GBPJPY Bull pattern

Good morning all, what a week we have had. Began the week with a TP hit and also ending the week reporting on the TP on GJ being smashed through. I have been buying from that demand zone multiple times. We have had some good trades from in over the past few months, I always thought we would get the break to the upside, and this week it happened in style. Currently we are 713 pips in profit on this setup, TP was just over 500 pips, where I did close some of my position just incase and left the rest running, which I am glad I did and I hope you also did too. Price has found itself at this supply zone from 2018 so I think we may see a pullback in price from here. Keep holding for now and ill update again next week on the next move, enjoy closing some profits for now. GLIYF


Always solid ta mate

God dayum :joy::joy: let’s go

Spot on! The price has been heading towards your TP with good momentum. Please keep us updated if anymore opportunity comes. Thanks in advance.

Awesome trade. Let’s hit the 2nd TP too.

GJ has had its fun now it can re-trace a bit please to pull me out of the doggy doo

GJ is a force when it goes like this.
Very nice trade for all those who caught it.
Expect to see a pull back in the week ahead

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They dont call it the beast for nothing lol but agree so many pairs including GJ are over stretched and need a pullback

Good morning all, GJ has been great to us on the last few trades we have taken from it. Buying each time we fall back to demand has served us well. With the last position peaking at 850 pips, I closed the remainder of my positions at 758 pips when we got the doji daily candle, low and behold price still continued to rise. But nothing to complain about here. So what’s next, we it looks clear the bull is here to stay and I think we are just getting a pullback in price. So I will be looking to buy if price gets back to the demand area shown on the chart, with a confluence of the moving average for support it should be a nice area to buy in again. mark up your charts and keep watching for price action in that area. GLIYF


If the price comes back and produces a bullish reversal, it would be a good setup to go long. I am going to keep an eye on this chart to go long as well. I will keep you updated.

I’m happy for GJ to go on a bull run now. That little pull back got me out of all my sells :slight_smile:

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Same here. All my GJ trades closed out :slight_smile:

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Good afternoon all, markets open again tonight so thought I would look at my favorite pair GJ again. End of last week news made GBP very weak, as such we saw price drop right through the demand zone and not providing any trading opportunity for us. It look’s to be coming right down to the bottom side of the big bullish channel we are trading inside. It could co inside with re test of the break of the previous small downtrend in the channel for a move back to the upside. Keep watching for support to form around the trend line area before entering. As it may also be possible for price to break and visit the stronger demand zone below. Hope everyone has a good week ahead. GLIYF

The trend line is my target for support, dont think GBP will be that weak to drop much further

I think it will start to rise again. Only dropped cause the BOE interest rates didn’t go up. A interest rate rise is still coming so price will go up again in anticipation…

That trendline looks to be a very strong one. If the price produces a bullish reversal at the trendline’s support, the buyers may push the price towards the North. I look forward to going long at the trendline’s support as well upon getting a bullish reversal pattern.

Looks like there was a reaction followed by a single candle undoing that up move. Hard one to call.

yeah looking good still feel we could come back down to the 149 level again before another push off

but it would need to break the low of my grey
box first

The price had a bounce at 152.500 area twice. At the second bounce, it produced an Inside Bar. It is not a strong bullish reversal candle. However, considering the fact that the price had double rejection, thus the buyers may go long above the last swing high at 154.700.

It is time for it to start rising again now. I wouldn’t risk another sell…