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If a M15 close above 118 buy only and do not sell. If price closes back below it again do nothing.
If a M15 close below 117 sell only and do not buy. If price closes back above it again do nothing
The range 118 and 117 is neutral area, any trade done in between is personal decision and not part of this analysis
the chart is showing that the pair is trading under level 118.00 , that's mean the down trend is standing and the pair might reach 117.00 , but if the pair succeeded in breaking 118.00 , it will head to 118.35 and then 118.65
If a M15 close above 117.35 buy only and do not sell. If price closes back below it again do nothing.
If a M15 close below 118 sell only and do not buy. If price closes back above it again do nothing
The range 117.35 and 119 is neutral area, any trade done in between is personal decision and not part of this analysis
we can see that the pair has closed it's daily candle above 118.00 . so , that's means that up trend is expected and the pair might head to 118.50 and then 119.00 ,but also the hourly correction is expected before continue in the up trend
i think GBPJPY is going to 115.35 cause this week will be full of movements and i waited this level for along time and this week is it's pest time
GBP/JPY dropped to as low as 116.83 last week and took out 118.81 prior historical low with relative ease. Initial bias remains on the downside this week with 119.13 minor resistance intact and current fall should then target 161.8% projection of 130.83 to 123.29 from 127.31 at 115.11 in near term
Another long term decline is still expected after completion of the correction/consolidation from 118.81, towards 100 psychological level.
The latest acceleration of declines has opened the door for a fresh bout of weakness to fresh record lows below 118.80
Another long term decline is still expected after completion of the correction/consolidation from 118.81, towards 100 psychological level.
we can not rule out the possibility for a drop to test this major psychological barrier before any consideration for a corrective bounce. Ultimately, a break back above 125.00 will now be required to officially alleviate short-term downside pressures.