Gbpjpy_outlook
GBP JPY in the zone143.581 - 143.379 is a lovely zone, you can see where price entered it and bounced bearishly ( to the downside, orange arrows ) and bounced bullish ( to the upside, purple arrows )
You can see the importance of this area, its like a sh#t city, nobody wants to stay or live there but you have to pass through it to get to where you want to go.... The candles are the same, they don't want to stay in this area because as soon as they enter this area they exit again.
We will be placing some SELL orders around this area as price will respect this zone or area again sometime in the near future.... You always have to stay 1 step ahead of the market.
GBPJPY TRADE OPPORTUNITYHello everyone, lets take a look a GBPJPY. There is two possible outcomes for this pair. On the short side we have a head and shoulders pattern with a break and close below the neckline. On the long side we have a descending wedge that we could break out of to the upside. Over all the trend is down but it wouldn't be unlikely for us to break the descending wedge and have a larger correction wave to the upside.
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GBPJPY - COMING UPTREND COMINGAUDUSD has retraced to Fibonacci retracement
level of 0.382 as previously surmised. i am not
expecting the bulls to rally in within the next
10 days (my opinion)
Also Stoch RSI is going into oversold territory.
Be ready to jump in for a buy if you are not in already
See previous analysis
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