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Gj

GBPJPY 19/09/2022Price retesting a key level at 162.687 which is acting as recent support for gj also price has another key level at 163.563 which could act as its resistance since that key level has multiple retests from HTF. Now if price doesn't make a breakout of the resistance & makes a breakout of the recent support then price could come down to the next possible support at 161.901 or all the way to 161.152. However if price respects the support & breaks out of the resistance then it could push up to the next zone at 164.098 or 164.737.
by mightybullcapital
GBPJPY 16/09/2022Price retesting a key level at 162.687 which is acting as recent support for gj also price has another key level at 163.563 which could act as its resistance since that key level has multiple retests from HTF. Now if price doesn't make a breakout of the resistance & makes a breakout of the recent support then price could come down to the next possible support at 161.901 or all the way to 161.152. However if price respects the support & breaks out of the resistance then it could push up to the next zone at 164.098.
Short
by mightybullcapital
2
GBPJPY 16/09/2022As we can see the price just made a breakout of a head & shoulder pattern's neckline & came all the way down to retest the next support zone. now if continues to respect the neckline at 164.707 as its resistance & break & closes below the recent low at 163.922 on 30 mn tf then price might continue to push down to the next support at 163.417. And if price respects the recent low as its support & makes a breakout of the downtrend its moving in respect to, then it could continue to push up to the neckline at 164.707 or all the way up to 165.928.
Short
by mightybullcapital
2
GBPJPY 14/09/2022Price retesting a recent support at 164.867 while having a possible resistance at 165.513 moving in respect to a recent downtrendline in 30 min tf. Now if price respects the possible resistance & makes a breakout of the recent support then it could continue to come down to the next support at 164.290 or all the way to 163.615. However if price breaks out of the possible resistance breaking the downtrend, then it could push all the way to to previous resistance at 165.963.
Short
by mightybullcapital
4
GBPJPY 07/09/2022 (updated)So the price has a very recent support at 165.069 & has its next support at 164.174 on shorter tf pov. And theres a major ressitance zone for gbpjpy at 165.963 on htf pov. now price if respects the support at 164.979 & closes above the resistance with further bullish move then it could continue moving up creating higher high while moving in respect to the uptrendline. And if makes a breakout of that support at 165.069 then it could go for some retracemnts coming all the way down to retest the next support at 164.174.
by mightybullcapital
GBPJPY 07/09/2022So the price has a very recent support at 165.069 & has its next support at 164.174 on shorter tf pov. And theres a major ressitance zone for gbpjpy at 166.319. now price if respects the support at 164.979 & continues with further bullish move then it could come up to make a retest at the major resistance while moving in respect to the uptrendline. And if makes a breakout of that support at 165.069 then it could come all the way down to retest the next support at 164.174.
by mightybullcapital
GBP/JPY - Long - Technical Analysis This is my technical breakdown on GJ. GJ is in a bearish condition on the higher time frames, however, we've just had a strong breakout of a descending wedge (bullish pattern), caused by the UK electing their new Prime Minister. Now we've had this break out, I'd be looking to go long on GJ on the retest which could happen at either 163.500 or 162.500, where price previously respected these levels as resistance. 162.500 offers the most confluences, but with this bullish strength, we could see GJ respect 163.500 - I'd be looking on the H1 timeframe for a rejection / indication that GJ wants to go long. The UK electing a new PM, could be the catalyst to drive GJ higher breaking this years highs, however, I'd be looking to target 166. and 168. If we get a break of 168, we could see price hit 170 or even 175. a very bold psychological level
Long
by TomBray1