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Gbpjpyidea

GJ going up?Looking at GBP/JPY ANALYSIS from the 1D timeframe, there has been a downtrend in price, which started last week, the decline started at the levels of 153.275 and now it has reached a support level at 151.295, By this, I can see a potential for a reversal back to the resistance levels at 153.275 here is a list of things I looked at before taking my direction : Overrral trend of GJ is an uptrend graph The decline of price was more of a pullback The RSI on the timeframe from 4H - 1H is signaling an oversold graph, which means We are looking out for potential reversal signals The graph has reached the support levels The channel is uptrending
Long
by UnknownUnicorn3740956
GBPJPY FINALLY REJECTS RESISTANCE!!!After the sweet profitable uptrend on this pair, we saw price get to a resistance level and stall. This is a 4-hour and daily resistance. After the stall came consolidation for a while, but now we see price leaving the area with bearish pressure. We're joining the start of a possible downtrend now and will be looking for trade opportunities as the current level has been violated. We'll wait for a pullback into the level before taking sells.
Short
by Men_of_The_Markets
GBPJPY AnalysisLooking at the weekly timeframe, GJ has been in a flag correction since the beginning of May, following a very strong impulse from mid March this year. Price has given us 3 touches on our resistance trendline confirm that price is respecting it. price has since fallen off this 3rd touch (as seen on the chart above). We were in a correction phase until price broke out with great momentum (represented by the length of the candles on H1) but was also quick to reverse back into the correction pattern. However, on the H4, its not really final as to what price wants to do. Im waiting for either a daily candle close or H4 close to support my bias. Overall I am anticipating a fall in GJ. *Disclaimer* This is not financial advice. Forex trading is a risky business. Trade at your own risk. Patience and risk management are crucial. #Trade_Like_A_Magnate
Short
by Magnatrio
Long GBPJPY Long GBPJPY - Swing trade idea. I have bought GBPJPY at 151.35 as I feel this move lower is now exhausted. No interest in getting too carried away during this risk off mood, however I feel the run has gone a long way and if we had to see the dollar start to fall, that would cause GBPUSD to rally pulling up GBPJPY along with it. On the other hand, if the USD stays bid, this will cause USDJPY buying thus putting pressure on JPY strength and hopefully cause USDJPY to make a decent retracement higher again taking GBPJPY along for the ride. Long GBPJPY - 151.35 TP - 156.00 SL - 150.70
Long
by WhosPipsAreTheseAnyway