SubscribeIntraday bias in GBP/JPY remains mildly on the downside for 123.29 support. Break there will confirm resumption of the whole fall form 140.02 and should target 122.15 support nex
Thread: Gbp/Jpy
Intraday bias in GBP/JPY remains mildly on the downside for 123.29 support. Break there will confirm resumption of the whole fall form 140.02 and should target 122.15 support nex
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the pair has succeeded in closing it's daily candle above level 124.00 , and that's mean the up trend is still standing and the pair might head to 125.00 and then 125.50
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we'll continue to stay bearish as long as 130.83 resistance holds and expect an eventual downside breakout.
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If a M15 close above 125 buy only and do not sell. If price closes back below it again do nothing.
If a M15 close below 124 sell only and do not buy. If price closes back above it again do nothing
The range 125 and 124 is neutral area, any trade done in between is personal decision and not part of this analysis
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today we will see test for 123.00 and then look to daily close if close under this strong support we will see new level for jpy if can't and back from this level we will buy with small stop 40 pip
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the pair and as we can see from the chart has closed it's daily candle under the level of 125.00 , so , that's mean the down trend is still standing and the pair is heading to 124.40 then 124.00
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Focus is on the range low and a break would shift focus to trendline support. However, like other Yen crosses, the last several sessions reveal key reversals so we could get a violent rally from here through 12840.
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we sell when this trend broken
because it will lead the price down strongly , and we can take this chance
lets watch how the price will handle this trend
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If a M15 close above 126.00 buy only and do not sell. If price closes back below it again do nothing.
If a M15 close below 124.00 sell only and do not buy. If price closes back above it again do nothing
The range 126 and 124.00 is neutral area, any trade done in between is personal decision and not part of this analysis
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
Two day rally attempt appears to have failed as bears return. Below 124.50 risks further weakness to 124.00 next followed by a re-test of the 10 Aud low at 123.30. Only above 126.60 offers a reprieve for bulls.
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