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Gbpyjpybuy

GBPJPY BUY Potential return of between 7.8 % to 15.6 % GBPJPY is in a very strong uptrend when we look at the monthly time frame and the weekly time frame. We have seen some sort of bearish correction in the previous two months (July and August) which is a good signal to find an entry to the upside. The daily time frame also just trend bullish , this can be seen from the breakout of the symmetrical triangle/or trendline. We can also see that there has been a change in market structure on the daily timeframe which is shown by the breakout of the key level as show on the chart. With all these factors being taken into consideration, the result is a trade which currently stands at a risk reward of about 1 to 8. Potential return of between 7.8 to 15.6 % if you risk between 1 to 2 % of your account on each trade. Targets are set using the Fibonacci tool. The monthly timeframe trend is in line with the weekly timeframe , which is in line with the daily timeframe creating a high probability trade.
Long
by NDOBObanks
Holding Critical Sell Resistance 133.20 (Could Break or Return)GBP/JPY tested the key-resistance at 133.19 but failed to break above in the first attempt, but after a minor correction, a second and more successful attempt should be seen. A break above key-resistance at 133.19 will shift the currently alternate count to the preferred count and this outcome looks possible towards Major Resistance 135.10 In the short-term, support is seen at 131.97 and ideally, this support will be able to protect the downside for the next attack on key-resistance at 133.19. A break above here will call for a continuation higher to 135.38 on the way back to 140.95. If price come back to support 131.50 level possible break downside more towards 125.60 medium to long term. R3: 133.59 R2: 133.19 R1: 132.40 Pivot: 131.97 S1: 131.56 S2: 131.20 S3: 130.65 Please like, share, comments and follow me to get daily base analysis Thank you for your support, I appreciate it.
by Allmypips