GBPJPY Buy Signal With Price ActionCheck out the technical analysis-based trade plan for the GBPJPY today.
On the 4h to D1 period, the GBPJPY has produced a trend breakthrough, and we are now getting near to major support. We must therefore determine whether the prices for the GBPJPY pair will break through the support or rebound back to the recently formed highs.
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Gbpjpyprediction
GBPJPY 7/10/2022Price currently facing resistance at 162.305 & support at 161.251 while ranging in between a structure. now if price closes above the resistance of the structure then price might continue to push up to the next zone at 163.325 or all the way to 164.344.
Similarly if price closes below the structure then it might continue to push down to the next support zone at 159.493.
GBPJPY 6/10/2022Price formed a recent support at 163.396 & resistance at 164.380. now if price closes below the support then we can expect price continue pushing down to the next support zone at 161.935 as a retracement move to a newly forming uptrendline.
However if price closes above the resistance, then we can expect price to continue pushing to the previous high at 165.532.
GBPJPY 5/10/2022Price just made a breakout of the previous low at 164.271 by forming double tops at 165.543 facing resistance. now price is heading to the next support zone at 163.410. We'll look for further trades to the short side if price even closes below the next support zone to continue moving to the next zone at 161.962.
GBPJPY 5/10/2022Price retesting a major key zone on HTF at 165.072 & also created a higher low & recent support at 164.297 while moving in a strong uptrendline. now if price respects the new higher low & closes above the high at 165.722, then price might continue its bullish run to the next HTF key level at 167.803.
** A breakout of the recent support at 164.297 however would invalidate the buy opportunity.
GBPJPY 4/10/2022Price currently facing rejection after retesting a major key zone on HTF at 165.072 & also facing very recent support at 163.414 while moving in a short tf uptrendline. now if price closes below the recent support then it would be breaking out of the recent uptrendline & price might continue to push down to the next support zone at 161.951 or al the way down to 160.472 as a retracement move on HTF.
However if price does respects the recent support & closes above the high at 165.072, then price might continue its bullish run to the next HTF key level at 167.803.
GJ shortMonthly; bullish trend
Weekly ; there is a candle that filled the previous candle’s wick so I was expecting price to get rejected from the monthly S/R zone and reverse, currently is stuck in a consolidation
On the daily there was a rejection forming a shooting start candle indicating a reversal may happen, price also broke previous swing.
On the 4h; there is a spinning top candle followed with a bearish engulfing
My confluences for a trade;
4h
Breaking previous HL
Below emas
A heavy bearish momentum breaking the S/R zone
The monthly/weekly long wick candles indicating loss of bullish momentum and a high probability of price reversing.
GBPJPY 27/09/2022Price formed a demand zone in between 154.783 to 153.946 & have a HTF resistance key level at 157.972. so price might come down for some pullback to the demand zone or find support at recent low at 155.256 & then continue to push upto the next HTF key level at 157.972.
However a breakout of the demand zone with bearish move would invalidate the possible long opportunity.
GBPJPY BUY Potential return of between 7.8 % to 15.6 % GBPJPY is in a very strong uptrend when we look at the monthly time frame and the weekly time frame. We have seen some sort of bearish correction in the previous two months (July and August)
which is a good signal to find an entry to the upside. The daily time frame also just trend bullish , this can be seen from the breakout of the symmetrical triangle/or trendline. We can also see that there
has been a change in market structure on the daily timeframe which is shown by the breakout of the key level as show on the chart. With all these factors being taken into consideration, the result is a
trade which currently stands at a risk reward of about 1 to 8. Potential return of between 7.8 to 15.6 % if you risk between 1 to 2 % of your account on each trade. Targets are set using the Fibonacci tool.
The monthly timeframe trend is in line with the weekly timeframe , which is in line with the daily timeframe creating a high probability trade.
GBPJPY Analysis : Resume uptrend?Hello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. 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 21/09/2022Price currently facing resistance at 163.461 & support at 163.114. Now if price closes below the support, then price could continue pushing down to the previous HTF support at 162.705 to make some correction. However if price respects the support & closes above the resistance, then price might continue pushing up to the next resistance at 163.880 retesting the previous high and a retest to HTF downtrendline.
GBPJPY 20/09/2022Price currently formed resistance at 164.426 support at 163.907. so if price closes below the support, then price could continue pushing down to the next support at 163.464. However if price respects the support & closes above the resistance, then price might continue pushing up to the next resistance at 164.927 creating new higher high.
GBPJPY top-down analysisHello traders, this is complete multiple timeframe analysis of this pair. We see could find significant trading opportunity as per analysis upon price action confirmation we may take this trade. 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 19/09/2022Price retesting a key level at 162.687 which is acting as recent support for gj also price has another key level at 163.563 which could act as its resistance since that key level has multiple retests from HTF. Now if price doesn't make a breakout of the resistance & makes a breakout of the recent support then price could come down to the next possible support at 161.901 or all the way to 161.152. However if price respects the support & breaks out of the resistance then it could push up to the next zone at 164.098 or 164.737.
GJ at an important level!I've been watching this level for some time now. We've been consolidating for some time now but I feel like this coming week is the week for the downtrend to start. We should get price flowing downwards now targeting the relative equal lows. Feel free to follow me and reach out!
GBPJPY 16/09/2022Price retesting a key level at 162.687 which is acting as recent support for gj also price has another key level at 163.563 which could act as its resistance since that key level has multiple retests from HTF. Now if price doesn't make a breakout of the resistance & makes a breakout of the recent support then price could come down to the next possible support at 161.901 or all the way to 161.152. However if price respects the support & breaks out of the resistance then it could push up to the next zone at 164.098.
GBPJPY top-down analysisHello 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.
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GBPJPY 14/09/2022Price retesting a recent support at 164.867 while having a possible resistance at 165.513 moving in respect to a recent downtrendline in 30 min tf. Now if price respects the possible resistance & makes a breakout of the recent support then it could continue to come down to the next support at 164.290 or all the way to 163.615.
However if price breaks out of the possible resistance breaking the downtrend, then it could push all the way to to previous resistance at 165.963.
GBPJPY 13/09/2022Price currently ranging in between a small structure after a breakout of the major resistance at 166.317. now if price makes a breakout of its recent high in that structure then it could continue to push up to the next HTF resistance at 167.928.
And if price makes a breakout of the support in that structure at 166.317 then it can continue to come down as a retracement to retest 165.584.