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Gbp-jpy

GBP/JPY Outlook (8 July 2022)The GBPJPY had been trading between the 162 and 165 range, due to the USDJPY and GBPUSD trading within their own wide price range. As discussed in the GBPUSD analysis, the outlook for the UK looks bleak, with price of the GBPUSD trading below 1.20 and further downside expected, the GBPJPY could be taken with it The aggressive approach would be to look for selling opportunities if price closes below 162. Alternatively a safer trade, would be seek a selling confirmation only if price breaks below 0.61. Significant volatility is to be expected below 161, with the next key support level at 157.00
Short
by JinDao_Tai
1
GBPJPY on a retracement move 🦐GBPJPY on the 4h chart is trading bear to the recent highs. The price after another long bullish impulse might be looking for a retest of the support area at the 0.382 Fibonacci level. How can i approach this scenario? I will wait for the EU market open and search for a break of the support. In that case, i ll be looking for the Plancton's strategy to set a nice short order. ----- Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Short
by InkyGrip
8
GBPJPY on a retracement move 🦐GBPJPY on the 4h chart is trading at the recent highs. The price after another long bullish impulse might be looking for a retest of the support area at the 0.382 Fibonacci level. How can i approach this scenario? I will wait for the EU market open and search for a break of the support. In that case, i ll be looking for the Plancton's strategy to set a nice short order. ----- Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Short
by InkyGrip
20
GBPJPY Weakness -- is this the End of the Monthly Trend?We are getting to the end of a monthly elliot wave cycle and I am expecting a reversal and distribution pattern to play out. I am not going to try to catch the very top but wait for a stop loss hunt/UTAD to play out. I do think we should see exhaustion of buyers soon. The peak in volume and evil wick we got recently I am taking as a sign of weakness, buyers stepped in but volume is diminishing and diverging with price since then.
Short
by b0_b0
3
GBPJPY Sell opportunityThe GBPJPY pair has formed an Inverse Head and Shoulders pattern (IH&S), which is typically a technical Bearish Reversal formation. The Double Top initiated the first wave down, where all candles got contained above the 1D MA50 (blue trend-line) causing a 0.5 Fib rebound. Now the formation may see the second wave down. If the Support Zone breaks, we expect a 1D MA200 (orange trend-line) test. A 1D candle close below should be enough to finally test the Higher Lows trend-line for the first time since March 08. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
Short
by TradingShot
6