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GBPJPY Technical Analysis 28.07.2023 1h chart– Previous Daily candle closed Strong Bearish at 178.370 breaking below Daily Support formed on 13th July 2023. – Buys on close above 179.000 targeting Daily previous Support formed on 13th July 2023 at 179.690 for a retest, Leaving Runners to the Daily previous Support formed on Friday 1st July 2023 at 180.150. – Sells on close below 177.780 targeting 1h Support formed on 15th June 2023 at 177.290, Leaving Runners to the 1h Support formed on 14th June 2023 at 176.750. – High Impact News ahead for the Japanese Yen over the Asian session as Bank Of Japan decide on future Interest Rate, Starting with BOJ Outlook Report, Monetary Policy Statement and BOJ Policy Rate, followed by BOJ Press Conference, High Volatility expected during the event.
by SalimFX20
GBPJPY Technical Analysis 27.07.2023 1h chart– Previous Daily candle closed Bearish at 181.410 within the recent Daily Range forming a minor Resistance at 181.730. – Buys on close above 181.860 targeting 4h Resistance at 182.280, Leaving Runners to the 1h Resistance at 182.540. – Sells on close below 181.030 targeting 4h previous Resistance formed on 20th July 2023 at 180.570, Leaving Runners to the Daily Support formed on Friday 21st July 2023 at 180.150. – Daily and 4h has been consolidating this week as the current Weekly candle respecting the previous Weekly High.
by SalimFX20
GBPJPY Technical Analysis 26.07.2023 1h chart– Previous Daily candle closed small Bullish at 181.730 forming Daily Support at 181.370 – Buys on close above 181.930 targeting 4h Resistance at 182.280, Leaving Runners to the 1h Resistance formed at 182.540. – Sells on close below 181.590 targeting 4h Support at 181.250, Leaving Runners to the next 4h Support at 180.950. – Ideally is to wait for price to break out of the zone during High Volume session like Pre London / London Open leading to NY session.
by SalimFX20
GBPJPY Technical Analysis 25.07.2023 1h chart– Previous Daily candle closed Bearish at 181.370 forming Daily Resistance at 182.220. – Buys on close above 181.450 targeting 1h previous Support formed at 181.860, Leaving Runners to the Daily Resistance formed at 182.220. – Sells on close below 180.900 targeting 1h Support at 180.470, Leaving Runners to the Daily Support formed on Friday last week at 180.140. – As Daily formed Resistance and retraced, there is still a good probability for price to retest Daily Support formed on Friday last week.
by SalimFX20
GBPJPY Technical Analysis 24.07.2023 1h chart– Previous Weekly candle closed Bullish at 182.210 forming Weekly Support at 181.670, Friday Daily candle closed strong Bullish forming new Daily Support around 180.150. – Buys on close above 182.550 targeting Weekly Resistance formed at 183.150, Leaving Runners to the 1h Resistance formed at 183.550. – Sells on close below 181.800 targeting 4h Support formed at 181.370, Leaving Runners to the 1h previous Resistance formed on 19th July 2023 at 181.030. – High Impact News ahead for the Pound Sterling during the London session for Flash Manufacturing PMI and Flash Services PMI.
by SalimFX20
GBPJPY Technical Analysis 21.07.2023 1h chart– Previous Daily candle closed Bearish at 180.150 closing above Daily Support formed on Thursday 13th July 2023. – Buys on close above 180.720 targeting 30min Resistance at 181.180, Leaving Runners to the Daily Resistance formed on 17th July 2023 at 181.670. – Sells on close below 179.850 targeting 1h Support at 179.480, Leaving Runners to the 4h Support formed at 179.130. – Overall price still in a large consolidation zone so waiting for a confirmation is really important, would be good to see small Daily Support to be formed on Friday to then have the next Daily candle for next week to break below recent Support correcting the Bullish move on the Weekly candle formed on 12th June 2023.
by SalimFX20
GBPJPY Technical Analysis 20.07.2023 1h chart– Previous Daily candle closed Bearish at 180.570 tapping into Daily Support formed on 13th July 2023 around 179.800. – Buys on close above 181.040 targeting 1h Resistance at 181.560, Leaving Runners to the 4h Resistance formed at 182.020. – Sells on close below 180.230 targeting Daily Support formed at 179.800, Leaving Runners to the 1h Support formed at 179.500. – We could possibly have a Wick Fill of the previous Weekly candle Low. Once Daily close below recent Daily Support we have clean traffic all the way down to 175.500 based on the Weekly and Daily timeframe.
by SalimFX20
GBPJPY Technical Analysis 19.07.2023 1h chart– Previous Daily candle closed weak Bearish at 180.900 as price still ranging within the 4h timeframe. – Buys on close above 181.630 targeting 4h Resistance at 182.030, Leaving Runners to the 4h previous Support formed on 9th July 2023 at 182.390. – Sells on close below 180.750 targeting Tuesday Daily Wick Fill at 180.360, Leaving Runners to the Daily Support formed at 179.800. – High Impact News ahead of the Pound Sterling before London open for CPI y/y forecasting : 8.2% / Previously was 8.7%.
by SalimFX20
GBPJPY Technical Analysis 18.07.2023 1h chart– Previous Daily candle closed Bearish at 181.260 forming Daily Resistance at 181.670. – Buys on close above 181.630 targeting 4h Resistance at 182.030, Leaving Runners to the 4h previous Support formed on 9th July 2023 at 182.390. – Sells on close below 181.110 targeting 4h Support at 180.640, Leaving Runners to the 15min Support formed at 180.310. – Overall price has formed another 4h consolidation zone on Monday’s trading session which is the current No Trade Zone identified on this analysis, Ideally is to wait for price to breakout of this zone during high volume time.
by SalimFX20
GBPJPY Technical Analysis 17.07.2023 1h chart– Previous Weekly candle closed weak Bearish at 181.660 respecting the recent Weekly Resistance formed at 183.170, Friday Daily candle closed Bullish respecting Thursday Daily Support formed at 179.810. – Buys on close above 182.140 targeting previous Daily Support formed on 30th June 2023 at 182.500, Leaving Runners to the 4h Resistance formed at 183.170. – Sells on close below 181.380 targeting 30min Support formed at 180.730, Leaving Runners to the next 30min Support formed at 180.460. – Ideally is to allow the Asian session to form a new range on the lower timeframe and have a strong confirmation around Pre London / London open leading to New York session.
by SalimFX20
GBPJPY Technical Analysis 14.07.2023 1h chart– Previous Daily candle closed Bullish at 181.340 forming Daily Support at 179.800. – Buys on close above 181.450 targeting 1h Resistance at 181.760, Leaving Runners to the Daily previous Support formed on 30th June 2023 at 182.260. – Sells on close below 180.800 targeting 30min Support formed at 180.440, Leaving Runners to the 1h Support formed at 180.020. – As the Daily formed Support on Thursday closing above the Daily previous Support formed 21st June 2023, There is a good probability of the Friday Daily candle respecting recent Daily Support and closing Bullish.
by SalimFX20
GBPJPY Technical Analysis 13.07.2023 1h chart– Previous Daily candle closed Bearish at 179.800 closing below Daily Support formed on 21st June 2023. – Buys on close above 179.970 targeting 1h Resistance at 180.350, Leaving Runners to the 30min Resistance formed at 180.700. – Sells on close below 179.470 targeting 4h Support formed at 179.120, Leaving Runners to the 1h Support formed at 178.840. – High Impact News ahead for the Pre London session, GDP m/m data forecast -0.3% Previously was 0.2%, High Volatility expected during the London open.
by SalimFX20
GBPJPY Technical Analysis 12.07.2023 1h chart– Previous Daily candle closed Bearish at 181.450 rejecting the previous Hourly Support formed on 22nd June 2023. – Buys on close above 181.900 targeting Daily previous Support formed on 27th June 2023 at 182.330, Leaving Runners to the 15min Resistance formed at 182.590. – Sells on close below 181.100 targeting 1h Support/ Daily Wick Fill at 180.800, Leaving Runners to the Daily Support formed on 21st June 2023 at 180.480. – Bank Of England Governor Andrew Bailey due to hold press conference about the Financial Stability Report in London.
by SalimFX20
GBPJPY Technical Analysis 11.07.2023 1h chart– Previous Daily candle closed Bearish at 181.720 breaking out of the Daily consolidation Zone. – Buys on close above 181.870 targeting 1h previous Support formed at 182.300, Leaving Runners to the 15min Resistance formed at 182.580. – Sells on close below 181.190 targeting 1h Support formed at 180.830, Leaving Runners to the Daily Support formed at 180.480. – High Impact News ahead of the Pre London session, Claimant Count Change and Average Earnings Index 3m/y, High Volatility expected within the London open.
by SalimFX20
GbpJpy -> Short Squeeze Over?Hello Traders and Investors , my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of GbpJpy 💪 After GbpJpy broke out of a major long term monthly triangle formation all the way back in 2021 there has been a major rally of roughly 4000 pips towards the upside on GbpJpy. However by looking at the weekly timeframe you can see that GbpJpy is a little bit overextended at the moment so I do expect a retracement at least back to the 0.236 or 0.382 fibonacci retracement level. And it seems like with today's candle GbpJpy is breaking daily structure towards the downside so I am first waiting for another bearish push and if we then get a retest of the previous structure zone and some bearish confirmation I then do expect another daily bearish drop to retest the weekly fibonacci levels. Keep in mind: Don't get caught up in short term moves and always look at the long term picture; building wealth is a marathon and not a quick sprint 📈 Thank you for watching and I will see you tomorrow! My previous analysis of this asset:
Short
by basictradingtv
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GBPJPY Technical Analysis 10.07.2023 1h chart– Previous Weekly candle closed Bearish at 182.380 forming Weekly Resistance at 182.930, Friday Daily candle closed Bearish within the Daily Support Range on the Daily timeframe. – Buys on close above 182.650 targeting 4h Resistance formed at 183.090, Leaving Runners to the 30min Resistance formed at 183.450. – Sells on close below 182.020 targeting 4h Support formed at 181.610, Leaving Runners to the next 4h Support formed at 181.330. – Bank Of England Governor Andrew Bailey due to speak at the Financial and Professional Services Dinner in London at Pre London Close.
by SalimFX20
GBPJPY Technical Analysis 07.07.2023 1h chart– Previous Daily candle closed Bearish at 183.480 forming Daily Resistance at 183.730 as price still ranging within the Daily timeframe. – Buys on close above 183.850 targeting Daily previous Support formed on 3rd December 2015 at 184.250, Leaving Runners to the Weekly previous Support formed on 30th November 2015 at 184.610. – Sells on close below 183.030 targeting 1h Support formed at 182.650, Leaving Runners to the 1h Strong Support formed at 182.390. – Overall price is still consolidating within the Daily and 4h Range, Ideally is to wait for a strong confirmation before taking any positions.
by SalimFX20