Gbpjpyidea
GBPJPY top-down analysis Hello 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 analysis Hello 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 LONG TRADE UPDATES Exactly as I explained we got another rejection from the buy zone so hopefully some of you guys got entry's, from there we have now seen price push higher breaking the last lower high to confirm we should see a further push to the upside.. id expect to see a bit of a resistance at 151.500 from there hopefully we can get a pull back for another buy opportunity
GBPJPY Entries + Exits for FREEThe ENTRY/TP zones are your entries as well as your exits.
Everything above the current candlestick is resistance, you would treat every zone above as a sell/potential buy break.
Everything below the current candlestick is support, which you would then treat every zone below as a buy/potential sell break if it hits the pip rule.
More info on the strategy and how to play it:
How To Play The Chart Entries/Exits:
Buy at green support entry, if it breaks by -35 pips (count it out) then enter a sell and ride to TP1, 2 and 3. Trail stop at each TP which means place your stop loss in profit but with enough room to be able to continue the sell if it continues. Same thing at resistance, sell but if broken by 35 pips then enter the buy and ride to TP1. Each TP is a support or resistance zone , so you could then even take a sell after TP1 for the buys have been hit and if it breaks out then just repeat.
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GbpJpy is in strong support zoneSince 158 recent top, GbpJpy fell like a stone around 1k pips in a very short period of time.
At this moment the pair is trading exactly in support, a zone that acted as resistance in 2018 and 2019.
I expect a correction from this zone and 152.50 could be the buyer's target.
A clear drop under support would negate my outlook and could lead to continuation to the downside
If you decide to trade this pair you should be careful with SL
GBP/JPYThe British pound fell a bit last week as we have seen a major “risk off” attitude approach the markets. All of that being said, the market is very sensitive to risk appetite as the Japanese yen is considered to be a major safety currency, while the British pound will gain against it in times of “risk on.” At this point, it looks like there are serious cracks in the marketplace, and a move below the ¥149 level on a daily close could send this pair down to the ¥145 level rather quickly. Regardless, even if we rally from here, the market would have a lot of proving to do in order to become bullish.
GbpJpy can rebound to 152.50 resistanceIn the past 6 weeks, GbpJpy fell hard, from a top around 158 to a low just under 150.
At this moment the pair is trading in a strong support zone and a rebound is probable
Buy dips under 150 can be a good strategy for a rise to 152.50 resistance and a risk:reward ratio of 1:3