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.
Gbpjpybuy
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
GBPJPY consolidation breakdownNot seeing any obvious areas apart from that major resistance and major support that i pointed out. So ill look at taking positions from those areas if price can show the right signs, for now ill be sitting on my hands and waiting with this pair unless we start to shape some obvious intraday setups.
GBPJPY Buy the break of yesterday high.GBPJPY - Intraday - We look to Buy a break of 154.76 (stop at 154.42)
A break of yesterdays high would confirm bullish momentum.
50 4hour EMA is at 154.70.
The previous swing high is located at 154.75.
Our profit targets will be 155.65 and 155.85
Resistance: 154.00 / 154.40 / 154.75
Support: 153.90 / 153.60 / 153.40
GBPJPY-BUY strategyFor those willing to adventure, I feel we may have a good buy strategy now, bearing in mind we are in an overall down trend of the pair.
The current cloud support 153.60 acts as our stop-loss area (below that of course), and the stochastic seems positive now, and may ignite a pullback. Again it is a slight adventure, because we don't have full confirmations, but I feel we may risk a small loss for a profit target of 155.27.
GbpJpy- Strongly bullish structure for 3k pips gainOn Friday I called for a break of support and, in the end, this break proved to be a false one and I closed my sell trade on break even.
As always, when I'm in doubt, I look at the longer TF, and here things are pretty clear, with GbpJpy in a visible uptrend since March 2020.
Also, the 2020 "pandemic low" and 2016 low have formed a nice double bottom on our weekly chart (very clear in monthly also).
At this moment the pair is consolidating exactly in the neckline resistance and considering the 6 months of consolidation the break should be very violent.
If this break will happen to the upside the next target is around 180 and the measured target of the double bottom is near 200, level confluent with a previous high.
Note: This is a very long-term outlook so don't expect 180 in 2-3 weeks
GBPJPY 3D Analysis 03/03/2021the price has broken the Top Boundary of the Ascending Channel and can continue its rally up to the provided TPs
as we can see the price has confirmed its rally by touching Fibonacci projection extension level 161.8% so we can target the 261.8% of the same Fibonacci projection level
Bat Complete, Expecting Bullish PushGBPJPY - Expecting a bullish push to build liquidity before price potentially breaks the strong demand zone at the WL
** Disclaimer ***
These ideas I never trade until the end target with my initial lots, I focused on high probable entries with higher lots and use a specific partial taking strategy giving me a very high win rate and take most of my profits very early, I only leave a small % of my capital to run the entire trade. On the flip side im constantly monitoring LTF momentum and will close early if things change, these analysis's are for research purposes only.