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Gbpjpysetup

GBPJPY Bearish Idea (D1 Timeframe)In the few days, we have seen some JPY strength! Some pairs with JPY as secondary currency were in a bearish trend for the last few days, a good example of them is CADJPY and EURJPY! The same scenario we can see in GBPJPY! Currently, this pair is in a bearish/downtrend structure. Not just that, on a daily timeframe, we can see that price is at 78.6% Fibonacci retracement level! Even though the Friday daily candle indicates that still bulls are powerful but Monday price action on a lower time frame i.e. H1 and H4 will play a great role to determine the direction bias on this pair! As far as higher timeframe goes there's a possibility that we might witness some GBP weaknesses in the coming week!
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by lodrickthomas
GBPJPY AnalysisLooking at the weekly timeframe, GJ has been in a flag correction since the beginning of May, following a very strong impulse from mid March this year. Price has given us 3 touches on our resistance trendline confirm that price is respecting it. price has since fallen off this 3rd touch (as seen on the chart above). We were in a correction phase until price broke out with great momentum (represented by the length of the candles on H1) but was also quick to reverse back into the correction pattern. However, on the H4, its not really final as to what price wants to do. Im waiting for either a daily candle close or H4 close to support my bias. Overall I am anticipating a fall in GJ. *Disclaimer* This is not financial advice. Forex trading is a risky business. Trade at your own risk. Patience and risk management are crucial. #Trade_Like_A_Magnate
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by Magnatrio
GBPJPY H4 TIMEFRAME ANALYSIS (SELL)As you may see on the chart the price is trading below the trendline which means that the trendline breakout has already happened and the price is ready to trade in the downward direction.in addition to that the parallel channel/equal-distance channel is pointing downward as a sign of a major trend reversal. Our aim is to capture the beginning of a new downward trend and that is what we want because it is where the smart money is made. The GBPJPY seems to change its trend direction so we join in early before others notice it. The entry and exit levels have been indicated on the chart. The major key levels have also been drawn on the chart. This is more than an institutional analysis. We know what we are doing and we do what the market is doing. If you have any idea be free to add it in the comment area. Otherwise, invest wisely. Wish you more success.
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by Piptera-Digital-Solutions