GBPJPY | Perspective for the new weekHeading into the new week, it is obvious that the GBPJPY overstepped its two-day high and has crossed the critical resistance of 164.00 towards the latter part of last week's trading session to set the tone for a bullish expectation. Coupled with the key level @ 161.5, the bullish trendline identified on the daily timeframe shall be my guide to a bullish potential in the new week.
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Gbpjpybuy
GBPJPY: Bullish Inside Bar + Pin BarGBPJPY – SPOT: Buying On A Breakout Above The Bullish Inside Bar + Pin Bar (Combo Setup)
Price Action: Price formed a Bullish Inside Bar + Pin Bar (Combo Setup) overnight.
Price moved higher from the Inside Bar Pattern that had formed earlier this week (We did not consider trading this pattern).
Price moved higher from the prior Bullish Fakey + Pin Bar Setup that had formed late last week.
Potential Trade Idea 1: We are considering buying on a breakout above the Bullish Inside Bar + Pin Bar (Combo Setup).
Potential Trade Idea 2: We are considering buying on a retracement lower to within the range of the prior Bullish Pin Bar Signal (Which is a part of the prior Bullish Fakey Setup).
GBPJPY: Bullish Fakey + Pin Bar SetupGBPJPY – SPOT: Buying Within The Range Of Bullish Fakey + Pin Bar Setup
Price Action: Price moved higher from the Bullish Fakey + Pin Bar Setup that had formed late last week.
Price moved higher from within the range of the recent Bullish Multiple Inside Bar + Pin Bar (Combo Setup) that had triggered around three weeks ago (We suggested trading the pullback to this setup in the June 1st, members' daily newsletter).
Potential Trade Idea: We are considering buying on a retracement lower to within the range of the current Bullish Pin Bar Signal (Which is a part of the current Bullish Fakey Setup).
GBP/JPY Made Double Bottom , Long Setup After Confirmation ?This is an educational + analytic content that will teach why and how to enter a trade
Make sure you watch the price action closely in each analysis as this is a very important part of our method
Disclaimer : this analysis can change at anytime without notice and it is only for the purpose of assisting traders to make independent investments decisions
GBPJPY top-down analysis Hello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
GBPJPY Hold Major EMA GBPJPY was one of the best performers this week and surged more than 400 pips on weak yen. The pound sterling regains 1.3200 and markets eye UK retail sales for further direction. Any breach above 1.3300 confirms further bullishness. The intraday trend of GBPJPY is bullish as long as support 159 holds.
GBPJPY LONGBy looking at the price action, its easy to see that the pair has been moving in a bearish direction for serval days. Current price action suggests that we might be in for a short term bullish correction.
We have spotted the formation of an inverse head and shoulder pattern on the Daily chart and when we move to the H4 time frame, this pattern is more clearer. Another reason for our bullish short term
basis is because we have spotted a change in market structure from bearish to bullish as per our key level. We will be looking for an entry on the retest of this key level. The target for this trade is around
high of the previous month. The risk reward for this trade currently stands at 7.87 to 1. We plan to hold until target or close manually as per our trading plan rules.
GBP/JPY Finally Closed Above Our Res,Long Setups To Get 200 PipsThis is an educational + analytic content that will teach why and how to enter a trade
Make sure you watch the price action closely in each analysis as this is a very important part of our method
Disclaimer : this analysis can change at anytime without notice and it is only for the purpose of assisting traders to make independent investments decisions