GBPJPY NEXT TRADE SETUPGBJPY currently running at 136.214 and have made a clear bullish momentum towards its next resistance at 137.30 on H4 timeframe.
If it breaches the minor resistance at above blue zone which end on 136.40, then it will be a clear bullish movement. Buyers can hold their trades till next resistance.
Remember : GBPJPY just like most of other GBP pairs (GBPUSD) is on two days bullish streak.
The entries on this trade idea shall be taken only if all the rules of entry are satisfied.
Contact us for any query.
Gbpjpy_outlook
GBP/JPY Wave Analysis
After a strong bull run, the counter is currently in corrective (ABC) mode.
It has completed wave A and is forming its final leg of wave B.
It is now up against a resistive trendline and a break above it can take it higher.
Hence, we advise traders to initiate long positions only when an hourly candle closes above the trendline.
BRITISH POUND/JAPANESE YEN GBPJPY SHORT30 minute structure broken.Wait for a potential retest and short the pair To the daily support level 136.00. FX:GBPJPY
* WEEKLY TREND =UP
*DAILY TREND = UP
*H4 TREND = UP
30 MINS TREND = DOWN(can ride the trend down to the H4 or Daily Key levels for short profits
GBPJPY approaching intermediate resistance,potential reversal!
GBPJPY is approaching its intermediate resistance at 139.382 where it is could reverse down to its support at 135.753.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
GBPJPYTime = 1H
– Structure = Uptrend
– Pattern = Elliot wave
– Tendency = Downtrend
Time = D
– Structure = Downtrend
– Pattern = Fibb Retracement
– Tendency = Downtrend
*** Price tested & Couldn't fully breakout 0.618 Fib Resistance.
** Above Chart indicated with Heikin Ashi FOR CLEAR VISION!
GOOD LUCK
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