GBPJPY long based on Mongerskit Trading System GBJPY is still long according to our system. we are just facing a pullback.
we might either retest the support or make higher high.
Gbpjpydaily
GBP/JPY DAILY MY THOUGHTS ON GBPJPY
Rsi was around 80 and MACD crossed , could not break the red zone , did not go below the MA but broke the trend line
maybe a good short.
GBPJPY Long opportunityThe pair has broken D1 trendline and next candle is looking in the green zone. It may touch 144 in the coming two weeks. SL can be around 138 to 138.50
GBPJPY - Pound showing strength - The GBPJPY has broken above the 200 day MA to the upside, and recently over the 50 day MA again as well. I am choosing this time to take advantage of the upswing - SL at 138.50
The RSI is showing some signs of exhaustion but its still in the 60 area - the stochastic looks like it wants to embed in an uptrend and the MACD has made a positive crossover to the upside.
Let's see how this develops :)
GBP JPY long term playBrexit + risk off in the world today may break demand zone and then there is no bottom till 126.
GBPJPY BREAKOUT?If the current bullish momentum continues, this would be a great opportunity for a long position. Price broke upwards through the falling wedge which is also confluent with the resistance zone marked in black. upon spotting a good entry that's in line with my management, i'll be looking for price to follow roughly, the previous bullish run as highlighted with the blue rectangles.
GBPJPY with a BUY opportunityA descending triangle pattern,
followed by a strong resistance zone at 1470.734
There is a big chance of pull back towards triangle zone.
Hold onto your horses until price crosses this zone.
After crossover, a massive BUY opportunity with a 400 pip profit opportunity.
Stop loss around 139.000 zone
Risk : Reward = 1: 2.25
Wait For 50% RetracementThe 50% retracement support have been tested before. RSI and Stochastic haven't hit bottom yet. If the macro economics is going with the stream, it would hit 50% fairly soon, and we'll see if it reverses.
GBPJPY Plunges Below 138.90 on Flight to SafetyJust yesterday we were discussing the potential for the British pound to continue to advance against the greenback. And given yesterday’s close, that still seems likely so long as 1.2410 holds up as new support.
But the pair’s counterpart, the GBPJPY, hasn’t fared nearly as well over the past 24 hours. Yesterday’s plunge in equities has triggered a flight to safety via the Japanese yen. It seems we may have the long awaited answer concerning where the yen pairs are headed.
The last time I mentioned the GBPJPY, it had retested former channel support at 140.70, but buyers were still clinging to 138.90. Since that March 7th commentary, the yen cross has dipped below this level on several occasions.
However, buyers always managed to muster a daily close (5 pm EST) back above the level. As such, there’s been nothing to do here but wait for the imminent breakout.
It’s imminent because to the upside we have a trend line that extends from the December 2016 high at 148.44. And of course, the range bottom is the horizontal level at 138.90 which is once again under fire today.
So as you can see the pair is running out of real estate. But it’s going to take a daily close below 138.90 to open up the downside target at 136.45. This is the current 2017 low as well as the 50% retracement of the 2016 range which extends from 124.77 to 148.44.
Alternatively, a close back above 138.90 and subsequent break of trend line resistance would negate the current bearish outlook. But for now, all eyes are on today’s close and whether it will be above or below the 138.90 handle.
Look Out For The BreakoutJPY posted mixed economic figures, while GBP is not posting anything of importance today. A falling wedge has formed and is looking to breakout momentarily. Stochastic crossing close the the 20. mark. RSI and MACD rising. Note the strong support 2017-03-09 (see volume on the day).
My best guess it's a bullish breakout, if any. Yet, I'm waiting for the confirmation first.
GBPJPY flag squeezeWatching and waiting for this one to pop. Will it follow the last big break back at the beginning of NOV and continue long or will it pull back from the price stall? Keeping an eye on this one, could be a big move.
