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Gbpjpyprediction

GBPJPY(1 HR)Hello, it has been quite a while! Price has hit 61.80% and on major structure that's reversal on major structure, so am expecting price to prz levels that's 50.00% to 38.80% and fill up previous candles on the left which are the big candles then move to -27.00% and -61.80%, filling the candles at the left although when price approaches in between, 23.00% & 0.00% price tends to consolidate around those areas. More so, look out for a proper break and retest before entering. Share with me your thoughts. Jesus loves you<3
Short
by louisemwesigwa
is GJ forming a symmetric or an Ascending triangle?as we monitor gbpjpy we can see it forming a symmetric triangle > for the sake of this trade/profit we will assume that it is. most profit potential is on the 2-day chart key point: . Resistance: > after the breakout, of the previous resistance 157, we see GJ made a high of 168 also failing to break this twice we can call this our roof > after 168 we see gj failing to stay above 166 with that we can draw a counter trend line going down by two > it is possible to see gj eventually reacting to 164 level but i believe 166 is a more interesting area . Support: > after getting rejected at 168 we see price bounce off levels 151 to 156.5 now it is at 161.5 > with that we can see trend line with a rate of 5 take away: > gj is on the verge on forming a symmetric triangle > keynote that boost my confidence with this analysis is with the sell off last week we still see gj managing to close inside this triangle > we should see gj bounce off from 161 to 164 or possible 166 outlook: > if we are not in this buy, we will watch gj's buy up to 164/166 on the 2/3 day > if there is a breach of on the 2/3 day, we can assume two things: there is a breakout or there is a trend break to the larger ascending triangle >we will classify it as a breach when price opens or closes out of the symmetric triangle NB: IF THERE IS A BREACH OUT OF THE SYMMETRIC TRIANGLE THEN PRICE IS REACTING TO THE LARGER TREND ASCENDING TRIANGLE WITH THAT, WE SHOULD SEE PRICE RETEST 168 LEVEL. > After that we take profit and wait for more information to determine our bias
by shermuelinvesting
3
Short GBPJPYShort GBPJPY @ 163.30 TP: 157.88 SL: Will keep an eye and most probably cut this trade above 164.60 area. We saw a dovish hike from BOE which cause a sell off in GBPXXX currency which was all reversed on the back of the US NFP print (which doesn't really make sense). I would think this GBP rally will be short lived and I expect sterling to trade weaker in the coming weeks. Some technical resistance at 163.30 fibbo lvl. Support comes in at 162 area ... below that there is 160.40 area and then finally our TP at 157.88. This trade offers a great R/R ratio. Good luck ;)
Short
by WhosPipsAreTheseAnyway
3