GBPJPY 1st week of Feb expectation
I am expecting price to retrace lower to the demand zone market out and to take IRL from the lows just above. price is in discount zone so i think it is highly probable that price should react bullish off of that demand zone and we should be going up for the rest of the week.
Jbpjpy
GBPJPY 27-31 January weekly expectation.I am expecting GBPJPY to move higher this coming week sweeping the IRL and going higher to the supply zone. Price has just entered the premium zone of the daily dealing range so we can expect a retracement from the supply zone. The marked out IRL could be possible reversal points however this is unlikely. I am overall bullish for GBPJPY however i think price may retrace to the demand zone after entering the supply zone.
GBPJPY 15MIN TIMEFRAME ANALYSIS (BUY)We buy this pair because there is a strong support level below. The entry and exit levels have been shown on the chart. We know what we are doing and we do what the market is doing. This is more than an institutional analysis. Invest wisely. Wish you more success.
Don't miss the great buy opportunity in GBPJPYTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (132.65). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. GBPJPY is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 57.
Take Profits:
TP1= @ 133.65
TP2= @ 134.80
TP3= @ 135.95
TP4= @ 137.40
TP5= @ 139.75
SL= Break below S2
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