Trading suggestion:
". There is still a possibility of temporary retracement to the suggested resistance line (152.11).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. GBPJPY is in a range bound, and the beginning of a downtrend is expected.
. The price is below the 21-Day WEMA, which acts...
With the Pound almost continuing its downtrend on the ending day of the third quarter, today is going to decide the trend for the next quarter from where is price going to stop at the EOD. If the current monthly resistance zone holds strong we are looking at excellent sell opportunity as long as we break the daily support zone. As we have clean candles to the left...
We can see a clear 5 wave structure on upside. This suggests that there should be a three a wave downside correction . One should go short on any bounce with SL of 152.6 for tgt of 151- 150.8 zone .
Trading suggestion:
". There is still a possibility of temporary retracement to the suggested resistance line (150.58).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. GBPJPY is in a range bound, and the beginning of a downtrend is expected.
. The price is below the 21-Day WEMA, which acts...
Pound against Japanese Yen pair, has a bearish outlook from technical view this month, no exceptional of the downtrend this week too,
it has strong resistance of 152.250 or 152.500 zone, this area pushes the price down further in the coming week 151.750 area..and a down wedge pattern also support this bearish scenario..
As we can see that the asset is simply following its all the conditions , like it went for the double top then from there it came down from the resistance.
Now following the box, It is going to show a down side as given by the Bearish Candle, But it might also go for the resistance line.
I will take the sell trade here because it seems to be a great...
Based on previous analysis of GBPJPY the trade was opened and performed insane 📉
still running with 100+ pips more counting!
This is the 3rd winning trade in 1 week of my analysis
FOLLOW FOR MORE!
ALL THE BEST!
Sell GBPJPY
Things to consider:
1. Channel formation on daily timeframe
2. According to COT data GBP is Neutral and JPY is shortening
3. Down Momentum Started
How to enter:
1. Sat and Sun is off so entry will be done on Monday
2. SL - 152.6 TP - 150
3. Follow my analysis
ALL THE BEST!
Head and Shoulder pattern has been formed on GBPJPY on weekly time frame.
The price is most likely to move down from the neckline.
Things to consider:
1. Weekly Head & Shoulder formation
2. Monthly Resistance
3. Latest COT report - GBP "Neutral" & JPY "Short"
How to enter:
1. Follow the analysis that i have made
2. Locate all the important price areas
3. Entery...
Add GBP/JPY in your watchlist, it seems it is ready for a potential down move 📉
Things to consider:
1. Big impulse last month, now taking breath
2. Traingle Formation
3. Hidden Divergence in RSI
4. Latest COT report : GBP - Long 43k Short 43k (neutral) JPY - Long 30k Short 85k
How to enter:
1. Study the chart as shown in my analysis
2. Wait until trendline is...
