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Gbpjpy_outlook

Fancy riding a bucking bronco?After Thursday and Fridays bearish run last week price is now sat at an important support level and with Fridays candle closing as bullish on the 4H chart we are expecting price to carry on respecting this level, we might get 1 more test and bounce of this level before finally ending up in our green zone. Wit the only high impact news for this pairing coming on Wednesday and Friday the fundamentals shouldn't play a part, Mondays are genuinely slow in the market anyway, but we should be able to reach our target by Tuesday. Just take in not that when trading GBP pairings sudden in expected news about brexit can make the markets move like a bucking bronco... so be prepared for the bumpy ride.
Long
by ApexFX_Pro
2
GBPJPY: BEARISH TP: Intra to 145.5 - 200 Pips #Forex #FxProNow GBPJPY: BEARISH TP: Intra to 145.5 - 200 Pips #Forex #FxProNow We have seen GJ push for a while to the upside without a retrace or break of Structure on any significant TF, until now... We see that the M30 TF has broken a level of support. I would wait for either we see a nice retrace to 38.2 on that M30 Break then a nice bearish engulfing form OR it break the support that it is currently at right now... Again retest the broken area and strike! 145.5 is our target because it is at least 38.2 on Fibs for the H4 TF's move.
Short
by FxProNow
1
GBPJPY: BEARISH TP: Intra to 145.5 - 200 Pips #Forex #FxProNow GBPJPY: BEARISH TP: Intra to 145.5 - 200 Pips #Forex #FxProNow We have seen GJ push for a while to the upside without a retrace or break of Structure on any significant TF, until now... We see that the M30 TF has broken a level of support. I would wait for either we see a nice retrace to 38.2 on that M30 Break then a nice bearish engulfing form OR it break the support that it is currently at right now... Again retest the broken area and strike! 145.5 is our target because it is at least 38.2 on Fibs for the H4 TF's move.
Short
by FxProNow
1
GBPJPY: BEARISH TP: Intra to 145.5 - 200 Pips #Forex #FxProNow GBPJPY: BEARISH TP: Intra to 145.5 - 200 Pips #Forex #FxProNow We have seen GJ push for a while to the upside without a retrace or break of Structure on any significant TF, until now... We see that the M30 TF has broken a level of support. I would wait for either we see a nice retrace to 38.2 on that M30 Break then a nice bearish engulfing form OR it break the support that it is currently at right now... Again retest the broken area and strike! 145.5 is our target because it is at least 38.2 on Fibs for the H4 TF's move.
Short
by FxProNow
1
GBPJPY: BEARISH TP: Intra to 145.5 - 200 Pips #Forex #FxProNowGBPJPY: BEARISH TP: Intra to 145.5 - 200 Pips #Forex #FxProNow We have seen GJ push for a while to the upside without a retrace or break of Structure on any significant TF, until now... We see that the M30 TF has broken a level of support. I would wait for either we see a nice retrace to 38.2 on that M30 Break then a nice bearish engulfing form OR it break the support that it is currently at right now... Again retest the broken area and strike! 145.5 is our target because it is at least 38.2 on Fibs for the H4 TF's move.
Long
by FxProNow