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Gbjpylong

GBPJPY possible sell & buy zone!GBPJPY (4h) had a strong liquidity grab on the last day of the last trading week giving us a possible pathway to buy and sell. As the weekly close, our price has formed a weekly doji just above a weekly resistance zone. From a daily perspective, we see GBPJPY has also grabbed liquidity from the support zone creating a lower high on the daily. From the 4H perspective, we could potentially see a retest of the previous resistance zone @ around 168.31. Upon rejection, we may see GBPJPY drop to the support zone @165.766, which is also daily support. A possible bounce from this level is expected to create a long-term upward channel. Therefore, upon price action confirmation, we could find bullish and bearish trade as sketched in the chart. Smash that like button if you find value in the analysis.
Long
by ForexWizard01
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
GBPJPY > Strong Support for A Strong Buy!Analysis on #GBPJPY The market may soon test my strong support zone where the market previously shows bullish behavior and moved to the upside, also where a bullish harmonic ABCD pattern may complete soon If the market comes and tests my support zone I will then drop a one-time frame look for a buy reason to get in a buy trade with a good risk to reward. like and comment will be hugely appreciated, thank you so much for your support. Check today analysis below⠀ >>“ insanity doing the same thing over and over again and expecting different results" -/einstein
by TheTradersAvenue
11
Institutional buy on GBP JPY/ order blockIf you know about institutional candles this is something to look for, daily uptrend but finding some weekly resistance at the highs. Last week closed doji so we could have a final push up to take out previous highs before swinging back down. Institutional candle = trapping sellers on the wrong side of the market before a strong push in the opposite direction (up) - Banks loaded up on shorts at the institutional candle (IC) highlighted, then hedged up on even more buy orders at the candle low causing the market to rocket. When they take profits at the highs, it causes price to retrace to the IC where the banks will mitigate their short positions at a small loss / break even. This causes the market to shift once again in the bulls favour. This is sometimes called an order block as the orders are locked into the market and if the market should continue up, the price is 'blocked' from breaching the level. If it does break then it becomes a breaker block and look to enter shorts at the retest of the order block. By trading this IC, it offers very good R:R as you have your stop below the wick of the IC, I recommend researching into institutional buys and pairing it with your other knowledge! Institutions don't lose in these markets! Good luck
Long
by richardli77
GJ AnalysisAnalyzing GJ I spotted a few things one being that there is an inverted 3 pin formation on the weekly timeframe. Also clear as day there is a inverted head and shoulder formed as well on the daily timeframe which I don't feel like it got it's justice YET, with that being said I see the bulls coming in and taking over. Price is in a very tough spot at the moment sitting inside of a key zone in between a bery respected psychological level and the resistance for my key zone, waiting for more confirmations. Honestly seeing that there is a pivot point on the daily makes me think we could see some bearish movement after price makes its way up some. Let me know what you think below!
by lobfxempire
2
GBPJPY 1:3 Risk RewardGBP Long Bias - LogicStrategy score shift of +14 points towards strength - Core Retail Sales m/m show better than expected changes in retail sales in the given month compared to the previous month. The index calculation does not include auto sales and fuel, which tend to be very volatile. It is an indicator of consumers spending that allows estimating the inflation level. The growth of the index can be seen as positive for the pound sterling. JPY Short Bias - LogicStrategy score shift of -8 points - Nikkei Manufacturing PMI worse than expected which reflects the business environment in the Japanese industrial sector. The indicator is calculated monthly based on surveys of manufacturing company manager about new orders, sales, inventory, suppliers and the industry outlook.The indicator growth can have a positive effect on yen quotes.
Long
by marcusraiyat
2