It has been a 3 week consolidation now for the GBPJPY. It is till possible for a break to the upside because of the strong uptrend. The price to look out for my to trade to the upside is 141.623. That would mean that the candle has to close above that line and then I would cheack on the lower time frames for price action. The next Resistance would be around the...
Looking for a short on this. It has reached the trendline on the weekly chart and as we can see it has reacted rather sharply every time it got here. It is on resistance too. Look out for price action. I aspecially look for a pinbar or engulfing on the lower timeframes. Some other data might confirm a reversal. Keep an eye open. TP1: 0.75002 TP2: 0.74214. SL...
This is a strong uptrend. 7 Feb shows a strong pinbar indicating a further uptrend. Both 50 and 200 sma is beneath the trend, also supporting the uptrend.
This might go up to 1.84188 at least. Keep an on on a further up after that to about 1.8490.
Disclaimer
This is not trading advice.
This is my own analysis and may be way wrong
I am taking a short with a trailing SL.
The reason is that it is already in a downtrend and 20 sma will cross 50 sma soon. 20 sma also touched the candles from 11 January 2019 and all of them closed beneath the 20 sma line, indicating a further down.
TP is around 1.64563. It might go lower to 1.63790. Remember that I have a reasonable trailing SL which I figure...
