Gbpjpydaily
GBPJPY - COMING UPTREND COMINGAUDUSD has retraced to Fibonacci retracement
level of 0.382 as previously surmised. i am not
expecting the bulls to rally in within the next
10 days (my opinion)
Also Stoch RSI is going into oversold territory.
Be ready to jump in for a buy if you are not in already
See previous analysis
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GBPJPY - Intra Day AnalysisSup everyone!
Currently we're looking at GBPJPY on the M15 for a nice short entry.
The pair is currently forming a H&S with beautiful chopstick divergence on the TDI.
Again, we're waiting for the Market Makers to move before we move.
First target will be 25 pips from entry, second target will be 5-10 pips above the 00 figure.
Stop will be put above HOD or above structure formation.
Confluences:
- H&S
- TEFA (technical failure)
- TDI divergence
- Speed into Level 3
GBPJPY Low risk buy tradeGBPJPY rallied very sharply past few days back, breaking out the short term downtrend line, price action is so far retesting this trend line, with signs of compression, momentum is supporting the view as well so I am dipping my toe into the water to see if it works for me. Watch this market carefully.
Trade Safe!
GBPJPY Daily Analysis - Price ActionGBPJPY has broke are 144.000 Level with no hesitation. That being said, I would like to see a retest around 144.000 and short to the downside. I think we can very well come all the way back down to the level 140.000 over the upcoming weeks. I would be looking for SHORT opportunities than buying, since we are in the DOWN trend with a break of the recent lows.
GBPJPY time to add into short positionsWe shorted GBPJPY earlier last week and i am looking to add into shorts, since market tried to reach highs but couldn't sustain and broke down, in my opinion GBPJPY still got more potential to downside move towards lows around 143.28. If you have your trading strategy look for short plays.
Trade Safe my friends!
GBPJPY SHORT IDEAON THE WEEKLY PRICE JUST BROKE OUT OF THE RISING WEDGE AND IS CURRENTLY DOING A PULL BACK FOR A BEARISH MOVEMENT TO THE 125 LEVEL.
ON THE DAILY CHART, PRICE IS IN A TEXTBOOK DESCENDING TRIANGLE
ON THE 4HR CHART, THERE IS AN INTERSECTION OF THE RESISTANCE AND A TRENDLINE AT THE 150 LEVEL, i AM HOPING PRICE WILL GET TO THAT LEVEL AND THEN TURN BACK WARDS.
I WOULD SET A SELL LIMIT ORDER AT THAT POINT.
GBP/JPY: Bearish - Breakout Potential Technical Analysis
The April Trend Line continues to be respected indicating the bears are still in control, with a potential breakout looming in the following days. To change my Mid-Term outlook to Bullish id be looking for GBPJPY to close above 149.9 level
Fundamental Analysis
This week Brexit is front and centre for Sterling with the European Council set to meet on June 28-29. Brexit will be discussed on Friday, June 29 so look for headlines concerning the matter to be delivered throughout the day. Markets are simply looking for concrete outcomes that give a clear view on what the future will look like. Perhaps this week we will get such outcomes. Sterling in its fragile state will be very susceptible to huge sell offs dependent on the outcome of this Friday's meeting.
Yen Strength is a key factor to consider when justifying GBP/JPY shorts as the dollar has fallen to a two-week low against the yen on the back of the latest global trade war concerns. For JPY, we saw the Nikkei dropped 176.21 points on the close last Friday, with stocks extending their losses on the Tokyo Stock Exchange on Monday, battered by the yen's strengthening against the dollar amidst increacing worries over the growing trade friction between the United States and the rest of the world.