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Gbpjpybuy

GBPJPY dropping nicely from resistance, potentially more bearishGBPJPY is testing major resistance at 149.86 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) and a strong reaction could occur at this level to push prices all the way down to major support at 147.14 (Fibonacci extension, horizontal swing low support). Stochastic (55,5,3) is seeing major resistance below 94% where a corresponding reaction could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill
1
GBPJPY Setting Up Nicely For A PlungeGBPJPY is right on major resistance and is setting up nicely for a plunge from here. Sell below 149.86. Stop loss at 150.76. Take profit at 147.14. Reason for the trading strategy (technically): Price is seeing major resistance below 149.86 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) and a strong drop from here could push prices all the way down to major support at 147.14 (Fibonacci extension, horizontal swing low support, Fibonacci extension). Stochastic (55,5,3) is seeing major resistance at 94% where a corresponding reaction could occur.
Short
by theforexarmy
GBPJPY testing major resistance, potential drop!GBPJPY is testing major resistance at 149.18 (Fibonacci retracement, bearish divergence, horizontal overlap resistance) and a strong drop could occur at this level to push price all the way down to major support at 147.50 (Fibonacci retracement, horizontal swing low support, Fibonacci extension). Stochastic (89,5,3) is also seeing major resistance below 96% where a corresponding reaction could occur. We’re also seeing bearish divergence vs price signalling that a strong reversal could be approaching. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill
GBPJPY going long..I feel that GBPJPY will be reaching for the stars this week for several reasons. The price is oversold on the RSI Stochastic indicator as well as a crossover of the EMA to the upside. It looks like a bull flag could be forming. Price has continued its recent uptrend since October 2016. It seems to be respecting a trendline and may be starting another take off following a pullback in February 2018. The Great Brithish Pound is looking good for the week for a positive bullish sentiment. Disclosure: *Trading foreign exchange carries a high level of risk. Trading is not for everyone and losses could easily exceed investment capital. Results are not typical. Use proper risk management and smaller lot sizes to protect accounts.
Long
by pipared1