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Gbpjpy_outlook

GBPJPY Quaterly Trend Change INVESTORS ONLY Looking for a trend change in gbpjpy in coming months, we saw previous highs of 143262 which have recently been broken indicating the likelihood of a bullish direction. A close below 126494 will warn of possible decline. Weekly the last significant high was 145195, we have been generally trading up for the past 8 weeks. The market remains strong at this time, momentum below market on our model implying there is more upside to come. Overhead key resistance for a bull market stands at 222820. If broken the gates for previous major highs back in 1980 at 569550 will be open. All the best, like and comment your views!
Long
by TheBanker
4
GBPJPY long term analysisGBPJPY managed to breach and close above a trendline that has held since 2015. It is now fast approaching post-Brexit highs at the 143.10 area. A hint of this breach came through a swing failure from the US elections where it has since failed to take out the low at 124.60 area. It will be interesting to see whether it manages to sustain this rally as it is very overbought and some sort of pullback is due. If it manages to pullback without re-entering the downward trend and breaches the post-Brexit highs a move towards the 38.2% and longer term resistance (Red rectangle) is on the cards
by TradingTechs
gbpjpy monitoring currently GBPJPY is near a key weekly SR level, I would remain bullish for intraday positions because the daily bearish block has been violated with a clear uptrend channel. Many confluences. Overall on the monthly this is bearish market but my inner trendline on the daily has been violated confirming my short term bullish perspective. Furthermore, on the 4hour chart I would like to see if the breaker is respected or violated. If it is violated price would have to close outside of the 4 hour inner trendline and i would collect profit at 138. If the channel remains strong and weekly SR is violated i would buy pullbacks.
by hsa2501
Decision point in Pound/YenHi traders, today i want to share with you some of my daily analysis on pound/yen. As you can see in the chart the trend has been clearly bearish for the recent past. After the break of the level of 130 flat the price is now coming back to retest that level of daily support. Support could become resistance and so we are now in "alert mode" in lower timeframes. This means that we are going to seek for some reversal signal in order to short the market. Let's see how it goes.
Short
by Roker1