Gbpjpydaily
GBP/JPY Wave Analysis
After a strong bull run, the counter is currently in corrective (ABC) mode.
It has completed wave A and is forming its final leg of wave B.
It is now up against a resistive trendline and a break above it can take it higher.
Hence, we advise traders to initiate long positions only when an hourly candle closes above the trendline.
GBPJPY Signals : Buy After Market OpenHere's an idea on the GBPJPY pair, the pair is currently trading in an ascending triangle within a bigger ascending channel on the D1 chart the ascending triangle could be a signal for continuation on the pair. looking for a continuation to the upside and for the ascending channel to hold and continuation with the bulls.
Signal:
Buy after market open from Current Market Price 134.96
SL: 133.00
TP: 138.68
GBJPY multi frame analysisHello Trader, Here is the full analysis of GBPJPY:
1) Monthly - Prices are currently testing monthly support and if it break then it will test the 135.285 level.
2) Daily - We can see a retracement between 23 and 38 levels.
3) Hourly - We can prices are taking support at monthly level.
Action
With one hour prospect prices seem to be within weekly and monthly resistance and support. One can wait for either one to break and then take positions. If it falls below monthly then 135.196 will be tested and then possible up move will be seen. if crosses 141.028 then one can look for long position.
Technical Indicators:
Moving Averages Bullish
Technical Indicators Bullish
Moving Averages Crossovers Bullish
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GBPJPY approaching intermediate resistance,potential reversal!
GBPJPY is approaching its intermediate resistance at 139.382 where it is could reverse down to its support at 135.753.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
GBPJPYTime = 1H
– Structure = Uptrend
– Pattern = Elliot wave
– Tendency = Downtrend
Time = D
– Structure = Downtrend
– Pattern = Fibb Retracement
– Tendency = Downtrend
*** Price tested & Couldn't fully breakout 0.618 Fib Resistance.
** Above Chart indicated with Heikin Ashi FOR CLEAR VISION!
GOOD LUCK
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Disclaimer: Forex trading and trading in other leveraged products involves a significant level of risk and is not suitable for all investors.
GBPJPY potential bounce!
GBPJPY expected to reverse up to 1st support at 131.744 where it could potentially react and bounce to its resistance at 1st resistance at 133.189.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.