g2rafael

g2rafael

Hi guys so here is my forecast for the next push to the downside here for the GBPJPY. This is just for educational purposes only and not for any financial advise.

g2rafael

After completion of the correction after our first strong sell wave Since hitting strong weekly resistance around 139 down to 132 we are looking for more downside here. The correction took more time than expected as most probably had to do with less liquidity in the market due to holidays. So now what we can see is the head and shoulders trying to complete and...

g2rafael

So what happened today was the completion of the 50-60 FIB retracement after we came down from 136.500 area as you can see clearly marked on my chart. And also half way through forming the potential H&S I posted last night. From tomorrow if we complete it we can start seeing some nice selling from next week. Key points for bearish momentum: Fundamentals: 1)...

g2rafael

lET'S SEE IF THE MARKET WILL FORM H&S AFTER TODAY'S NFP ONLY FOR EDUCATIONAL PURPOSES

g2rafael Updated 

So the market went as more or less expected last week so we sold once more after correction Monday towards Tuesday. For this week I am expecting potentially another correction as I can see some of the COT data long contract for JPY started to increase whilst shorts for GBP started to increase as well. So in this regard sell price for July maybe the projection...

g2rafael

Hi everyone so we have another spike of the market today which most probably has to do with corrections with RSI reaching extremes already. To me this market is withing the supply zone which can be selling off very soon as sell price can be 134 to 135. We have to see some exhaustion tonight before market closes as well. I have drawn with yellow brush how It may...

g2rafael

So the market decided on last day of the month to move to the liquidity zone as initially predicted on Sunday but then On Monday we saw big weakness in the market. Those kind of spikes do happen usually on last day of a month. It does not indicate that the long term bias is changing it's just setting up the liquidity zone of the month. To me the market looks...

g2rafael Updated 

So it looks like a chuck of volume has left the market now approaching July so I have shifted a bit up the potential tp3 area of the market. To me the market is still bearish but due to the lower volume in the market now can expect smaller movements. We can still make a new low in this market but it can take few days more to happen so to me now the market is...

g2rafael

We can see that the market rejected around 132.500 area so it is indicating that the yellow forecast may be invalid so in this case potentially we can see the market heading towards 130's. This is just for education purposes only.

g2rafael

GBP JPY MANAGED TO SELL OFF NICELY TODAY REACHED TP LEVELS. IT CAN POTENTIALLY GO DOWN TO 131.700 131.800 AREA AS WELL. HAVE A GOOD WEEKEND AND WE WILL HAVE TO SEE OVER THE WEEKEND WHAT TO EXPECT FROM NEXT WEEK IN THE MARKET. ONCE AGAIN ALL THIS IS FOR EDUCATION PURPOSES ONLY.

g2rafael

THIS IS MY 1ST AREA LOOKING TO TP TODAY. ACCORDING ON HOW IS THE SITUATION WE MAY SEE 1.31.700 BEING EXPOSED AS WELL. LET'S SEE WHAT THE MARKET WANTS TO DO THIS IS JUST FOR EDUCATIONAL PURPOSES ONLY

g2rafael Updated 

AND THERE YOU HAVE IT THE MARKET MOVES AS PREDICTED FROM LAST NIGHT. BECAUSE IT IS FRIDAY WE CAN POTENTIAL SEE THE MARKET IMPULSIVELY GOING DOWN TO 132 131.800 AREA LET'S SEE WHAT HAPPENS UNTIL TONIGHT

g2rafael

TODAY WE CLEARLY SAW THAT THE MARKET WANTS TO REMAIN ON THIS CONSOLIDATION LEVEL AROUND 133. ANY ATTEMPT TO GO UP FAILED. THE ARE NOT ANY BIG ANNOUNCEMENT TOMORROW REGARDING UK BUT WE CAN SEE MANY ISSUES WITH CORONA VIRUS IN US. SO MY VIEW FOR TOMORROWS THAT WE CAN POTENTIALLY GO DOWN TO 132 AREA WHERE I WILL BE LOOKING TO TAKE PROFIT. NO IDEA HOW LONG WE WILL...

g2rafael

So as we can see the market reached to a strong resistance where it failed big time to break it so you can clearly see that we should potentially expect downwards movement until the end if the week. My personal target is 130.8 if I see JPY strength I may put target around 130.2 or 130.4. So far we mainly been downwards due to GBP weakness. You can also notice that...

g2rafael

We can see that we have sort of h&s similar to last week's situation. Sold from 133 to 133.500 looking to potentially take profit around 130.600 but we have to see how it goes as we are within the last week of June so targets maybe harder to achieve due to lower liquidity. I will be happy around 132 or 131.500 personally and then let it go and wait for better...

g2rafael

The market decided to extend a little higher than expected which lot of times we can see on JPY pairs so that was no surprise. We had sort of fake news earlier regarding no trade deal on US and China which was corrected immediately by Trump saying the first deal is still intact. Even if it is with the corona virus, employee layoffs situation and investors in...

g2rafael

Hi all, as we can see we got our 1st reaction at the marked resisstance lelevel around 133.400. So now we have to see a lower low and a lower thigh to reverse and keep going down. We may see a double top or h@s in the next few hours, and after this is done start selling once more down to 129.500 area. Let's see how things develope. This is just for educational...

g2rafael Updated 

IF H&S IS VALIDATED IN THE NEXT 2 TO 3 HOURS WE CAN GO FOR A SHORT POSITION POTENTIALLY. ONLY FOR EDUCATIONAL PURPOSES