Premium4 468x60 forex
Page 4 of 4 FirstFirst ... 2 3 4
Results 31 to 39 of 39

GBPJPY Technical Analysis

This is a discussion on GBPJPY Technical Analysis within the Forex Trading forums, part of the Trading Forum category; To trade the reversal, traders can look to place stops below this recent batch of support, with the low being ...

          
   
  1. #31
    Senior Member TechnoMeter's Avatar
    Join Date
    Apr 2013
    Posts
    1,427
    Blog Entries
    289

    GBP/JPY Technical Analysis: Bullish Harami into the Jaws of Support

    GBPJPY Technical Analysis-gbpjpy-h4-metaquotes-software-corp.png


    To trade the reversal, traders can look to place stops below this recent batch of support, with the low being 154.39, set earlier today. Traders can move that stop slightly below those lows at ~154.25 to take on approximately 80 pips of risk with current prices. Traders can then plot a scale-out approach in the effort of getting the average exit of the reversal a bit higher. The first level of interest for profit targets is at another well-tested Fibonacci level at 156.35. Should price action move up here, which would be slightly better than a 1-to1.5 risk-reward ratio, traders can begin to scale out of the lot, moving the stop to break-even on the remainder. After that, 157.21 becomes an interesting level for a secondary target, followed by 159.05 for a tertiary target.

    more...
    Trading blogs || My blog

  2. #32
    Senior Member mql5's Avatar
    Join Date
    May 2013
    Posts
    1,427
    Blog Entries
    355

    GBP/JPY M5: 159 pips price movement by Brexit Referendum Polls Open news event

    GBP/JPY M5: 159 pips price movement by Brexit Referendum Polls Open news event

    GBPJPY Technical Analysis-gbpjpy-m5-alpari-limited-3.png
    Metatrader 5 / Metatrader 4 for MQL5 / MQL4 articles preview preview
    Trading blogs || My blog

  3. #33
    Senior Member mql5's Avatar
    Join Date
    May 2013
    Posts
    1,427
    Blog Entries
    355

    GBP/JPY Technical Analysis: daily bearish trend to be continuing

    GBP/JPY D1: bearish trend to be continuing. The price is located below Ichimoku cloud for the bearish market condition: price broke symmetric triangle pattern to below for the 133.22 nearest bearish target to re-enter.

    GBPJPY Technical Analysis-gbpjpy-d1-metaquotes-software-corp.png


    If the price breaks 133.22 support level to below on close D1 bar so the bearish trend will be continuing with 128.75 possible bearish target.
    If the price breaks 143.22 resistance to above on close D1 bar so the bullish reversal will be started.
    If not so the price will be continuing with the ranging within the levels.
    Metatrader 5 / Metatrader 4 for MQL5 / MQL4 articles preview preview
    Trading blogs || My blog

  4. #34
    Senior Member TechnoMeter's Avatar
    Join Date
    Apr 2013
    Posts
    1,427
    Blog Entries
    289

    GBP/JPY Technical Analysis: Post-Flash Crash Channel

    In the week since that last article, volatility in GBP/JPY has tamed a bit as a ~200-pip range has developed. This range can be seen as an upward-sloping channel that has a slightly bullish bias; with slightly higher-highs and slightly higher-lows. This is somewhat indicative of a market without significant conviction; and as we discussed last week this is likely resultant from the fact that both currencies are being or have been driven weaker by extremely dovish monetary policy. In the U.K., the Bank of England has already launched a ‘bazooka’ of stimulus and there is the thought that more accommodation may be coming as ‘Hard Brexit’ appears more likely. And in Japan, the Yen has seen continued resistance as markets factor in the probability of even more stimulus at some point in the future.

    GBPJPY Technical Analysis-gbpjpy-w1-alpari-limited.png


    The price action channel that has formed over the past week can be dangerous given the fact that ‘longer-term’ support and resistance in the channel is more than 200 pips away from support or resistance. So for the trader looking to buy support in the channel, they’d likely want to look at stops below the ‘flash crash’ low of 125.00. And on the converse, for traders looking to take short positions off of the resitsance portion of the channel, this is would be more than 150 pips away from the ‘big picture’ resistance level at 130.00.

    And given GBP/JPY’s traditional propensity to be a ‘big mover,’ traders would likely want to continue to move forward with a great deal of caution; being extremely picky on entries. For short-side strategies, this could be resistance from the zone between 129.25-130.00. And for bullish approaches, support developing above 125, and perhaps more attractive, support developing at or above the 126 handle that saw a brief higher low last Wednesday, could open the door for top-side approaches. At the very least, with such an approach of prudence traders will be able to control the risk on the entry as opposed to being in a position in which they have to take a wide-stop on a volatile pair that’s in the brief lull of a range.

    more...
    Trading blogs || My blog

  5. #35
    Senior Member TechnoMeter's Avatar
    Join Date
    Apr 2013
    Posts
    1,427
    Blog Entries
    289

    GBP/JPY Technical Analysis: Will 140.00 Bring On the Higher-Low?

    Price action has been unable to find solid-enough footing to move back into that bullish trend; and given that this retracement has now moved by more than 800 pips, traders are likely going to want to continue proceeding with caution in GBP/JPY.

    GBPJPY Technical Analysis-gbpjpy-d1-alpari-international-limited.png


    The psychological level at 140.00 could be interesting as ‘higher low’ support; but traders are likely going to want some additional confirmation before trading on this thesis given that price action had just set another ‘lower high’ earlier today. If price action can break above this swing-high around 141.50, bullish continuation strategies could become attractive gain.

    Conversely, a deeper support test could open the door to short-term bullish reversal strategies in the direction of the longer-term trend. Potential support at 138.67, which is the 38.2% retracement of the most recent major move in GBP/JPY (taking the October 2016 low to the recent swing-high), and again at 135.65 (the 50% retracement of that same move), could open the door to such an approach.

    more...
    Trading blogs || My blog

  6. #36
    Senior Member TechnoMeter's Avatar
    Join Date
    Apr 2013
    Posts
    1,427
    Blog Entries
    289

    GBP/JPY Technical Analysis: Roaring Back to Life

    This developed into a drop of over 1,200 pips in the following month, and this led to many questions around the sustainability of the up-trend in GBP/JPY. But after catching support at the vaulted 50% level of that most recent major move (taking the post-Flash Crash low up to the December high), hope was restored that bulls may be able to re-take control of GBP/JPY price action. In our last article, we marked the level at 142.50 as significant, as this is 50% of the retracement move as well as being a psychological level. The fact that we were able to drive over this level indicates that bull may be able to continue driving prices higher, and this opens the door for bullish strategies.

    GBPJPY Technical Analysis-gbpjpy-h4-metaquotes-software-corp-9.png


    Given recent technical structure, there are three significant areas of price action swings for traders to investigate for support variable and stop placement, each outlined on the chart below. For traders looking at aggressive entries, a batch of support around the prior swing of 141.70 could be usable. For those looking to give the entry a little more ‘room to work,’ the zone around 140.75 looks more operable. And for those that want a conservative approach, the back of support around 139.00 could be attractive as this could get risk levels below the significant psychological level of 140.00.

    more...
    Trading blogs || My blog

  7. #37
    Junior Member
    Join Date
    Oct 2016
    Posts
    28
    Hello TechnoMeter, I just stumbled on this thread and have read it with interest.
    Do you still trade the GBPJPY or only provide analysis for it?

  8. #38
    Administrator newdigital's Avatar
    Join Date
    Feb 2013
    Posts
    8,763
    Blog Entries
    943
    Follow newdigital On Twitter Add newdigital on Facebook Add newdigital on Google+ Add newdigital on MySpace
    Add newdigital on Linkedin
    Breakout Systems (indicators and the EA) from premium section -

    GBPJPY Technical Analysis-wwww222.png
    Premium Trading Forum: subscription, public discussion and latest news
    Trading Forum wiki || Social networks for the forum
    Trading blogs || My blog

  9. #39
    Senior Member TechnoMeter's Avatar
    Join Date
    Apr 2013
    Posts
    1,427
    Blog Entries
    289

    GBP/JPY Technical Analysis: Double-Bottom, Meet Double-Top

    The price in question is 148.29, and this is the 61.8% retracement of June to December, 2016 major move in the pair. Perhaps most importantly, this price had helped to set resistance for almost ten full months in GBP/JPY. Prices turned-around here in mid-December, and again in May as GBP/JPY put in a peculiar period of price action. This pair is often trending or moving in somewhat of a directional manner: But it’s also notorious for being wild and chaotic. The fact that the first nine months of this year were so seemingly quiet in the pair is something that deserves attention, as we may be on the cusp of some brutal movement, in one direction or the other.

    GBPJPY Technical Analysis-gbpjpy-h4-alpari-international-limited.png


    We have yet to see GBP/JPY embark on a directional movement since that initial September breakout. Price action has been bound between support of 146.94 and resistance of 152.86 for more than two-and-a-half months.

    more...
    Trading blogs || My blog

Page 4 of 4 FirstFirst ... 2 3 4

Tags for this Thread

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •