GBPJPY forecast 2 June 2020Hi,
as you can see GJ is at the Top to make big double top then move to the downside for minimum 350 pip and maximum 580 pips to reach the start of big impulse.
i based my analyses on Market Structure and Patterns, as you can GJ come to the top in a way of correction and it made rising wedge that indicated GJ is certainly to move to the downside.
THIS IS JUST BASED ON MY IDEA.
Gbpjpyidea
GBPJPY. Broken support level.Hi traders.
The price for the Pound is no longer supported by the support level,
this level is broken!
The price will continue to fall in the downtrend and reach the minimum values.
Good luck to you.
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This idea does not provide the financial advice.
GBPJPY Short trade opportunity! On screen analysis...Hi traders,
GBPJPY is a pair that I got on my watchlist and saw a great opportunity coming next week. I just wanted to share my trade idea with you guys.
As you can see on the daily chart, the market was in Consolidation. The Range of the Consolidation was broken on May 6th and on Friday we saw that the Neckline changed from Support to Resistance.
On the 4 hour chart you can see a Counter trend where I drew a purple trend line. A break of the trend line will give us a nice opportunity to go short on this pair.
The first target is based on a Fibonacci Retracement level of 0.618
The Second target point is the last Lower Low seen on the Daily chart
The Third target point is based on the Fibonacci Trend Extension level of 0.786
Be patient and always trade with care!
GBPJPY Up Move Rejected - Consolidation Channel Entered. SELLGBPJPY showed a sudden, strong upward move some hours back, but the upward move seems to have lost strength around the current levels of 132.950, which is a strong resistance level for the 1H chart. I see this pair now entering a consolidation channel, hovering between 132.950 and 132.750 levels. I would go short on this pair for the near term, placing a take profit level around the 132.750 levels and wait for a clear trend to show.
GBPJPY short position in near termAs can be seen in the chart, GBPJPY is not being able to sustain an upward move, and as soon as it rises, short sellers are rushing in to push the prices down. It is currently testing the current support level of 132.770 for the 4th time, so I expect it to break this support level for a move down to 132.590.
GBPJPY ANALYSISGood Morning Traders, my analysis for GJ is simple and straightforward in the sense that i'm waiting for price to close above the YELLOW ZONE and i will take a LONG TRADE towards the next YELLOW ZONE for TP1 and next YELLOW ZONE for TP2, BOTH are support zones.
EDIT: Also the Daily Support could be TP3 for 100+ pips, and if you wish to take it there, please move your Stop Loss in Profit.
If this ANALYSIS made sense or matches yours, please give it a thumbs up :)