GBPJPY

be careful not to get fooled into selling...

unless last week low is broken (even so, it is most likely a false break)...

safest choice wait for pullback around 143.80 and 144 maybe even 144.xx to catch better selling entry signal

I noticed 142.200 is major support. I will upload the chart.

Im short per the swamp thread and my all time target is 139 but ill nevet hold it that long to get thete but ill keep selling bounces lol

Can you share your chart.

Its on the swamp thread

GBP/JPY Weekly Price Forecast – British pound falls for the week

The British pound fell hard during the week, after initially trying to rally to reach down towards the ¥142.50 level. This is an area that has been supportive in the past, so it makes sense that we saw a bit of buying pressure in this region. However, it’s very unlikely that we will be able to do so unless we get some type of good announcement of the US/China trade relations, I think it’s good to be difficult for more of a “risk on move” which of course would signify the British pound going higher against the safety currency of the Japanese yen.

If the market were to break down below the bottom of the weekly candle stick, or just simply the ¥142 level, I think we are more than likely going to go down to the ¥140 level. This will more than likely be a scenario where the US/China trade talks have fallen apart, and the markets find themselves freaking out and looking for safety everywhere. At that point, I’m not even sure if the ¥140 level would hold. We could very easily see a bit of a market meltdown if things get ugly enough.

That being said, if we get good news out of the trade relations talks, then we can start to focus on the good economic numbers out of the United Kingdom that came out on Friday. That should send this market looking towards the ¥145 level initially, possibly even higher than that. One thing is for sure, things are about to get very volatile.

This article was originally posted on FX Empire
https://finance.yahoo.com/news/gbp-j...html?.tsrc=rss

Entry based on a price action reversal I have been backtesting over the past week and have decided to take this opportunity to test in the live market. Crimson lines represent the three targets. Black lines/grey areas are recent long term Daily Support resistance, I only look for the setup on the 1HR/4HR based on Daily outlook.

We can come back in the coming days/week(s) to see if each target is tagged or not. All the best!

Took long gbpjpy at 140.76 Target 143.60

I´m also bought pound short term

News is all negative

already down 800pips~ From last high

my best trades were to go opposite news. Never a sure thing. Especially with JPY pairs.

At this level i like a longer hold

not one for patterns but a reverse head and shoulders is seen.

Remember traders swing the market around. But real demand from banks and funds win out over time.

I’m cautious of another jolt down triggering stops.
Stay low leverage.

GJ at buying and support zone now. I am long GJ.

maybe in your dreams...but not in the realty

8H pinbar: I am long if we cross the top.

nice uturn

Took long at 137.10 target around 141

Gap up

Bought

- If more to the downside, we should see January' low.

now it's recovery up ....