Short term sell in GBPJPYShort term sell opportunity in GBPJPY within the corrective structure. Please trade with care.
Gbpjpysell
GBPJPY Short at 149
Our preference: short position below 150.30 with targets at 149.40 & 149.00 in extension.
Alternative scenario: in excess of 150.30, aim for a continuation of the rise with 150.65 & 151.00 in the line of fire.
Comment: the RSI has just hit a bullish right.
Sell GBPJPY Longterm Based on Rising Wedge + H&S PatternThis research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits.
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Sell GBPJPY Longterm Based on H&S Chart Pattern on H4 TFThis research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits.
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GBPJPY Medium TermGBPJPY price action contained in a multi-month bullish channel and broke out 2017 highs,I am short GBPJPY at 150.92- i am looking for a bigger swing to play with a target in view 147.63 (38.2% fibonacci retracement/my 1mo moving number) & a prior support turned resistance area. My stop is currently break even now.
GBPJPY Long Term BULLOn the weekly time frame GBPJPY finally managed to break out from its long time resistance. You can see that in the past years it bounced back 3 times but this week it has finally broken it. This means 160+ is next for GBPJPY.
Keep in mind that this is the weekly time frame providing a long term view. There will be plenty of retracements and small corrections to sell.
Called bears on this at WhatsAppAfter seeing the price rejection on GBPJPY, I immediately called bears to occur on this. Sadly before descending, my trade was taken out. Another rationale for entering a short position here was the descending behavior that can be seen on daily at 2017.05.11 to 2017.06.12 in which it shows where temporary correction is to occur before more downside pressure. Beware of the ascending trend line.
GBPJPY SWING IT LIKE TIGER WOODS!So GBPJPY is already giving you a good signal for short, why dont we try and follow the trend ;)
Trade it like you own the market
Casual 2000 pips boysTechnically: rising wedge (bearish)
Fundamentally:
JPY short positioning overextended
JPY safe haven in the event of equity downturn
GBP strength keeps inflation low - BoE will not hike
Brexit uncertainty remains
GBP positioning not overextended - room for shorts to build
Sentiment
Speculative market sentiment is very bearish yen; underestimating possibility of yen strength in case of events like August 2015
Sentiment is neutral/bullish GBP
Trade structure
Short at spot.
Add to position when wedge is broken.
Add to position every 100-200 pips of downside, trail stop to profit
Scale out at 130-125 yen
GBPJPYOur preference: lighten as long as 1.4707 is stopper with 1.4491 as objective.
Alternative scenario: the overflow of 1.4707, will validate an increase over 1.4785 and 1.4832.
Comment: The RSI is below its neutral zone of 50. The MACD is positive and below its signal line.
GBPJPY Bull Party Has Only Just StartedGBPJPY is a perfect example of why you should also look at te higher time frames. If you would only look at the 30m, 1h, 4h, or even the daily you would quickly judge the GBPJPY has gone up a lot already and that it would be very logical to go back down again. How ever when you take a look and the weekly and monthly you see that price is still rather low and it actually just started its way back up.
This is also what we see here on the weekly time fame for GBPJPY. A long term upper range has been broken and its touching the same resistance now for the 3rd time. Which means chances of it breaking this time have only gone up.
So long term GBPJPY would be a beautifull buy position to hold on to and add more buys a long the way up!!!
GBPUSDOur preference: sales position below 147.60 with targets at 146.60 & 146.00 in extension.
Alternative scenario: in excess of 147.60, aim for a continuation of the rise with 148,10 & 148,50 in line of sight.
Comment: The RSI is misdirected.
Short GBPJPY Longterm Based on Daily + Weekly Charts. 500+ PipsWe went long on GBPJPY from 140 to 147 and now we have the opportunity to short this pair back down to the trend line. We can see the price has re-tested the 147 resistance line again, making it the third test in 8 months, which meets the requirements of a possible triple top. In order for this to become a valid triple top, we need to wait for price to break below the support level.
I will be monitoring this pair on multiple time frames.
This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits.
Please comment below and Like if you agree with my analysis.
