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Gbpjpyoutlook

GBP/JPY SHORT IDEAIdea for educational and study purposes. Trade at your own risk. GBP/JPY has been in a very strong bear market over the past couple of weeks, with price reaching lows since March 2018; sentiment toward this market is very bearish. Price continues to fall well below the 50 MA. As price reaches a new low it has tested previous support. The Stop Loss is placed at the 38.2% fib level, which price has retested most recently on more than one occasion. Price broke through the last significant level of support, and is making moves toward the next level. The next major area of support is around 144,450. I anticipate price to continue it's bear trend toward this low before retracing to test the previous low. Price is also being contained in a descending channel, with lower highs and lower lows.
Short
by mrsceleste
GBPJPY Short opportunityHi Seildev here. Area of interest 143.443 ~ 144.000 for short term sell (next week or two). And at 140.65~ 140.9 we'll be looking for a buy again. - Fib at 50% @ High 10th/May/17 and Low 14th/Apr/17 - Another 50% Fib @ High 31st/May/16 and Low 7th/Oct/16 - Forming a classic ascending triangle - Structure shows 143.75 to be a key level that acted as support and resistance in the past Trade target 1 @ 142.53 Trade target 2 @ 141.558 Safe trading everyone
Short
by seildev
GBPJPY: Great 400 PIPS potential with a weekly outlookMy bias for this pair is short since it's in an overall downtrend at the moment and a rejection of the 61.8 fib would confirm further downside, however a break of the 144 resistance with trendline break would turn my bias bullish as illustrated on the chart. I'll be waiting to see how it reacts to the 61.8 fib , in the bigger picture I'm expecting a rejection of the 61.8 fib which would most likely give us a huge downside of 400 PIPS! In the nearest future the market may continue moving downwards to reach the 140.6 level and then start a new bullish correction. I haven't added any SL levels since you are better of by creating your own depending on the R/R ratio at the time you buy. Keep in mind that the Japanese yen related pairs tend to be very risk sensitive. This is probably one of the most risk sensitive pairs, so having the stock markets rally simultaneously is a huge help for this market which can move 100 pips in the blink of an eye.
by cyrex
4
GBPJPY LONGThe reason why we feel GBPJPY may RISE. * On weekly basis it has just started moving UP. * To RISE and come near 164.86 levels * Stoch RSI (3,3,14,Close) is Rising. * RSI (14,CLOSE) is Rising. * CCI (20,CLOSE) is Rising. Keeping all the above indicators in view along with the chart pattern we expect it to Rise. Our Buy call shall be from Buy above :163.29, SL:162.85 Tgt 01: 164.37, Tgt 02: 164.86, Tgt 03: 166.35. The view expressed here is on weekly basis. [b ]Caution: The above is our personal view. Neither a recommendation nor a tip nor an advice for trade. Please consult your personal financial advisor before investing.
Long
by ajithchand-bhandaari
GBPJPY SHORTThere are many reason why we feel it may SINK * It has not sustained quarterly ..... level. * BEARISH in WEEKLY Chart. * ToSINK and come near 157 monthly target 03 * Stoch RSI (3,3,14,Close) clearly states it may sink. * RSI(14,CLOSE) Is also of the same view. * CCI(20,CLOSE) Is not clear Keeping all the above indicators in view along with the chart pattern we expect it to sink. but as the market is well bellow our sink level we can expect a quick bounce back. Our sell target shall be 159.79 , 158.04 with a SL @: 162.14. We are expecting this to happen shortly. Caution: The above is our personal view. Neither a recommendation nor a tip nor an advice for trade. Please consult your personal financial advisor before investing.
Short
by ajithchand-bhandaari
GBPJPY LONGGBPJPY is expected to rise now. There are many reason why we feel it may rise. 01. It has not sustained quarterly buy level. 02. BULLISH Engulfing pattern in daily Chart. 03. It has gone way below the quarterly Low target. and chances are bright it may touch 190 very soon 04. Stoch RSI (3,3,14,Close) is not clear. 05. RSI(14,CLOSE) Is rising. 06. CCI(20,CLOSE) Is rising. Keeping all the above indicators in view along with the chart pattern we expect it to rise. Our buy call shall be from buy above : 168.72 with a SL @: 167.66 Tgt01: 171.54 Tgt02: 172.71 Tgt03: 176.34. We are expecting this to happen shortly. Caution: The above is our personal view. Neither a recommendation nor a tip nor an advice for trade. Please consult your personal financial advisor before investing.
Long
by ajithchand-bhandaari