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Gbpjpylong

GBPJPY WEEKLY UPDATE 24/2 - 3/3Hi all Weekly recaps: The price of the GBPJPY has reached the 50% fibonacci level from the previous high of 172.129 and low of 155.350 following a breakout consolidation level (please see earlier post). GBP/JPY needs to hold above 161.802 until this week's market close in order to continue its upward movement. So, I expect that price will end the breakout pullback and begin a long position with 164.xx as the target. Let me know what you think In the comments! My trading strategy is not intended to be a signal. It's a process of learning about market structure and sharpening my trading skills. Thanks a lot for your support.
Long
by mytw0cents
2
GBPJPY SHORT TERM TRADE IDEAIntraday Analysis - GBPJPY - ( 28 FEB 2023 ) Will be playing GJ continuation buys from yesterday. Fundamentally both pound and yen is extremely weak. GBP is the weakest in terms of economy this year however due to its government's hawkish stance to change monetary policies to aid in the economy, GBP has a upper hand here as compared to YEN . The Japanese government has been dovish since the start of bear markets and has no intentions to change monetary policy just yet. Looking at pullback buys on GJ HRHR BUYS AT 163.500 MRMR BUYS AT 163.800 SAFEST BUYS BREAK OF HIGHS AT 164.500 There will be no sells in play as all timeframe has point towards a bullish bias + fundaments are in play supporting our bias. We may get deeper pullbacks depending on GBP speakers later during pre NY session. However i do not expect it to hold much weight.
by CJ_GOLDPIPS
1