Let's go short on Monday!Could this potentially be the upcoming selling opportunity for GBPJPY? If so, I will monitor the market closely for a sell setup.
Gbp-jpy
GBPJPY 200 pips dropI expect a small pullback to 164.000 weekly level and then a massive drop to 162.000. Thats 200 Pips
GBPJPY Potential DownsidesHey Traders, in today's trading session we are monitoring GBPJPY for a selling opportunity around 164.5 zone, GBPJPY is trading in a downtrend and extending pullbacks seems to be approaching the major trend around 164.5 support and resistance zone. We would like to consider some potential JPY strength as it's considered a classic safe haven.
Trade safe, Joe.
GBPJPY 28/03/2023Details on chart - looking to continue the bullish bias of GBPJPY and create new HH's
GBPJPY Scalping and breakout opportunitiesGBPJPY is neutral between the Falling Resistance and a 1 year Rising Support Zone.
This creates an opportunity to scalp inside a Triangle pattern.
Besides that, buy above the Falling Resistance and target 166.000 (Resistance A + 0.618 Fibonacci) and sell under the Rising Support Zone and target 155.550 (Support A).
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GBPJPY Potential DownsidesHey Traders, in today's trading session we are monitoring GBPJPY for a selling opportunity around 162.7 zone, GBPJPY is trading in a downtrend and now seems to be in a correction phase in which extending pullbacks are approaching the major trend around 162.7 support and resistance zone. JPY is still considered a safe haven with current banking sector crisis.
Trade safe, Joe.
Gbpjpy analysis Seems Like gbpjpy Is ready For Bearish impulse
Ascending Channel breakout Has Already confirmed Retesting In process Incase Of Successful retest expecting 400 To 450 Pips bearish Move
GBPJPY Rebounded on the 3 month Rising SupportGBPJPY is trading inside a Channel Down for the past month.
The price hit today the 3 month Rising Support that started at the beginning of the year.
Trading Plan:
1. Buy as long as the Rising Support holds.
2. Sell if the Rising Support breaks (i.e. closes a candle under it).
Targets:
1. 162.000 (top of Channel Down and under the MA200 (4h)).
2. 157.000 (Support Zone (1)).
Tips:
1. The RSI (4h) is rebounding after hitting the oversold limit. This is technically a short-term bullish sign.
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GBPJPY 24/03/2023Details on chart - looking to continue this new short term sell bias to HTF PPL at 159
GbpJpy - Manipulation Point TradingBias: Short
Market Cycle: 2
Shorts only on this pair, yesterday was around 80% of an ADR move, so I classify the last 2 days as push 1 & 2..
Both the last 2 drops have been 200 pips so I would expect at least another 150-200 for the 3rd and final push..
160.82 is My 1h level to look for shorts. If we get above that I think we may push higher and maybe reverse (short term), ??
GBPJPY on a break of the 160 🦐GBPJPY on the 4h chart is trading above the 160 level.
We know how this pair particularly love the round numbers and we can wait for a potential break of it to look for a short opportunity.
The price in fact after the uptrend move took the liquidity at the 166 level with a false breakout move with the 164 and 162 as ket levels in the downtrend.
After a first test of the 160 the price tested the 162 resistance area and moved higher to the 0786 Fibonacci retracement to the 163 zone.
How can i approach this scenario?
I will wait for a potential break of the support area and if that will happen i will be look for a nice short order according to the Plancton's strategy rules.
Elliott Wave Favors More Downside in GBPJPYDecline from 2.28.2023 is in progress as a 5 waves impulse Elliott Wave structure. Down from 2.28 high, wave 1 ended at 160.02 and rally in wave 2 ended at 164.14. Pair resumes lower in wave 3 towards 159.19, and wave 4 ended at 160.49. Last leg lower wave 5 ended at 158.51 which completed wave (1). Wave (2) corrective rally ended at 163.34 as a double three Elliott Wave structure. Up from wave (1), wave W ended at 162.18, and pullback in wave X ended at 158.94. Wave Y higher ended at 163.34 which completed wave (2).
Pair resumes lower in wave (3) with internal subdivision as another 5 waves in lesser degree. Down from wave (2), wave ((i)) ended at 160.67 and rally in wave ((ii)) ended at 161.86. Pair has resumed lower in wave ((iii)) and broken below wave ((i)). Down from wave ((ii)), wave (i) ended at 159.91 and wave (ii) rally ended at 161.01. Expect pair to continue lower within wave (iii) of ((iii)). A break below wave (1) at 158.51 would confirm the bearish view and rule out a double correction. Near term, as far as the pivot at 163.34 high stays intact, expect rally to fail in 3, 7, or 11 swings for further downside.
GbpJpy - Manipulation Point TradingBias: Open
Market Cycle: n/a
MP's for todays trading...
Even though yesterday was a 1st push in market cycle, I am not against trading a break and retest above 161.41..
No1 preference is still short.
162.04 is a strong on the Daily, 4h & 1h - a KL and also 50% retracement from yesterdays push down..
GBPJPY 23/03/2023Details on chart - looking to play the bullish bias once rate hike arrives as expected at least 0.25% / this is priced in so slight pullbacks before continuing up
GBPJPY Potential DownsidesHey Traders, in today's trading session we are monitoring GBPJPY for a selling opportunity around 163 zone. GBPJPY is trading in a downtrend and now seems to be rejecting 163 support and resistance zone around the trend. if the rejection is confirmed i would consider the bearish channel support as a target. Fundamentally the Yen is considered a safe haven in time of uncertainty and during crisis so i still expect JPY be outperforming considering also that the market is expecting major changes in monetary policy from the BoJ.
Trade safe, Joe.
GBPJPY long trade tp 164.000Price action is probably a bit choppy in the next few days as we have important news for gbp. But I think that we will hit 164,000. I am still bullish
GBPJPY long to 164.000GBPJPY long to 164.000
not the best price action on daily timeframe
i am not long yet .. only overall bias need more confirmation for entry
GBPJPY 22/03/2023Details on chart - looking for buys ahead of more rate hikes to come but also wary of FOMC later in the day/evening
GBPJPY long to 162.000 - 164.000On higher timeframe im bullish for gbpjpy
Buy Area on 159.500 is really strong to buy
TP 1 = 162.000
TP 2 = 164.000
162.000 really imporant level
GBPJPY 21/03/2023Details on chart - looking for more buys if price pushes above 162 with high risk, high rewards buys available too above 161.500
GBPJPY 20/03/2023Details on chart - looking to play more sells as Yen the safe haven currency gains strength
GBPJPY Potential DownsidesHey Traders, in the coming week we are monitoring GBPJPY for a selling opportunity around 164 zone, one of the reasons i want to consider GBPJPY shorts is that JPY is considered as a safe haven in time of uncertainty. Technically we have noticed that extending pullbacks are approaching the major trend so i will be watching the price action around 164 supply and demand zone.
Trade safe, Joe.
Test no.2 on the IKFX strategy GBP/JPY 70pips Same strategy applied as gold on G/J 70 pip target in less than a 2hr active position on a late afternoon Fri close.
900 pips on 2 trades this week testing this strategy, so far so good
