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GbpJpy -> Textbook TradeHello Traders, welcome to this free and educational multi-timeframe technical analysis . On the weekly timeframe you can see that GbpJpy just retested and rejected a quite obvious previous weekly resistance at the 171.000 JPY level. However you can also see that weekly market structure and moving averages are still very bullish, with last week's candle we broke multiple structure levels towards the upside and we are also currently retesting previous resistance which is now turned support so I simply do expect more continuation towards the upside from here. On the daily timeframe you can see the exact same setup, we just recently broke above a major daily resistance level at the 168.5 JPY area which is now turned quite strong support, so I am now just waiting for some more bullish confirmation inside of this zone before I then do expect another daily rally towards the upside. Thank you for watching and I will see you tomorrow! You can also check out my previous analysis of this asset:
Long
by basictradingtv
28
GBPJPY Technical Analysis 04.05.2023 1h chart– Previous Daily candle closed Bearish at 169.160 respecting Daily Resistance formed on Tuesday 2nd May 2023. – Buys on close above 169.470 targeting 30min Resistance at 169.890, Leaving Runners to the 1h Resistance formed at 170.210. – Sells on close below 168.780 targeting 30min Support formed at 168.170, Leaving Runners to the Daily previous Resistance formed on 25th April 2023 at 167.550. – There is still a probability for price to retest the Daily Resistance formed on 25th April 2023 correcting the Bullish move from Friday 28th April 2023.
by SalimFX20
GBPJPY Technical Analysis 03.05.2023 1h chart– Previous Daily candle closed Bearish at 170.110 forming Daily Resistance at 171.700 as price rejects the Monthly Highs formed in October 2022. – Buys on close above 170.540 targeting 1h previous Support formed at 170.940, Leaving Runners to the 30min Resistance formed at 171.470. – Sells on close below 169.950 targeting 1h Support formed at 169.400, Leaving Runners to the 1h Support formed at 168.770. – There is a probability for the new Daily candle to respect Daily Resistance formed on Tuesday 2nd May 2023 to correct the Bullish move that happened on Friday 28th April 2023.
by SalimFX20
GBPJPY Technical Analysis 02.05.2023 1h chart– Previous Daily candle closed Bullish at 171.700 tapping into the Monthly Highs of October 2022. – Buys on close above 172.060 targeting 4h Resistance formed on 4th February 2016 at 172.420, Leaving Runners to the Weekly Resistance formed on 1st February 2016 at 172.900. – Sells on close below 171.510 targeting 4h Support formed at 171.220, Leaving Runners to the 1h Strong Support formed at 170.920. – Despite the Daily closing Bullish there is a probability for the Tuesday Daily candle to close Bearish forming Resistance as price is trading within the 2022 Highs.
by SalimFX20
GBPJPY Weekly Analysis 1/5/2023 to 5/5/2023The price currently retesting a major high at 172.071 from 2022 & showing signs of price rejection finding resistance at that high while the price also formed a support at 171.051 on shorter TF. So if price closes below the support on shorter tf then it might continue pushing down as a pullback to retest the next support or uptrendline at 169.229. But if price closes above the recent high then it might continue its bullish run towards the next key level at 174.939.
by mightybullcapital
GBPJPY Technical Analysis 01.05.2023 1h chart– Previous Monthly, Weekly and Daily candle closed strong Bullish at 171.070 above Monthly Resistance formed in November 2022 at 170.740. – Buys on close above 171.230 targeting 1h Resistance at 171.640, Leaving Runners to the 4h Resistance formed on 31st October 2022 at 172.060. – Sells on close below 170.520 targeting 15min Support at 169.850, Leaving Runners to the 1h Support at 169.410. – Monday Bank Holiday, all UK Banks will be closed in observance of May Day. – Learn : May Day bank holiday in the UK – May Day bank holiday is a day for celebrating the achievements of workers and their ongoing fight for better working conditions. It is also a day for celebrating the arrival of spring and enjoying time with family and friends.
by SalimFX20
GBPJPY Technical Analysis 27.04.2023 1h chart– Previous Daily candle closed Bullish at 166.630 forming new Daily Support at 165.860 as price respects the Daily Support formed on Friday 14th April 2023. – Buys on close above 167.020 targeting Daily Resistance at 167.530, Leaving Runners to the 4h Resistance formed at 167.840. – Sells on close below 166.240 targeting Daily Support formed at 165.860, Leaving Runners to the 4h and the 1h Support formed at 165.550. – Targets for Buys and Sells are much smaller as it is necessary to adapt to the market / price action, better sells will be once price break below the Daily Rejection wicks on the left from 14th April 2023.
by SalimFX20
GBPJPY Technical Analysis 26.04.2023 1h chart– Previous Daily candle closed Bearish at 165.860 forming new Daily Resistance at 167.540. – Buys on close above 166.170 targeting 1h previous Support formed on Monday 24th April 2023 at 166.600, Leaving Runners to the 1h Resistance formed at 167.030. – Sells on close below 165.560 targeting 30min Support formed at 165.190, Leaving Runners to the 1h Support formed at 164.680. – Price may reject or consolidate above 165.500 as price consolidated previously on the 4h timeframe.
by SalimFX20
GBPJPY Technical Analysis 25.04.2023 1h chart– Previous Daily candle closed Bullish at 167.540 above Daily Resistance formed on Thursday last week (20.04.2023) forming new Daily Support around 166.630. – Buys on close above 167.720 targeting 1h Resistance at 167.970, Leaving Runners to the Daily Resistance formed on 15th December 2023 at 168.350. – Sells on close below 167.070 targeting 1h Support at 166.650, Leaving Runners to the 15min previous Support formed on 21st April 2023 at 166.230. – The push up on the higher timeframe could be the new Weekly candle forming top wick before breaking the lows to potentially form Resistance.
by SalimFX20
GbpJpy -> Be Careful HereHello Traders, welcome to this free and educational multi-timeframe technical analysis . On the weekly timeframe you can see that GbpJpy is approaching a quite strong and obvious previous weekly resistance area exactly at the 169 JPY area. You can also see however that market structure and moving averages are still quite bullish so I just do expect a deeper push into the resistance zone, followed by a short term rejection towards the downside but then I definitely do expect more continuation towards the upside again. On the daily timeframe you can see that GbpJpy just broke above and retested a previous daily resistance area which was turned support so I am now just waiting for a deeper retested of the 169 JPY area before I then do expect also a short term daily rejection towards the downside. Thank you for watching and I will see you tomorrow! You can also check out my previous analysis of this asset:
Long
by basictradingtv
39
ASIA: GBPJPY - LIBRA (HEAD & SHOULDER) SETUP - MOMENTUM ENTRYIn line with prior setup posted, both of these pairs seem to be pointing to heavy weakness incoming. They look almost too perfect with trend reversal higher timeframe picture looking like an example straight out the technical textbooks and this makes be very weary.. however the setups are legitimately appearing so perhaps less thinking will do me well right now and just executing. Also massive amount of stop losses seem to be sitting at 165 so lets see if they go for them
Short
by USA_Capital_Funds
GBPJPY Technical Analysis 24.04.2023 1h chart– Previous Weekly candle closed Bullish at 166.820 creating new Weekly High for 2023, Daily closed small Bearish candle leaving a Rejection wick at the Previous Daily Support area. – Buys on close above 167.180 targeting Daily Resistance at 167.500, Leaving Runners to the 4h / 1h Resistance at 167.750 – Sells on close below 166.590 targeting 15min previous Resistance formed during the London session on last Friday at 166.230, Leaving Runners to the 4h Support formed at 165.860. – The probability for price retesting Daily Support formed on Friday 14th April 2023 is High knowing the last 4 weekly candles closing Bullish and we haven’t had any price retest to the previous broken Weekly Resistances on the left.
by SalimFX20
GBPJPY Technical Analysis 21.04.2023 1h chart– Previous Daily candle closed Bearish at 166.980 forming new Daily Resistance around 167.500. – Buys on close above 167.260 targeting 4h Resistance at 167.570, Leaving Runners to the 1h Resistance at 167.870. – Sells on close below 166.840 targeting 4h Support at 166.520, Leaving Runners to the next 4h Support at 166.280. – Retail Sales m/m data for the UK Economy to be released 1hour before London open, followed by Flash Manufacturing PMI and Flash Services PMI during the London session.
by SalimFX20
GBPJPY Technical Analysis 20.04.2023 1h chart– Previous Daily candle closed strong Bullish at 167.500 above the recent Daily Highs formed early this week and last week. – Buys on close above 167.920 targeting Daily Resistance formed on 15th December 2022 at 168.340, Leaving Runners to the next Daily Resistance formed on 13th December 2022 at 168.820. – Sells on close below 167.350 targeting 1h Support at 167.050, Leaving Runners to the next level of 1h Support at 166.790. – As the previous Daily candle closed strong Bullish, the targets for Sells becomes smaller than Buys as we follow the current Bullish Trend.
by SalimFX20