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Gbpjpyidea

GBPJPY Completing Movement of Wave CThis pair has made wave a and wave b has ended. The thing that will happen after that is this pair will make movement towards point c. The price at point b is 147,000. This price will remain valid if the price does not move lower than 145.00, so it can make a move to point c. if viewed to a lower time frame that is H4, this movement has been cornered with the confirmation of a strong price movement that will push the price move higher. The recommendation we provide is to buy up to point movement point c and stop loss between 145,000 to 144,000.
Short
by fXVolume
GBPJPY DivergenceGBPJPY has been in an up trend channel for a while and all the while the indicators have not confirmed the move. As you will notice the MACD and the RSI have been making lower highs while the price action has been rising. This is the definition of divergence or non-confirmation which suggests that the rally will soon come to an end. A lot of times knowing when the actual high is upon us is the hard part thus making it difficult to execute a trade with confidence. That is where the rising channel comes into play. Price has made its way to the upper part of the rising channel and is finding resistance which if these levels hold will provide a ceiling from which price can move lower. At this point the risk to reward appears to be favorable for a short trade given the price action that we saw on friday. So long as price can stay below the recent high then I will be targeting the lower trend line.
Short
by Andy_Garcia_CMT_CFTe
2
GBP/JPY SHORT based on a descending channelIt looks like it might be time for GBP/JPY to come down a bit again. There is an extremely well-respected descending channel and potential flag on the 4 hour chart. TELL ME IN THE COMMENTS SECTION WHAT YOU GUYS THINK ABOUT GBP/JPY CURRENTLY! PLEASE NOTE: I am starting a compound challenge where I will attempt to turn $20 into $10,000 by doubling my account (while risking 50%) for 9 straight trades. This is why my take profit is set where it is. In reality I would be looking to TP at the bottom of the channel but if price rejects at the previous low it would create a triple bottom and would likely break the channel on the next move upwards. Only time will tell. PLEASE ALSO NOTE: I don't use stop losses unless I am locking in some profit. Therefore what I will be looking for is a 4 hour candle close above the current descending channel to signal a break and an exit for me.
Short
by Jabest
G/J At A Critical Point There is a 1-hour descending channel currently which makes it appear to be a good short opportunity at the moment. However I will wait for it to break the current uptrend on the 5 min. chart before I enter a short. The higher time frame charts are indicating a possible long entry as well so if the channel is broken it could be a very good opportunity to go long on G/J now. Wait for confirmation to trade. For best case scenario: 1. Wait for a trend break either way 2. Wait for a kiss of the previous trendline and/or a close below the low of the breakout after a pullback.
by Jabest
GBP/JPY forms triangle amid May and Carney speechesGBP/JPY 1H Chart: Symmetrical Triangle The British Pound is concentrating against the Japanese Yen in a one week long symmetrical triangle. In many cases, formation of such figures represents anticipation of certain fundamental events. In this particular situation, such event might represent either the British PM May’s or Governor Carney’s speeches at the Bank of England's conference. From technical point of view, a breakout to the south seems a more realistic scenario, as the pair faces continuous pressure from the overhanging 55-, 100- and 200-hour SMAs. In addition to that, the pair has recently made a rebound from the upper edge of a larger ascending channel, which also supports a medium-term downfall. However, there is a need to take into account that the monthly R2 together with the weekly S1 near 150.00 might constrain the fall.
by UnknownUnicorn890690