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...
Looking 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...
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...
GBPJPY is currently sitting at 140.000 , a significant key area in the market and on the 1HR time frame we can see market forming a triangle pattern. Market now is squeezing more tighter and we can see a possible break to the up or downside.
For entries we have two different levels marked in pink area . We can get a possible entry on these levels with...
The 4-hour turning down with a bearish sequence against the 6/05/2020 highs at 139.74. The 1 hour is turning down against 134.69. While below there expect the pair to extend lower.