GBPJPY top-down analysisHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
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Gbpjpyforecast
GBPJPY 31/08/2022GJ if breaks out of the current resistance at 161.967 then it might continue pushing up to 162.672 or create new higher high if even breaks out of 162.660.
Similarly if gj makes a break & close below the major support at 161.170 then we can look for trades on short side anticipating gj to continue pushing down to retest 160.106 key zone.
Will GBP/JPY rally to the upside again?For the last few days, GBP/JPY is consolidating in a small range in the minor support
area that I have highlighted in my chart.
This area is also important because the 100-day EMA lies just above it.
If we can see a strong bullish impulse now, there is a good chance that GBP/JPY will rally
to the upside again with 163,165 and 168 being the immediate targets.
That being said, the bulls need to watch out for the minor support level and trade carefully
because if it breaks, then GBP/JPY will decline very fast.
To keep the risk low, I will buy as close to the support level as possible.
GBPJPY top-down analysisHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
GBPJPY top-down analysisHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
GBPJPY possible buy zone!!GBPJPY (4H) has formed a strong bullish engulfer with a liquidity grab from the monthly support zone. At the same time, there is an inverted head & shoulder have formed on the 4H timeframe. This market is long-term bullish and there is a high probability that GBPJPy continues to rise from this zone to continue it's long-term uptrend.
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DeGRAM | GBPJPY bearish opportunityGBPJPY is consolidating after a sell off.
The market created a box. Price action usually pauses before breaking out and going further down.
We expect test support levels.
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