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Intraday bias in GBP/JPY remains on the upside for the moment. Current rise from 125.67 is part of the whole rally from 118.82 and should target 133.48 resistance and above. On the downside, break of 130.45 minor support is needed to signal short term topping. Otherwise, we'll stay cautiously bullish even in case of retreat.
In the bigger picture, at this point, we'd like to maintain that price actions from 116.83 (2011 low) are corrective in nature so far. Rise from 118.82 could be the third leg of the pattern from 116.83 and might target 133.48 and above. After all, the likely scenario is that we'll see more range trading between 116.83 and 140.02 (50% retracement of 163.05 to 116.83 at 139.94) ahead, before an eventual downside breakout. We'll favor this view as long as 140.02 resistance holds.
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Support: 131.20
Pivot: 132.14
Resistance: 133.09
trendspotter buy
7 day average directional indicator buy
10-8 day MA hilo channel hold
20 day MA VS Price buy
20-50 Day MACD oscillator buy
20 Day Bollinger Bands hold
Technical Analysis For GBPJPY 60% Buy
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The bearish still can move(4h tf). On my see bearish still can nice play as long as the seller still move bellow that strong resistance 132.78. So, I see that 132.78 can be set as a SL for Sell OP then
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as we can see from the hourly chart , the pair has failed in breaking the resistance level of 130.00 and bounced from it , so the down trend is expected and the pair maybe head to 129.60 then 129.20
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GBP/JPY lost some upside momentum but still, with 130.45 minor support intact, further rally is expected. Current rise from 125.67 is part of the whole rally from 118.82 and should target 133.48 resistance and above. On the downside, break of 130.45 minor support is needed to signal short term topping. Otherwise, we'll stay cautiously bullish even in case of retreat.
In the bigger picture, at this point, we'd like to maintain that price actions from 116.83 (2011 low) are corrective in nature so far. Rise from 118.82 could be the third leg of the pattern from 116.83 and might target 133.48 and above. After all, the likely scenario is that we'll see more range trading between 116.83 and 140.02 (50% retracement of 163.05 to 116.83 at 139.94) ahead, before an eventual downside breakout. We'll favor this view as long as 140.02 resistance holds.
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GBP/JPY
SELL
ENTRY :- 132.220
TP1 :- 131.555
TP2 :- 130.892
SL :- 133.555
Do not enter any Order never reverse trend
Define TP &SL IS VERY Important
This is just a sign could have been right or wrong so be warned
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GBPJPY break higher. Observe the strong resistance at 133.49. An hour support can be found at 131.26. Another support is at 130.46. GBPJPY has broken the long-term declining trendline, which calls further strengthening the medium-term. Next resistance is at 140.03.
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Support: 131.10
Pivot: 131.92
Resistance: 132.74
trendspotter buy
7 day average directional indicator buy
10-8 day MA hilo channel hold
20 day MA VS Price buy
20-50 Day MACD oscillator buy
20 Day Bollinger Bands hold
Technical Analysis For GBPJPY 60% Buy
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This pair on still sideways till now. Price on still move slow near that pivot 131.61. So just wait and see. And then of course, we can plan for sell OP here then . if price was can move bellow that pivot 131.61 (with supported by strong bearish candle, then).
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GBP/JPY
SELL
ENTRY :- 131.720
TP1 :- 131.139
TP2 :- 130.560
SL :- 132.885
Do not enter any Order never reverse trend
Define TP &SL IS VERY Important
This is just a sign could have been right or wrong so be warned
