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Poundyen

GBPJPY WEEKLY SWING TRADE! (1000 PIPS?)Hi fellow traders. Considering that GJ has tanked significantly from its weekly highs a few months ago, all in the region about 140.000(+), I think now might be the perfect time for a reversal. RSI has also tapped the oversold region from last month, it might be time to see it go up. I believe we could possibly see a long trade that could play out within the next few weeks in order to approach the outer resistance trend line drawn in black. I would aim to enter slightly lower than the current market price, around the region of 133.000 - 133.500 or lower. A perfect entry with a tight stop loss could prove to provide invaluable profits. A perfect break of the purple resistance drawn could help in providing a long bias for the weeks ahead. This is just technical analysis . Do not follow this trade blindly! If you managed to read it this far down, thanks for reading this! If you could, please do offer your ideas & perspectives on this pair. Buy or Sell and why? Additionally, drop me your charts for it, that'd be great so I can see where you are coming from. I'm a new guy to the FX & Crypto market, trying to learn FX & Crypto, and I'd appreciate any help people may offer! Please drop a follow! I need reputation points!!
Long
by TheFinancialTRDR
1
GBPJPY Quick Push UpHi fellow traders. Considering GBPJPY has just tapped the trend line from below acting as support, I plan to swing this trade to the upside where the upper resistance trend line lies. Aim to enter slightly lower than the current price, setting a buy order around 133.350. Could possible retrace lower and then move to the upside, so be ready to buy in at a lower possible price. Keeping a stop loss on this trade around the red support trend line. Hope this plays out well. Good luck! This is just technical analysis . Do not follow this trade blindly! If you managed to read it this far down, thanks for reading this! If you could, please do offer your ideas & perspectives on this pair. Buy or Sell and why? Additionally, drop me your charts for it, that'd be great so I can see where you are coming from. I'm a new guy to the FX & Crypto market, trying to learn FX & Crypto, and I'd appreciate any help people may offer! Please drop a follow! I need reputation points!!
Long
by TheFinancialTRDR
GBPJPY : Barrier Triangle in the making ?we have experience heavy downside GJ since early 2020 until now on march 2020. Critical level : 126.779 what should we expect from critical price ? I assume this price has to be very crucial for market to go more downside, below 126.779, If price fail to break / stay above this level after rejection, we assume (e) triangle will take place with target around 140.444 - Which is very high liquidity as so much transaction held there. We will find buy setup, if any , above critical level on lower timeframe. thank you !
Long
by dzulmonsterfx
2
GBPJPY Double bottom buy zone 1000 pip move upLovely little set up here. GBPJPY approaching a double bottom set up and a key buy zone historically. Confluences for this trade 1. Need to see price reach same area as previous bottom. If not i will not take the trade. Once reached look for continues rejection probably on lower time frames (15 min and 30 min). 2. This pair has dropped a lot recently so normally we see a pull back and i have plotted the Fibonacci retrace which my tp level is near the golden zone of 61.8. 3. Double bottom pattern is a historically accurate pattern to trade. 4. Price region which pair is approaching is also a key level for buy zone. Points to consider Wide Stop loss however risk reward is great at 1:4. (£100 risk for £400 gain) (1% risk for 4% gain) Also corona virus has been making the markets very choppy therefore a wider stop just in case of any drastic movement. Price is currently in a descending channel so overall bearish so it could easily continue going down however like i said earlier i am expecting a pull back soon this is why Risk management is important here. Protect your money people. Lets make some percentage gains!
Long
by UnknownUnicorn3360638
Short opportunity after closing below resistance?The price of GBPJPY has been in a steady uptrend for a couple of days, trending very nicely as seen on the ADX indicator. Now the price has closed just at the Fibonacci R3 and is unable to break higher at the last session of the previous week. This forms a tweezer top right at the resistance, signalling a possible reversal or a slight pullback. To confirm this, the stochastic indicator has been showing overbought signals for a while now, and that the pair is likely to continue trending as shown by ADX. Price is likely to consolidate at R3 before breaking out or reversing back to R2 for a short opportunity. Let me know what you think in the comments, thank you for your attention!
Short
by ohitswy