Strong opportunity on GBPJPY FX:GBPJPY reached a critical point today, big resistance at this point as it is an intersection between a downtrend and 50% fibonacci resistance ... we will go down for sure, with an entry on 142.450, a stop loss on at 143.988 (23.60% fibonacci) and a first target at 141.002, a second target at 139.512 and 3rd target at 138.591
Gbpjpysell
GBPJPY - 250 PIPS+ SHORT OPPORTUNITYDo not open any trades yet, wait for second high test. No trades have been opened yet, waiting for the confirmation.
GBPJPY has broken under the 4H 50 EMA and is failing to recover back on top of it. After a drop in prices, it recovered and did a high test (Prices pushing up in a short trend but failing to break the resistance (4H 50 EMA).
We can expect a drop and break of the 200 EMA to happen eventually. Wait for another high test (Green candle with tick only on top of body) to confirm this pair is going to drop. Once the pair makes another successful high test, we can short it and put our SL above the 4H 50 EMA.
Trade safe.
GBPJPY reached top of channel, get ready for sell near to 148.10Get ready for a GBPJPY sell as price reject top of equidistant channel.
Key resistance around 148.10.
This trade, along with other GBP trade, will be traded in Copy our Robot.
For past 2 months, Copy our Robot is up about 400 pips each month.
GBPJPY short position ideaentry price : 146.350
Take profit 1 : 145.100
Take profit 2 : 143.200
Take profit 3: 140.220
Stop loss : 147.100 (suggest to use trailing stop)
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Don't forget Asset management / and please trade at your own risk and this chart is as my opinion about GBP/JPY
THANK YOU
REGARDS
Abolfazl Abedi
GBPJPY Forming down channel after a break of the up channel
On the daily there are some interesting things happening;
What counts against the trade is the EMA50 was broken with a serious bull candle but the 0.618 Fib level is being respected.
Pro's
There is a clear up channel break and it is text book trading on the Weekly candles.
Set SL at 147.500 and there is a lot of protection; 2 Major Fib levels and the down channel that formed trend line.
With a profit to risk ratio of just over 2 this is a go......
Cons
The EMA50 (D) might hold......
Things to remember
This is a setup making use of W and D candles so it might take some time to play out; patience will be key!!!