Gbpjpyanalysis
GBPJPY SHORT TRADE SETUPThe 4-hour right side is turning down against 6/05/2020 peak (139.78) & shows a bearish sequence. 1 hour is also down against 136.34 high & shows a bearish sequence. Near-term, while bounces fail below 136.34 high and more importantly below 139.78 high expect pair to extend lower. We prefer selling intraday bounces in 3, 7 or 11 swings against 136.34 high in the first degree.
Sell GBPJPY
@133.75-134.06
Target: 132.80
Sl: 134.44
Good luck !
GBPJPY SHORT TERM TRADE SETUPTechnical Analysis- The 4 hour right is turning down against 4/09/2020 peak (135.74) but shows a bearish sequence. 1 hour is turning up. However, while near-term dips remain above 131.44 high expect pair to extend lower 1 more push before cycle from 4/09/2020 peak ends & a bounce higher in 3, 7 or 11 swings could take place.
Signal- Long GBPJPY
@129.50-25
TP1 : 130.10
Tp2: 130.50
Tp3: 131.10
Sl:128.80
Good luck !
GBPJPY SHORT TRADE SETUPThe 4 hour right is down against 12/13/2019 peak (148.05) & shows a bearish sequence. 1 hour is turning down against 135.46 high. Near-term, while bounces fail below 135.46 high and more importantly below 147.93 high expect pair to extend lower.
SHORT GBPJPY
@132.40-60
TP: 131.60
SL: 133.20
GOOD LUCK !
Weekly Forecast GBPJPY (11th May to 15th May 2020)The 4 hour right is down against 12/13/2019 peak (147.93) & shows a bearish sequence. 1 hour is turning down against 135.46 high. Near-term, while bounces fail below 135.46 high and more importantly below 147.93 high expect pair to extend lower.
Short GBPJPY
@133.133.50
Target 1- 130.50
Target2- 128.00
Sl: 134.00
Good luck !
GBPJPY SHORT TRADE SETUPThe 4 Hour right is up against 126.54 low from 8/11/2019. The cycle from there in wave (A) ended at 148.07 . The correction of the cycle lower from there ended at 144.61. While below 143.28 where the hourly right side is down another swing lower in wave (B) to correct the cycle up from the 8/11/2019 lows can be seen. While above there expect the pair higher again.
GBPJPY TRADE SETUPThe 4 Hour right is up against 126.54 low from 8/11/2019. The cycle from there in wave (A) ended at 148.07 . The correction of the cycle lower from there ended at 144.60 & while below there another swing lower in wave (B) to correct the cycle up from the 8/11/2019 lows can be seen. While above there expect the pair higher again.
GBPJPY LONG TRADE SETUPThe 4 Hour right is up against 126.54 low from 8/11/2019. The cycle from there in wave (A) ended at 148.07 . While above 140.79 where the hourly is turning up a bounce to correct the cycle lower from there can develop. While below the 148.07 highs another swing lower in wave (B) to correct the cycle up from the 8/11/2019 lows can be seen. While above there expect the pair higher again.
GBPJPY Signal of the day The 4 Hour is turning up against 126.50 low from 8/11/2019. The cycle from there in wave (A) ended at 148.07 . While above 140.81 a bounce to correct the cycle lower from there can develop. While below the 148.07 highs another swing lower in wave (B) to correct the cycle up from the 8/11/2019 lows can be seen. While above there expect the pair higher again.
Shor term trade.
Sell GBPJPY
@143.10-25
target: 142.20-141.90
Stop loss: 143.60
Good Luck !