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Gbpjpyanalysis

GBPJPYDear traders, As I have been accustomed to in recent months and this time my technical analysis had an accuracy rate of over 95% and I will try to continue to keep this percentage as long as possible As i said last weeks .... GJ has reached the trend line and strongly rejected ... which I still look forward to. Even if he can make another range, I expect GJ to go down the steps to area 148 ... and from there I'll reanalyze! THIS WEEK...GJ has already made 50% of the descent we were waiting for! Even if it will probably retest the trend line ... my target for the next period remains 148,400 NOTE: Please, give a LIKE if you find this idea useful! GREAT ATTENTION: *This information is not a Financial Advice.
by BloomFX_SIGNALS
GBP/JPY SELL FROM 1.42 REGION - SHORT TERM SELLLooking at shorting GJ from current price when markets open looking at price action we can see that we have hit a point of resistance wed haven't broken this zone since 13th jan not only that every time we come into this area of 1.42100-1.42200 we start to see bearish price action showing this level of resistance could hold once more but you have to remember that we are in a strong uptrend so this trade would be going against the trend but its worth the shot as the risk to reward is around 1:8 we can see that we have been in a bit of consoldation recently for the past two weeks my general outlook on gj is still bullish but this move here could catch around 100+ to the downside Reasons for sells 1. daily closure Friday bearish 2. weekly 200m respected 3. At the top of the range/at a strong level of resistance SELL FROM OPEN WAIT FOR 11PM ENTRY : 142.000 STOP LOSS 142.150 (15PIPS) TAKE PROFIT 1 141.000 (100 PIPS) TAKE PROFIT 2 140.400 (170 pips) Looking at the overall trend of gj is bullish which means this is counter trend trade use only 1% of account balance Trade at your own risk
Short
by Carlos44
GBPJPY Top-Down AnalysisHello Traders, Here is the Top-Down Analysis of GBPJPY (Monthly, Weekly, Daily for direction and 4H for entry) for Week 44 - 26 Oct M > Market is respecting downward resistance trend-line. Price faced rejection at resistance level and moved down. Price dropped to complete W formation. W > We saw an M formation and expected price to rise up to test the neck as our target. However price reversed short of our target from 0.5 Fib level on last bearish impulse. D > Price is unable to break daily supply zone it created while dropping to create M formation. Neck of M is on top of supply zone where price is getting rejected at its lower end itself. Price made another attempt but faced rejection, created a double top. However price is also not able to break next supply zone now turned demand zone. Price is moving in a range of about 200 pips for past 4 weeks. We can look at targets after price breaks out from this range. As per COT GBP saw addition of Long and closure of Short positions further improving net positions though still in -ve. BXY however weakened during the said week and ended last week in a Doji after strong buying pressure during start of the week. JPY saw closure of Long and addition of major Short positions reducing net positions further however N-R added few Long and closed major Short positions. JXY during the said week ended in a Doji but improved its position last week. We must note that in month of June and July BXY made all bullish move while having negative net positions, this ride was because of weak DXY and not due to strength of BXY. Hence we expect a realtime correction to the downside soon for all GBP pairs. 4H > Price is dropping after facing rejection from supply zone. We will monitor price action for breakout from current range. Currency Correlation > Price has positive correlation with GBPUSD, GBPCHF, GBPCAD, CADJPY and EURJPY and negative correlation with EURGBP. This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section share your view or ask questions. Thank You AP17FX
Short
by AP17FX