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Gbpjpysell

GBPJPY - WHERE IS IT GOING NEXT?HOW MANY LINES DO YOU DRAW ON YOUR CHART TO UNDERSTAND WHERE THE MARKET IS GOING NEXT? I am not a big fan of messy charts, full of lines, channels, Fibonacci, blablabla... The list can be really extensive. For FX:GBPJPY pair, it has been rising for the last 4 months, non-stop. We can see RSI indicating it is overbought and OBV showing divergencies vs price movements. It has also reached a strong resistance trend line, coming all the way from 2016. It has also touched a strong resistance level, which has put the price down on the last days of February. On top of that, it has reached the top of a rising channel. Which I expect to hold and drop the price to support levels. My take is that price will revisit this strong resistance level and continue its way down... Nevertheless, it needs a correction from the 4-month rise. I expect next week to form a strong red candle. WHAT IS YOUR BIAS? Please share with me below. HOPE YOU HAVE A PROFITABLE WEEK! Let's go!
Short
by Gaspar_Trader
2
GBPJPY: The Start of a 500 Pip Rally?GJ In fact, last week closed above a key trend line near 142.50, and this week’s action is a continuation of that breakout. The monthly chart above shows a triangle/wedge pattern within a larger structure that dates back to 2007. Notice how GBPJPY is starting to break out from the smaller pattern. If the larger structure from 2007 remains intact, and I think it will, it means GBPJPY could be north of 150.00 later this year. Depending on how quickly this rally plays out, the 2007 trend line comes in between 150.00 and 155.00. That’s 600 – 1,100 pips from today’s price, so this is one to watch. However, there will be other resistance areas on the way up. One such area is 148.00. You can see from the chart below how 148.00 has been critical for years. It was even a key pivot in 2013. As long as this week’s low at 142.80 is intact, I like GBPJPY higher toward 148.00, followed by the 2017 trend line above 150.00.
Long
by EagleForexTrade
GBPJPY Short (Sell) Trade Daily SetupSimilar to GBPUSD, this pair is making it's way closer to a strong sell zone. In fact, there are two sell zones in close proximity. On lower time frames (2H + 4H) we can see price has been slowing down, accumulating buy orders and pushing up towards these key levels. From the two supply zones, the lower one is weaker and both are untested. Keep an eye on price action on lower time frames for any indications of a potential change in trend. We may not drop, we could fall into a range first, in which case, I will update with further charts.
Short
by AEFX786
1
GBPJPY-- Lets Watch Sell Entry <<Disclaimer: the content on this analysis is subject to change at any time without notice and is provided for the sole purpose of assisting traders to make independent investment decisions. this is no signal. it's my opinion. trade your own risk. and Must Follow Money management. _______________________________________________________________________________________________________________________________________________________ Thank you for your support!
Short
by Rapid-Trading-LTD