Gbpjpyview
GBPJPY - Look for Continuation Long (SWING) 1:4!GBPJPY isn’t showing any signs of reversal yet, especially following the election of Japan’s new PM and the recent BOE decision to maintain interest rates. Technically, the price appears to be forming a symmetrical triangle, suggesting a potential breakout from the resistance trendline. If confirmed, this could propel the price to the next Supply Zone on the higher timeframe.
Disclaimer:
This is simply my personal technical analysis, and you're free to consider it as a reference or disregard it. No obligation! Emphasizing the importance of proper risk management—it can make a significant difference. Wishing you a successful and happy trading experience!
GBPJPY - Look for Continuation Short (SWING) 1:4!Price has consolidated and rejected the SBR Zone on the HTF, while also bouncing off the Weekly Support Level, showing potential to make a new high on the LTF. Before continuing upward, it needs to respect the DBD Supply Zone. The upward move is likely if the SBR is broken.
Let's see how the market reacts to this zone.
Disclaimer:
This is simply my personal technical analysis, and you're free to consider it as a reference or disregard it. No obligation! Emphasizing the importance of proper risk management—it can make a significant difference. Wishing you a successful and happy trading experience!
GBPJPY Setting up for a ShortThis pair has been on my watchlist for the past few days and seeing it has broken through the most recent support level 182.015, I would love to see a retest of same level and then a rejection before I take the position.
Here was what I posted some few days back
Disclaimer:
All trade ideas are given for educational purposes and should not be treated as an investment advice, hence do your due diligence. Past results does not guarantee future results
GBPJPY - FUNDAMENTALS WITH SECHNICAL BIAS#GBPJPY
- According to the GBPJPY analysis we gave the previous day, the GBPJPY SELL SIDE WAVE was moving very well in the previous days. The reason for that was, FUNDAMENTALLY JPY STRONG, GBP WEAK. And because the MARKET SENTIMENT is STRONG. XXXJPY has been selling very fast since last week.
- JPY has become somewhat WEAK because 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. Therefore, GJ can be BUY in the future.
- Currently GBPJPY LONG TERM can move up to the LEVEL 173.00. Also, according to the GBPJPY STRUCTURE, before BUY, you can move down to the SUPPORT LEVEL of 165.928 to the SUPPORT LEVEL.
Therefore, attention should be paid to MARKET UPDATES and MARKET SENTIMENT. A BOJ INTERVENTION MAY NOT HAPPEN AGAIN. Currently the MARKET is RISK ON. Therefore, XXXJPY should be BUY. Therefore, pay attention to the CURRENT MARKET SENTIMENT.
GBPJPY - FUNDAMENTALS WITH SECHNICAL BIAS#GBPJPY
- According to the GBPJPY analysis we gave the previous day, the GBPJPY UP SIDE WAVE was moving very well in the previous days. The reason for that was, FUNDAMENTALLY JPY WRAK, GBP STRONG and BOE made an INTERVENTION. And because the MARKET SENTIMENT is STRONG. XXXJPY has been BUYing very fast since last week.
- JPY has become somewhat WEAK because 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 LONG TERM can move up to the LEVEL 179.579. Also, according to the GBPJPY STRUCTURE, it can move down to the 159.065 LEVEL to the SUPPORT LEVEL. Therefore, attention should be paid to MARKET UPDATES and MARKET SENTIMENT. A BOJ INTERVENTION MAY NOT HAPPEN AGAIN. But the MARKET should be RISK OFF again if XXXJPY SELL. Therefore, pay attention to the CURRENT MARKET SENTIMENT. gbpjpy
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 Will Keep Falling !!GBP-JPY went down after the breakout Previous horizontal support at 159.970
A head and shoulders pattern has been formed Now we are seeing a bullish rebound
Aiming to retest the broken level and Falling resistance After that I believe we will see
Bearish continuation to the target below
GBPJPY AnalysisLooking at the weekly timeframe, GJ has been in a flag correction since the beginning of May, following a very strong impulse from mid March this year. Price has given us 3 touches on our resistance trendline confirm that price is respecting it. price has since fallen off this 3rd touch (as seen on the chart above). We were in a correction phase until price broke out with great momentum (represented by the length of the candles on H1) but was also quick to reverse back into the correction pattern. However, on the H4, its not really final as to what price wants to do. Im waiting for either a daily candle close or H4 close to support my bias. Overall I am anticipating a fall in GJ.
*Disclaimer*
This is not financial advice. Forex trading is a risky business. Trade at your own risk. Patience and risk management are crucial.
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