GJI don't have to spell it out. Pullback channel (reversal), in a down trend, impulsive candles down. That's enough for me to enter and rife it but because it's Friday I won't hold for long. Not a fan of holding trades over a weekend.
D-GJ
GBPJPY Technical Analysis 12.05.2023 1h chart– Previous Daily candle closed Bearish at 168.270 respecting Daily Resistance formed on Wednesday around 170.600.
– Buys on close above 168.480 targeting 30min Resistance at 169.050, Leaving Runners to the 4h Resistance formed at 169.260.
– Sells on close below 167.860 targeting Daily previous Resistance formed on 25th April 2023 at 167.530, Leaving Runners to the 1h Support formed at 167.020.
– High Impact News ahead at the Pre London session for the GDP m/m and Prelim GDP q/q followed by few Low Impact News, High Volatility expected during the London Open.
GBPJPY Technical Analysis 11.05.2023 1h chart– Previous Daily candle closed Bearish at 169.490 forming new Daily Resistance at 170.600.
– Buys on close above 169.830 targeting 4h previous Support formed at 170.150, Leaving Runners to the recent Daily Resistance formed on Wednesday 10th May 2023 at 170.600.
– Sells on close below 169.110 targeting Daily Support at 168.740, Leaving Runners to the 1h Support formed at 168.230.
– High Impact News ahead for the Pound Sterling as Bank Of England decide on the new Bank Rate set by the MPC, News to expect as follow : BOE Monetary Policy Report, MPC Official Bank Rate Votes, Monetary Policy Summary, Official Bank Rate followed by Bank Of England Governor Andrew Bailey speech shortly after the release.
GJ BatPossible short before long continuation. I'm looking to trade the C to D leg.
Let me know what you guys think, here are my measurement based on the 4hr chart:
X - 168.040
A - 171.073
B - 169.915
C - 170.943
D - 168.391
Comments and critique welcomed!
GJI've been quiet in that I haven't posted in a while but I have been monitoring the charts. So now I would like to firstly apologise to myself for not committing and doubting the work needed to be done. Secondly, I would like to apologise to anyone that does follow me and gets any value from what I do.
This is my current vision of what I see and where I believe GJ is going. We are in the correction phase of a channel, so I will wait for a break (Violent one) downwards, a retest, candle confirmation and then enter and ride it the whole way down.
I am challenging myself to post everyday even if it is just comments and not a forecast.
GBPJPY Technical Analysis 10.05.2023 1h chart– Previous Daily candle closed Bullish at 170.600 leaving a Rejection wick to the downside as the 4h timeframe forms a new Consolidation Zone.
– Buys on close above 170.700 targeting 1h Resistance at 171.010, Leaving Runners to the 4h previous Support formed on 1st May 2023 at 171.230.
– Sells on close below 170.360 targeting 4h Support at 170.150, Leaving Runners to the 1h Support formed at 169.840.
– Overall price is consolidating on the 4h timeframe as the Monday and Tuesday Daily candle (Body) closed small Bullish with Rejection wicks to each side.
GBPJPY Technical Analysis 09.05.2023 1h chart– Previous Daily candle closed weak Bullish at 170.430 leaving a Rejection at the recent Weekly Resistance formed around 171.100.
– Buys on close above 170.560 targeting 30min Resistance at 170.860, Leaving Runners to the Weekly Resistance formed at 171.100.
– Sells on close below 170.180 targeting 15min Support formed at 169.750, Leaving Runners to the 4h previous Resistance formed on 4th May 2023 at 169.350.
– If Tuesday respect the Previous Daily High and break the Monday Daily Low there will be higher probability of price pushing futher down respecting recent Weekly Resistance formed last week.
GBPJPY 8/5/2023Price currently ranging in between the resistance at 170.856 & support at 170.185 while also forming possible uptrendline.
Now if price closes above the resistance then we can expect price to continue pushing up to the next resistance at 171.950 & if price closes below the support then price might continue to the next support at 169.426.
GBPJPY Technical Analysis 08.05.2023 1h chart– Previous Weekly candle closed Bearish at 170.250 forming Weekly Resistance at 171.070, Friday Daily candle closed Bullish forming Daily Support at 168.740.
– Buys on close above 170.550 targeting 1h previous Support formed on 28th April 2023 at 170.930, Leaving Runners to the 4h previous Support formed on 1st May 2023 at 171.240.
– Sells on close below 169.960 targeting 15mins Support at 169.550, Leaving Runners to the 1h Support formed at 169.180.
– As the previous Weekly candle high formed a Rejection there is a probability for the current weekly candle to respect the new Weekly Resistance and fill Weekly Low and retesting the Weekly Resistance formed back in December 2022.
GJ (M15) : Buy when it pullbackGJ h1/h4 is a good confirmation to buy.
So you can check it in M15 to entry like as my chart
Good luck and Can you Cheer for me, pl !
GBPJPY Technical Analysis 05.05.2023 1h chart– Previous Daily candle closed Bearish at 168.740 almost retesting the previous Daily Resistance formed last week.
– Buys on close above 168.930 targeting 4h Resistance at 169.240, Leaving Runners to the 30min Resistance formed at 169.840.
– Sells on close below 168.550 targeting 1h Support at 168.220, Leaving Runners to the Daily previous Resistance formed on 25th April 2023 at 167.550.
– Currently the Weekly trading Bearish and more likely Weekly will form Resistance with a minor Rejection wick to the upside respecting Weekly Resistance formed on 31st October 2022.
GbpJpy -> Textbook TradeHello Traders,
welcome to this free and educational multi-timeframe technical analysis .
On the weekly timeframe you can see that GbpJpy just retested and rejected a quite obvious previous weekly resistance at the 171.000 JPY level.
However you can also see that weekly market structure and moving averages are still very bullish, with last week's candle we broke multiple structure levels towards the upside and we are also currently retesting previous resistance which is now turned support so I simply do expect more continuation towards the upside from here.
On the daily timeframe you can see the exact same setup, we just recently broke above a major daily resistance level at the 168.5 JPY area which is now turned quite strong support, so I am now just waiting for some more bullish confirmation inside of this zone before I then do expect another daily rally towards the upside.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
GBPJPY Technical Analysis 04.05.2023 1h chart– Previous Daily candle closed Bearish at 169.160 respecting Daily Resistance formed on Tuesday 2nd May 2023.
– Buys on close above 169.470 targeting 30min Resistance at 169.890, Leaving Runners to the 1h Resistance formed at 170.210.
– Sells on close below 168.780 targeting 30min Support formed at 168.170, Leaving Runners to the Daily previous Resistance formed on 25th April 2023 at 167.550.
– There is still a probability for price to retest the Daily Resistance formed on 25th April 2023 correcting the Bullish move from Friday 28th April 2023.
GBPJPY Technical Analysis 03.05.2023 1h chart– Previous Daily candle closed Bearish at 170.110 forming Daily Resistance at 171.700 as price rejects the Monthly Highs formed in October 2022.
– Buys on close above 170.540 targeting 1h previous Support formed at 170.940, Leaving Runners to the 30min Resistance formed at 171.470.
– Sells on close below 169.950 targeting 1h Support formed at 169.400, Leaving Runners to the 1h Support formed at 168.770.
– There is a probability for the new Daily candle to respect Daily Resistance formed on Tuesday 2nd May 2023 to correct the Bullish move that happened on Friday 28th April 2023.
GBPJPY Technical Analysis 02.05.2023 1h chart– Previous Daily candle closed Bullish at 171.700 tapping into the Monthly Highs of October 2022.
– Buys on close above 172.060 targeting 4h Resistance formed on 4th February 2016 at 172.420, Leaving Runners to the Weekly Resistance formed on 1st February 2016 at 172.900.
– Sells on close below 171.510 targeting 4h Support formed at 171.220, Leaving Runners to the 1h Strong Support formed at 170.920.
– Despite the Daily closing Bullish there is a probability for the Tuesday Daily candle to close Bearish forming Resistance as price is trading within the 2022 Highs.
GBPJPY Weekly Analysis 1/5/2023 to 5/5/2023The price currently retesting a major high at 172.071 from 2022 & showing signs of price rejection finding resistance at that high while the price also formed a support at 171.051 on shorter TF.
So if price closes below the support on shorter tf then it might continue pushing down as a pullback to retest the next support or uptrendline at 169.229.
But if price closes above the recent high then it might continue its bullish run towards the next key level at 174.939.
GBPJPY Technical Analysis 01.05.2023 1h chart– Previous Monthly, Weekly and Daily candle closed strong Bullish at 171.070 above Monthly Resistance formed in November 2022 at 170.740.
– Buys on close above 171.230 targeting 1h Resistance at 171.640, Leaving Runners to the 4h Resistance formed on 31st October 2022 at 172.060.
– Sells on close below 170.520 targeting 15min Support at 169.850, Leaving Runners to the 1h Support at 169.410.
– Monday Bank Holiday, all UK Banks will be closed in observance of May Day.
– Learn : May Day bank holiday in the UK
– May Day bank holiday is a day for celebrating the achievements of workers and their ongoing fight for better working conditions. It is also a day for celebrating the arrival of spring and enjoying time with family and friends.
GBPJPY analysisWait for price to breakout of GJ range and look to take the trade once candle has closed outside the range.
GBPJPY Technical Analysis 27.04.2023 1h chart– Previous Daily candle closed Bullish at 166.630 forming new Daily Support at 165.860 as price respects the Daily Support formed on Friday 14th April 2023.
– Buys on close above 167.020 targeting Daily Resistance at 167.530, Leaving Runners to the 4h Resistance formed at 167.840.
– Sells on close below 166.240 targeting Daily Support formed at 165.860, Leaving Runners to the 4h and the 1h Support formed at 165.550.
– Targets for Buys and Sells are much smaller as it is necessary to adapt to the market / price action, better sells will be once price break below the Daily Rejection wicks on the left from 14th April 2023.
Todays Agressive trade on GJ i have found using the fixed volume profile and DR to be extremely effective.
the DR indicator is from @TheMas7er
