Sellgbpjpy
GBP/JPY SellsGBP/JPY has been bullish for some time now with high momentum pushes on all timeframes
there has been a recent correction and some support formations after a decent rally.
with no significant pullback in place since market open, I opted to take some sells should we break the previous candles lows come market open.
On this occasion, the market fell below the Pre-London candles and triggered my position.
Targets are ambitious but they are also in a significant structure zone on the H4 timeframe.
If the H4 timeframe is to see a decent reversal, I have this area in mind to be where it will find consolidation
Simple analysis on a pair GJWe notice that two successive peaks “A” and “B” are formed on the daily frame, and the formation of a bearish trend has begun, which indicates that the sellers have begun to control the market, as well as the emergence of the “B” and “C” double top patterns, which suggests a significant decline if the price breaches the neck area
To confirm the pattern, it must be seen below the neckline with a daily candle
this is my WTS number : +212660910131
GBP JPY Sell to 151.450GBP JPY Has made some retrograde in the last 30 days. probably the sellers are still on their way to 149.300 -149.100.
NI225 Has made +3.55 % Last 30 days, By moving from 28583.83 to 29601.83, targeting 30500 Japanese yen are doing well right now, I am waiting for GDP Annualised news, with the previous: 1.3 the forecastings: -0.8
I expect high volatility to the downtrend continues, the price will continue to 151.400 - 151.600 support area.
152.600 is my sell open position now
I made a sell pending order at 153.250 just in case the pairs make some reversal moves.
targeting the 151.500 area as you can see in the chart,
always risk management will help you to protect your position.
GBPJPY Hey Traders, in the coming week we are monitoring GBPJPY for a buying opportunity around 151-152 Zone, we might see a pullback around 153 zone towards 151 before the rally to 156 zone, Back then we might consider a swing sell around that strong supply zone. Once we will receive any confirmation we will execute the trades, currently we are just preparing the setups for the next week and setting the most strong zones.
Don't forget that money management is the key level to success in the Trading journey so always consider following a good money management plan especially with swing trades because the movements are more Violent!
Good Luck and Happy weekend!
Joe.
GBP JPY next target is 151.600We have seen some bearish moves; Monetary Policy Report, 4 November 2021 gives bearish signs for GBP. now we will see some sell force going to 147 - 149 levels, we can sell for short target 151.700 - 151.400 before some buyers enter at this support level. probably we can see the price reverse but in general the JPY is strong right now.