Can’t go wrong buying GBP I reckon.
Last trading day of the week today, unfortunately ending it with a SL hit on GBPJPY . But that’s ok as I knew it was a trade on the riskier side of things. Ideally it is usually better to wait for a deeper retracement in the pullbacks, but with JPY pairs you can never really tell as they are a risk on/off asset, so unless you try your idea’s you will never really find out. That’s where our risk management comes in to play. Anyway on to the next setup. The next point of interest is at the demand zone here which pushed through previous supply. With a confluence of the moving average for dynamic support, we could look to possibly buy from this area. Wait for our signal candle first as always, as it’s still possible we could re visit the big demand zone below to complete the M pattern. Will update again once the position becomes viable GLIYF
I should just keep my mouth shut
Big selling candles right now, the bottom is lloking likely
Im watching this pair closely too. Its in a nice area to take a trade towards the end of the week.
I got my eye on that 150 buy level now
Any of the next trades triggered?
You still trading this pair mate ? Got a short position open on it myself wondering what you’ve been trading.
Good morning all i haven’t had a trade on GBPJPY for a short while, for multiple reasons. Watching other pairs more and waiting for it to come to an ideal price point also. As you can see we have broken through the trend line and touched down at the demand zone below which we got from one of our last trades. With the situation with Russia still ongoing I think JPY will continue to be stronger and therefore see further downwards momentum. Ideally I would like to see price visit the bigger demand zone lower down. But if price looks to be finding support at the first demand zone then i will look to take the trade there also. Patience with these setups, let price come to us then trade. GLIYF
Can’t see it rising again until the Russia issue goes away…
I am going to wait for the price to reach at the last swing low. The first marked support zone looks good but the way the price has headed towards the South, it may not hold the price. A double bottom may make it a different ball game. Let us wait and watch what happens.
Good morning all, it’s been a while since we have had a trade setup on GBPJPY . But it may take a while to get to my most favorable place for a position long term so i am looking at this short to medium term trade of a sell. We can see rejection from yesterdays candle so id like today’s candle to rise in price a little more to get a rejection from the area around the moving average. Price look’s to be making a lower high currently so it makes for an ideal sell here in the current trend. Maybe move down to the 4H chart to get a quicker entry into the trade. TP zones are easy targets, first being the demand zone created on the last low, and second being my long term target buying area. Low risk on this one all GLIYF
It is a confluence level of resistance. The down trending trendline’s resistance along with horizontal resistance may attract the sellers to go short in the pair if the chart produces a good bearish reversal pattern.
Surprised it’s gone up that far tbh, should be ok here
JPY is so affected by fundamentals with being a safe haven its key to watch it closely for sure
About time JPY showed us some strength. Been unusually quiet given the geopolitical climate.
I have this marked as a sell on my charts
Looks like this will be ready for a short position soon mate going to be looking at getting some in at the start of the week.
Good morning all, from my recent video on YT i was looking at GBPJPY for this possible setup. No we find price has moved up to the supply zone . This is a major area of interest, as we look to the left we can see what has happened to price in the past, we have had some decent drop to be taken advantage of. I will be watching price today and if this supply zone holds then i will take a sell back down. We have some clear TP zones to aim for. If price breaks through then the dynamic changes and we also have some zones mapped out to buy from on any pull backs if the bull run is going to continue. Should be easy to take we might even have to go down to the 4H chart for an entry as I have a feeling it may drop before the days end. GLIYF
The marked level is a strong level of resistance since the price had rejection at that level twice. A bearish reversal pattern may drive the price towards the last swing low. I am going to keep an eye on this to go short as well.