GBP/JPY - The Massive Opportunity Most Traders Will Miss!Welcome to today’s market analysis with Mr. Blue Ocean FX! It’s Sunday, January 12, and while the markets are closed, we’re diving into a detailed look at GBP/JPY and the huge opportunities it presents.
Key Highlights:
• Starting on the monthly time frame , we’re observing a ranging market , with higher highs and lows suggesting an overall bullish trend. However, signs point to potential lower prices ahead due to key liquidity levels being tested and rejected.
• On the weekly time frame, a double-top formation near the 199 area hints at bearish pressure. Key neckline support sits around 190, which, if broken, could open the path to targets at 173 and 163.
• Scaling down to the daily and H4 time frames, the market is consolidating, and liquidity sweeps or retests of significant levels could offer high-reward trade setups. We’re also watching for rejection at key resistance levels before potential further downside.
• Key Trading Tip: Markets range 75-80% of the time—recognize these opportunities to trade within consolidation zones!
Trade Setup:
• Watching for lower-high formations or liquidity sweeps to confirm entries.
• Stops will be placed above key resistance levels, with potential short-term targets at 190 and longer-term targets at 173 and 163.
Stay disciplined: “Don’t chase the falling knife!” Always wait for pullbacks or retests to maximize risk-to-reward.
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Happy trading and see you next time!
