Gbpjpyidea
SELL TRADE ON GBPJPY THIS WEEK!!!! Currently seeing a switch in market flow and some exhaustion on the daily timeframe.
M15 is showing signs of transition with a break in the last HL and minor supply areas are being created. These areas are gonna be my key entry areas this week. lets see go it goes.
GBP/JPY has reached resistanceThis is at resistance, its time to keep an eye on the next move it makes. If it can break resistance then wait for it retrace and test this area as the new support before entering a long trade. The next resistance level is marked in green, this can be the take profit target. If it does not break the current resistance then expect a fall to support around 137.6 to 137
GBPJPY under Pressure of Resistances (Ready for Bearish)Here in Gbpjpy, i've mentioned the level @141 as selling point for 200+ pips for today if it fall otherwise the above area i've taken the familiar trend line & from 142 approx considering the proper sell area in which fake design will occur (this is in case if today it isn't fall down). All other supports & resistances are mentioned there. Best of luck with GJ.
I HOPE THIS ANALYSIS GIVES YOU THE BETTER IDEA TO DO BEST.
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P. S. I personally open a Trade when i find entry point according to my strategy, Always make your analysis before a trade.
The Single Best Trade for 2021... and beyond.
This trade naturally stands the reason. It is the worst G10 currency prospects versus what's still the most stable("best") G10 out there.
While Japan continues to maintain a healthy Account Surplus (for several decades by now) the UK decided to inflate the BoE's balance sheet to the tune of 120% of GDP, in just a few short months.
This fact alone justifies a complete re-pricing of this cross, without the need to speculate on the impending doom of the UK, a debt-ridden, rapidly aging, outpost (and Not just because of Brexit - which is a day late and a dollar short!) that is currently dying in the pandemic (economically and in the literal sense) faster than any other country in the developed world.
E.g. a total and rapid repricing of this pair is inevitable. (... and as we all know that, this pair can do that faster/better than any other pair in the majors!)
Here is the Monthly outlook
- And for those who wondered "what the 2nd best trade could be"...;
GBPJPY 4HRThe bullish break of structure occurred around the 137.90 handle. It's currently retesting the 137.90 handle where it's safe to place a short sell to minimum 136.385 handle. It should complete the D leg structure of Harmonics at that level and from there it should wise to place a buy, however in order for the bulls to get a stronghold it should break 139.813 handle.