GBPJPY Technical Analysis

First time trading the $GBPJPY, but think I got a good entry… All I can do next is see how prices react to the descending trendline or the resistance levels I’ve plotted if prices manage to breakthrough the trendline that act as resistance in order to determine my next move later today or maybe sometime next week.


My indicators are very flat on the weekly, but there could be another break up on the daily. But then again 2 hours up the N3 my charts might look different to yours in Durbs!

Hahaha so you’re a Durbanite!? And which Tech’ indicators are you using?? sigh… Thinkin of calling it a day & check up on things sometime next later while I head out for a downloading session

No not a Durbanite, born & bred in the Midlands and still there! Using some custom indy’s and heiken ashi.

Haha my bad… Care to share what these custom indy’s do? Haiken ashi?? Never tried that one out, what’s your trading style?

Two London open trades this morning:



Prices have reached support from both the horizontal level & trendline along with a 4hr pin that has formed/major fakey setup… Patiently waiting to see how things unfold & whether the bulls will step in to push prices further up

Prices have reached the descending trendline, patiently waiting to see whether the inner trendline is able to hold on it’s 3rd bounce before I consider taking a position to sell.


Prices reached a resistance zone & crumbled but found some support from an inner trendline, 2 evening stars have formed & I’ve connected a descending trendline with 2 bounces, currently waiting for a sell signal on the 3rd bounce

Got 100 pips already on H4.

@SafariPip
Guess ya got better timing than I do on this one, didn’t pay much attention to it & only realized the candlestick formations during the weekend & it was already too late… But congrats’, hopefully I’ll be able to hop on with a well timed trade when prices reach the trendline if it manages to hold