GBPJPY Support/Rejection levelIf you like this trade please give it a like and follow as it lets me know my ideas are helping give insight to others :)
Poundyen
GBPJPY Long AnalysisIt's a new week i hope you are pumped for the trading weekend. On the opening of the market, we can see a possible high forming on the hourly and breaking the high @ 149.761. If the market can close above 149.761, we should expect a bullish run or push up to 151.010.
Meanwhile, on the H4, price seem to be respecting our support line @ 149.471. On that note. we'll be expecting a bullish push which will be forming a bearish retracement @ 151.010
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The weekly seem to be telling a different story meaning, we should be expecting a deeper retracement to 151.874.
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We'll settle on the Daily timeframe, which is the retracemet to the neckline of the Double top that was formed.
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Do your proper analysis before taking a trade.
GBP/JPY – Week 32 – Mounting pressure below the resistanceIn the last post for this pair (week 30) we successfully predicted the correction that followed. The price also rebounded from the support area as forecasted. For this week, as we look on the 4h timeframe we see a consolidation that is taking place below the resistance area marked on the chart at 153,5. This structure has a higher probability of breaking to the upside in the upcoming days. If the price breaks the resistance area and reverses sharply it is a sign of a bigger correction in this area or a total reversal (low odds).
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial adice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
GBPJPY - Consolidation at Key LevelI was unlucky with my last prediction on this pair, however I am still expecting a break lower on GBPJPY.
As we can see from the chart it is consolidating just below the 4 hour descending TL, around the 135 psychological level. Although we are currently moving in a sideways market my bias is to the downside.
I'm hoping that with some GBP weakness this week we should see a drop lower. The set up illustrated offers a nice 1:3 R:R ratio with stops placed above the key level.
LONG GBPJPYGBPJPY broke its resistance curve line and now retouch the line. Good daily and weekly candlestick pattern and ascending scallop says time to long this pair.
GBP/JPY, where are we headed next?First of all, taking a look at the DAILY timeframe, we can observe that the price has printed some serious bearish candles. Moreover, switching to lower timeframes, we can clearly see that the price has rejected the local structure and is now headed to the downside. We are expecting the price to reach the area plotted on the chart
GBP/JPY – Week 30 – Incoming correction When we look at the 4h timeframe we have one move to the upside that started on the 20th of July. Now the price is near the resistance area at 153.5 and the higher probability move is a correction in this area after the price touches or breaks the resistance. This move can be a sharp correction that reaches the lower bound of the red channel marked on the chart or the support area. The lower probability move is a continuation to the upside without this correction, the price crawling up by making small consolidations.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial adice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
GBP/JPY, ready to dump!As we can see from the illustration, the overall market direction is bearish. The price attempted a fake breakout to the upside to catch retail Stop Losses, and it is now getting ready to drop. We will be opening Sell positions and aiming for the target shown on the chart
GBP/JPY – Week 26 – New top?For this pair we give a higher probability for a move to the upside near term. When we look at the 4h timeframe, if the price breaks the resistance area (154.200) and after that the red trendline, we are looking at a move that will most probably create a new top. Every consolidation below or above the resistance area are good entry points for the move to the upside. If the price is rejected with a sharp move from resistance we could see a break of the 152.6 low and then a reversal to the upside. We will keep you updated.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
GBP/JPY – Week 24 – Waiting for the breakoutAs we look at the 4h structure for this pair the price action structure is making a bigger consolidation that prepares the next move to the upside. We think the higher probability move for pound yen is to at least break the top. This doesn’t mean that in this consolidation we can’t have a new low, but we think the support at 153.500 should hold and if the down move happens, in this area (support) we should look for reversals.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
GBP/JPY – Week 23 – Is the support going to hold?This pair reached the top (156.100) on the 27th of May and then started correcting. This correction is a higher degree one than those marked with a red channel on the chart. As we can see on the 4h time-frame, the probability is higher for a small continuation to the downside (with or without retracement) until the price reaches the decision zone/support. There we must study the price action to decide if the price continues to the downside or we have reversal at hand. We do not advise buying now if you are trading the small time-frames.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
GBPJPY 05/24 - 05/28GJ structure really looking toppy at this point. I'm still seeing one more up potentially to like 155.500; however, the larger wave is to the downside. I'm going to be waiting for my entries on smaller timeframes to grab this short either from currently levels OR from the 155.500 (depending when I get confirmations on lower timeframe)
I can see this structure breaking down much further as well. Below the 148.500 levels
GBP/JPY – Week 19 – Short term sellIn our last analysis update for this pair, GBPJPY behaved exactly as we forecasted, it touched the minor support marked on the chart and then went to the upside reaching 154,450 yesterday. Now, for this pair we are seeing a minor correction occurring at this level with the price falling to the minor support or deeper to the blue trendline marked on the chart before going up again. We don’t exclude the possibility of a rise in price without this correction happening here, because the main trend is up, so we advise caution.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
GBP/JPY - Week 18 - Up move nextWe think this pair will make an up move at this point and we believe the potential target price of 153.400 as the place where it will go. Before that move, the price may retrace to the blue trend-line marked on the chart or at the minor support of 150.900.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
GBP/JPY - Week 17 - Watching the decision zoneFor this pair we have to study the price structure at the resistance area of 152.000. There are 2 working scenarios here for us: the first one, the price breaks the resistance area and consolidates above which means that it will continue the uptrend and the second one is a sharp reversal which would mean that the price can break the low at 149.025 or reach at least the support area at 148.500.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Possible Big Short on its way for GJThe chart would speak for itself in my opinion.
As seen in previous sessions we can see that price stays perfectly in range of the
S&R in the downtrend.
Below on the Daily timeframe we can see that price failed to stay above the Daily support and it basicly have to cool down again
No Advice just my personal idea
Trade and Stay Safe!
GBPJPY – Week 9 – Up 50%, Down 50%As we forecasted in our last analysis, GBPJPY made a down move on February 25th and it is now slowly crawling its way up to make a new top. Right now its consolidating in one of the support areas so, we expect at least one more push to the top. However, because of the sharp reversal at the 150.430 price, we can expect a down move that would at least reach the blue trendline marked on the chart once it hits a new high or right now before breaking it. We advise caution, this is not a very clear setup for any big direction move.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
