GBPJPY this week from 05/09/2022 to 09/09/2022GJ moving in respect to 2 trendlines while getting shrink in between creating a symmetrical pattern. And also price facing major support at 160.858 & resistance at 162.672. if the support is broken which seems very likely now, then price might continue to push down to the next major support at 159.998 or go even further down.
And if price respects the support & breaks out of the resistance at 162.649, it could push upto 163.666 or ever further up if breaks out of it.
Gbpjpysignal
GBPJPY - FUNDAMENTALS WITH SECHNICAL BIAS#GBPJPY
- According to the GBPJPY analysis we gave the previous day, the GBPJPY DOWN SIDE WAVE has reached 60 ++ PIPS. MARKETS have moved DOWN SIDE from the same mine we have provided.
- JPY has weakened slightly as VIX is slightly down. Due to this, STOCKS and XXXJPY CURRENCY were slightly BUY. GBPJPY also became BUY because of that. But now there is a RISK ON BIAS. So GJ can still be BUY.
- Currently, GBPJPY can move up to the LEVEL of 163.428. Also, if GBPJPY STRUCTURE BRAKE, it can move up to 159.500 LEVEL. Therefore, attention should be paid to MARKET UPDATES and MARKET SENTIMENT. gbpjpy
GBPJPY 01/09/2022GJ is moving in respect with the downtrendline while facing recent resistance at 161.971 & major support at 161.042.
Now if gj makes a breakout of the support & previous low at 160.827 then it might push all the way down to retest the major key zone at 159.998 by forming another recent downtrendline.
GBPJPY 31/08/2022GJ if breaks out of the current resistance at 161.967 then it might continue pushing up to 162.672 or create new higher high if even breaks out of 162.660.
Similarly if gj makes a break & close below the major support at 161.170 then we can look for trades on short side anticipating gj to continue pushing down to retest 160.106 key zone.
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.
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.
GBPJPY possible buy zone!!GBPJPY (4H) has formed a strong bullish engulfer with a liquidity grab from the monthly support zone. At the same time, there is an inverted head & shoulder have formed on the 4H timeframe. This market is long-term bullish and there is a high probability that GBPJPy continues to rise from this zone to continue it's long-term uptrend.
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DeGRAM | GBPJPY bearish opportunityGBPJPY is pulling back to the resistance zone after a sell off.
Price action is moving in a descending channel and it's likely to test the resistance level.
Again look left structure leaves clues.
We expect test resistance level and higher border of the channel which acts as trendline.
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DeGRAM | GBPJPY bearish opportunityGBPJPY is consolidating after a sell off.
The market created a box. Price action usually pauses before breaking out and going further down.
We expect test support levels.
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GBPJPY is about to fly to 172.500 '' long term'' we have previously shared our analysis for pound yen where we expected a drop from 164.200.
we are closing our sell positions now with 400+ pips and placing buys from 159.670
SL & TP are shown on the chart. please use proper risk management and remember it's a long-term trade that could take up to 1-2 months.