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Attachments: GBP/JPY
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GBP/JPY

Quoting msniper
chart suggest that we will have a bounce in 134.50 134.70 area even if the trend is down this bounce should be good at least 300pips {image}
Yep, seems that is where the fib on the daily and the fib Ext is sitting at too. Just have the 100 moving average to contend with. But with the speed of this decline, there is also a poss that it can go with the full daily retrace that has taken 3&1/2 months to get up there. Down is often quicker than the rises...
I'm expected GJ still continue down. Need to wait the retracement first.
onetarmizifx copytrading at octafx
onetarmizifx Return This Month: -72.2%
this is my final view for GJ

i am expecting a retrace to near 139 area then resume down trend again to 132 to 134 area and then new rally to 142 and beyond

am gonna stick to this plan and wont change
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Quoting onetarmizi
I'm expected GJ still continue down. Need to wait the retracement first.
Yes. But I don't see it will be as high as 144 though. But who am I...
Quoting msniper
this is my final view for GJ i am expecting a retrace to near 139 area then resume down trend again to 132 to 134 area and then new rally to 142 and beyond am gonna stick to this plan and wont change {image}
HAHAHA. mate, I love your approach. Stick to the plan. Just be careful... and I think, though, that your plan is good.
From Friday's bank of America News...

0815 ET - Bank of America maintains its view that sterling is effectively trading like an emerging market currency following its recent volatility and expects further big swings before the Brexit transition period ends on December 31. "Our concerns for Brexit complacency has been borne out by recent price action and we see further GBP downside and higher volatility," BofA analysts says. The U.K. government's plan to override parts of the Brexit withdrawal agreement is "surprising and unwelcome" news for the pound, they say. The analysts say they are hedging against expected sterling weakness through a short position in the pound against the safe-haven Swiss franc. ([email protected])
When the daily 100 sma breaks, convincingly, my plan will be short to 128.

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its all just one persons opinion....
i think will drop for bit still... there nice confluence of support : Mounthly S3 @ 134.54 + 70.7% @ 134.89 + Mediam Line @134.77
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Short @135.41. TP 135.20
Will it breack up?
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GJ is not good to buy even if it goes up its a chance to go short

target 133 or even lower

as long we below 138 its for short
Quoting msniper
GJ is not good to buy even if it goes up its a chance to go short target 133 or even lower as long we below 138 its for short
Agreed, waiting for 137.20 area to short after confirmation on smaller TFs
That's s nice little 15M head and shoulders there,, so it might go down a little from here, then up to take the 23 Fib... and boom baby...
Well, it's off to bed for me. Night,ye-all.
Quoting LuckyPunk
i think will drop for bit still... there nice confluence of support : Mounthly S3 @ 134.54 + 70.7% @ 134.89 + Mediam Line @134.77 {image}

Are now on the target.. i assume there will be other consulidation perido...
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Tough pair to trade, requires a lot of patience.
Quoting IveGotQuads
Tough pair to trade, requires a lot of patience.
Haha... you just need the right kind of pills.... the Karmo pills...lol.
So finally... there is a head and shoulders on the 1 H. Hopefully will have a nice direction coming...
Hello People,

I still see downtrend towards 134.69 possibly to a 134.00 considering the fact that it's last day of the week and by looking at the weekly candle.

Just my two cents.
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Possible Retest to 135.60 zone
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If the wedge is not broken, I do not rule out the possibility of a move above 136. In fact, i think we can see this pair touching 137.4 (highest) before another leg lower.

What do you think?


Stay healthy and safe and have a great weekend ahead.
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