GBP/JPY has been in a downtrend for a long time. Technically, things have changed a little bit. First of all, look at the candles that closed above the 26 EMA. A candle or two just closed above EMA 26 does not mean that the pair is ready to buy. I have consulted it with other trend indicators as well. It seems to me that the pair can pull back in upward direction....
ON THE WEEKLY CHART PRICE HAS TESTED THE 130.008 PRICE LEVEL (PURPLE), TWICE. PLACE A BUY JUST BEFORE 130.000 LEVEL WITH A STOP LOSS JUST BELOW THAT. NO PROFIT TARGET. LET YOUR WINNERS RUN.
GBPJPY LONG EXPECTED - TARGET 146.XXX
It a long term Trade with high Reward 1:3.5 Risk Reward let's see
The Pound has exploded higher on Friday and in my experience after such strong movements comes a decent pullback. I am bullish on the GBP as we are now trading well above the most important moving averages, aswell as having convincingly broken through the Daily 21 EMA. I am expecting a retest of the D21 and previous structure found at the 133.200 level before...
Sell the rally, but where to sell? The big blue 504 period EMA represents the Daily 21 EMA on this hourly chart, and as you can see we had 2 nice bounces off of it. I have marked up the 618 fib of the double top so if you were a bear you could short from 132.937 as a 2618 trade with an initial target of 132.477 or roughly 45 pips. The rest is up to your trade...
It a long term Trade with high Reward 1:3.5 Risk Reward let's see
I think we see nice retest, buy more lots SL 129.84 (see related ideas)
GBPJPY Hard buy breakout expected for long! Dont miss that! As always, Buy GREEN Sell RED breakout!
GBPJPY Buy Green/Sell Red Breakout - Simple and Easy
GBPJPY Two ways, Two breakouts to watch. Buy blue line, Sell Purple...
The price finding support area at 139.50. Bullish as long as support area remains intact. As intraday trading strategy. we must get bullish signal confirmed by trading above 140.50 with potential target at 144.30- 145.70.
GBPJPY Bearish Channel Analysis (Short Term) Learn with professional mentor every day, live session: www.IMLFX.club