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Gpjpy

GBP/JPY Short Setup - 1H TimeframeI'm Looking to short GBP/JPY from the 195.15 resistance level, with a Stop Loss at 196.20 to account for potential spikes above the recent highs. My strategy includes moving the Stop Loss to breakeven (SL to BE) once Take Profit 1 (TP1) at 194.08 is hit to lock in some profits safely. The trade includes multiple Take Profit (TP) levels: Take Profit 1 (TP1): 194.08 – I’ll move my SL to breakeven once this level is hit, reducing risk and locking in the position. Take Profit 2 (TP2): 193.35 Take Profit 3 (TP3): 191.97 This setup allows for a favorable risk-to-reward ratio, especially if the pair respects the resistance level and follows through with a reversal. The Stop Loss is placed to protect against potential bullish continuation if the market breaks the current structure.
Short
by PipShiesty
GBPJPY → The bullish trend will continue, but... FX:GBPJPY is forming a set-up within the ascending channel, which predicts the continuation of the trend, but for this the price needs to overcome the resistance at 188.28. On D1 we can see that fundamentally and technically the national currency of Great Britain looks much stronger than the Japanese currency, although Tokyo has been trying hard to strengthen the currency lately, which technically works, but only against the background of the weakening of the dollar index. From the point of view of technical analysis, the price is pushing away from the support of the ascending channel and continues to forge the ascending triangle, a false breakdown of the resistance was formed earlier, but there is no fall, which could change the trend. The price is returning to the resistance, which only confirms the target level: 188.28. A break of this resistance will continue to form an impulse, which will only continue the trend. The moving averages are supporting the trend. Support levels: 186.8, 0.236 fibo, 0.382 fibo Resistance levels: 187.13, 187.55 188.28 The market outlook is bullish, at least for the moment. There are no prerequisites for a possible breakout of support, so we stick to the realization of the bullish scenario. Regards R. Linda!
Long
by RLinda
13
#GBPJPY potential for moving buy-side! #GBPJPY Price is trading in the demand zone and we got the price rejection and hammer candlestick formed once the price close the above triangle pattern its possible to moving next resistance level 152.220 Why we like it: price trading in demand zone Hammer Candlestick Formation Watch the triangle pattern breakout 1st Resistance: 152.220 Next supply area & horizontal swing high resistance 2nd Resistance: 152.570 Next supply area & horizontal swing high resistance 1st Support: 151.511 Next demand area & horizontal swing low resistance
Long
by Skandhatrade