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Gbpjpydaily

GBPJPY DivergenceGBPJPY has been in an up trend channel for a while and all the while the indicators have not confirmed the move. As you will notice the MACD and the RSI have been making lower highs while the price action has been rising. This is the definition of divergence or non-confirmation which suggests that the rally will soon come to an end. A lot of times knowing when the actual high is upon us is the hard part thus making it difficult to execute a trade with confidence. That is where the rising channel comes into play. Price has made its way to the upper part of the rising channel and is finding resistance which if these levels hold will provide a ceiling from which price can move lower. At this point the risk to reward appears to be favorable for a short trade given the price action that we saw on friday. So long as price can stay below the recent high then I will be targeting the lower trend line.
Short
by Andy_Garcia_CMT_CFTe
2
GBPJPY : GBP/JPY Formed Bullish Pin Par on Key SupportGBPJPY : GBP/JPY Formed Bullish Pin Par on Key Support As we know that 148.00 area of gbpjpy is a key support zone, It is Reversal zone for gbpjpy and market bounced from here earlier, similarly gbpjpy formed a daily base price action after touching 148.00 key support zone called Bullish Pin Bar. So we can take gbpjpy bullish on retest of mentioned D1 bullish pin bar which it has already done as you can see, so we can buy it @ CMP with tp of 153.00.
Long
by PkTk13
2
GBPJPY : IS THE RISK WORTH IT?Hi traders! GBPJPY is standing in a funny place. After a huge bull run was over, it was met by a healthy retracement. I'm getting plenty of different signal from this chart. I have 2 set of FIB extensions set in this chart because the up move was too strong and have super big gaps between the extensions. I have one for the weekly & one for the daily. Also, I added a order block which has been bought and put the price over top of it. The price close over the daily 0.5 and it just under the 0.5 weekly. The RSI is saying the me that they are still more buyers than sellers for this pair. MACD is about the cross... but right on the edge of it. So I'm looking what the GBP is doing vs other pairs and it looks positive. The same can be said of JPY who has shown weakness the last few days. If the price finds the momentum to go up, it will be a very nice push! For all those reasons, here's what I'm seeing : GBPJPY LONG ENTRY : 149.90 SL : 149.117 TP : 154.306 Trade safe! Disclaimer: This is my trading analysis, it is not an invite or recommendation to trade.
Long
by ScottMescudiForex
2
Potential Head & Shoulders on GBP/JPYIf this pattern completes, the daily zone (green area) where the breakout occurred recently will finally be re-tested. Look for a candle to close below the pink zone on the 1H chart or the blue zone on the 4H chart in order to short the pair down to this area. The rule of thumb for trading a H&S pattern is the distance - in pips of course :) - between the head and the neckline is how far down you will set your take profit. What is your analysis of GBP/JPY currently?
Short
by Jabest
Long GBPJPY Long Term Based on Bullish Gartley PatternWe've got a triple top on another idea, which we're waiting now for the break of a neckline for confirmation and the continuing drop will be in line with this Gartley pattern to complete Leg D. However, between the Targets 1 + Targets 2 of our Gartley pattern there is our 0.786 fib level, which we will be watching as the retracement for our Triple Top short trade entry - so keep an eye out at these levels. This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits. Please comment below and Like if you agree with my analysis.
Long
by AEFX786