formed.
The USDJPY is a clear bearish trend on the weekly, daily chart. on the 4H chart however there is a possiblity to make a quick trade against the trend by buying at the breakout of the triangle.
BUY: Breakout traingle aim at previous high channel level.
SELL: Breakout traingle aim at previous low ...
GBPUSD; Easy play. Market heading down to the trendline as the result of the bearish gartely pattern.
Look to buy at the trendline when market fails to break.
When the market breaks the trendline aim down around the 1.44817 lvl.