JPYGBP trade ideas
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
GBPJPY: Still unfolding ending diagonalBuy with SL of recent low for target of new high & then short from the top to the previous fourth & the second wave of ending diagonal as a target.
💡 Don't miss the great sell opportunity in GBPJPYTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (141.75). 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 downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 45.
Take Profits:
TP1= @ 140.85
TP2= @ 140.35
TP3= @ 139.50
SL: Break Above R2
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💡 Don't miss the great sell opportunity in GBPJPYTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (141.65). 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 downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 40.
Take Profits:
TP1= @ 140.68
TP2= @ 140.05
TP3= @ 139.55
TP4= @ 138.70
TP5= @ 137.64
TP6= @ 136.82
SL: Break Above R2
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💡 Don't miss the great buy opportunity in GBPJPYTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (141.7). 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 uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 55.
Take Profits:
TP1= @ 142.25
TP2= @ 142.50
TP3= @ 142.50
SL= Break below S2
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GBPJPY: Short for correctionSell on cmp keeping SL of recent high for a target of a new recent low and 141.2 zone.
💡 Don't miss the great buy opportunity in GBPJPYTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (141.35). 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 uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 45.
Take Profits:
TP1= @ 142.00
TP2= @ 142.25
TP3= @ 142.80
SL= Break below S2
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GBPJPY SHORT TERM SELLTriangle has been formed on 15M Candlestick. There is high chance of short sell in GBPJPY in next days
GBPJPY OUTLOOK139.40 support. if break 139.40 need to wait until 138.30
141.20 target ...if any break above 141.28 aggressive buying towards 143
