Yeah it has to come down sometime doesnt it just waiting for structure to show a nice reversal is in place then ill be looking at a sell for sure on UJ
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Yeah that’s one crazy weekly candle this time round. Looking to jump on the sells again from Monday.
Big drop coming for sure
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I think so too
159.900 is where I am looking fo next trade on GBPJPY, expecting a little beak and retest to continue the sell down to 157.600
I like that level too. I can see some potential for a reaction
The pair had a strong bearish day today. If the candle closes as a bearish Marubozu candle, the price may head towards the South. The level of 156.650 may hold the price as a level of support.
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I can see some strenghth coming into JPY. It is due a retrace and this looks like a short is coming too
Looks like we could see some continuation downwards as we go into the new trading week - finally looks like Yen is picking up some strength.
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And GBP is not looking strong either
The daily chart shows that the price still has enough space to move towards the South. The Bear may continue its move towards the level of 151.000.
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Yea there is no solid turn around as of yet
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Ill be waiting until i can see one, so volatile atm
We’ve had a nice pull back, but I have a feeling we will see this pair rally higher in the coming weeks. The Yen does not seem to be the safe haven it once used to be
Last Friday’s candle came out as a bullish candle. The sellers may wait for the price to find its resistance and produce a bearish reversal candle to go short in the pair again. The level of 159.600 may work as a level of resistance and drive the price towards the South.
Good morning all. Going to try a trade here on GBPJPY . I still think it’s possible we may move lower. So i’m going top try a sell to buy here from this zone. Look’s like a break and retest, find price in a nice supply zone currently so we can get a fairly tight SL on this setup. First target is the demand zone below for a 4:1 R:R, second is the next demand zone below that one. ideally knock down to the 4H timeframe for an entry today, look for some signs of resistance before entering, as it is possible that the previous touch in that demand zone below is causing price to continue bullish . Will update again in a few days. GLIYF
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The pair may end up producing a Head and Shoulder here. There is a level nearby, which may hold the price as a level of support (159.00). A breakout may drive the price towards the downside. However, if the price is held by that support we may see a Head and Shoulder.
Just so difficult at the moment with JPY pairs. Ill be keeping a close eye on this
Good morning all, just a quick update today on the GBPJPY trade taken. If you went in with me at the last time I posted the setup we have had some significant movement. We saw price drop from the supply zone as expected and since we have had a re visit to the supply zone . Price looks to be respecting the bearish trend creating lower high’s, we just need to push lower now for the next lower low. Currently sitting at 275 pips in profit which is just over 1:4 R:R. As always secure some profits either moving your SL to entry or inside profits, or closing some of your position. Will update again in a few days. GLIYF
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Very nice mate keep it up. We all appreciate your work