Daily GBP/JPY analysis

... a picture for Trumpet. Thought this might assist a little in working out possible direction of price.





and don't even take notice of the numbers/letters on the chart, just the lines.

Preferably, I'm looking forward for a potential of bullish reversal trend scenario either refering to the alt counts in yellow (double bottom) or aqua (bear trap). A valid diagonal triangle pattern would favour to the alt count in yellow scenario. Happy Hari Raya Aidilfitri & Maaf Zahir Batin. Good luck.

Early today I was on a wild ride like the rest of you, after research and the imput from other traders, I am closeing my shorts,I think it is highly likely the Yen will follow suit with the Swiss, I have been tradeing since 2005 and I have never seen a market like this, I always use a min. stop loss of 100 PIPS, I think its time to make it larger. My chart showed a downward trend with my first hit @ 123.30 area then 122.65,to 122.20, but with everything on the table I think a long is a safe bet. What are your thoughts ? I would like to Thank Cohiba Pips, Mpt, and PipPipPip,and all the other traders who research the trends. Thank You.

been in this trade for about two weeks now. Will hold it till further so.

My view on this pair did not changed dramatically.

We have a strong resistance and supply level around 122,20 to 123,20 on a weekly TF. Major trend is obviously down and we discussed this earlier before we opened position. Statement was focused on 124,50 resistance and on 123,20 which were all recognized also by the market. 123,20 now stands firm.

On a daily we can see a corridor of 123,20 and 125,10 where the market found its support. Trendline is chopping every attempt to reverse the position on this cross. Yesterday we had a 200 pip L to H movement and a close around the open which gives a sign of indecision on this pair. Till now, today we did not see a new low and we can see some buying GBP pressure around the table.

On a 4h graph we can see also resistance at 123,20. Next upside targer is around 124,20 level where again it should be a brave selliing pressure for a while(could be till next week). If we break 123,75 and hold on over that level for a few days we could see a major pressure to the upside and testing at least 125 and later on 127.

As said, downside pressure is substantial but we could see some nice levels of resistance here. The history suggests - the future will say!

Today we will see some data for GBP and JPY. Let us begin!!

At the moment, a strong bounce scenario would bolster toward the alt count in yellow. Otherwise, I believe we may see a potential of "Bearish Trap" pattern in aqua before expecting toward any bullish reversal trend scenario. Good luck.

At the moment, a breakout toward the upper green trendline is still yet remain to be seen to determine that market in favour to perform a bullish reversal trend scenario. Otherwise, we may see another larger pattern of diagonal triangle to complete a "bearish trap" scenario in aqua. Happy weekend and good luck.

OK, we managed to hold 123,75 for one day. Now this remains our support for the upmove. We Will surely see a pressure around level where we are now - 124,20!
If we manage to start a week from levels around 124,20 we could see another test to 125 at least.
This week JPY crosses were relatively calm-there were other movement going on on other currencies (EUR,CHF,USD). We can expect that JPY will move a lot next week.

Happy summer, weekend!

H4 chart confusing, even though the london market opened.

GJ possible 3 dives.

high volume may indicate turning point.

target.... its a longshot, hence the nickname.

was tooooo quick for fridays close
Closed on SL there for 100 pips there. JPY is another safe heaven to be bought right now. Like we said-JPY will rock this week, but it started already on friday

I can still see 122,30 a level where it will decide where this beast will move. Potencial is pretty much down overall.

All the funds are buying the JEN atm in my opinion. Again, any Central Bank will not be able to take on the market - it is too strong. JPY will rise. Looking for some levels to short.

Happy pippin!

I think we got an all time low, no? 121.78

Heaps of people say 122.15 was the low back in March. My feed printed 120.980 on that day.

If you were using a market maker broker they could have widened the spread to show that bid. I'm using an institutional feed that gives an average price of bid and ask as the last. This way, even when the spreads get wide, the chart stays accurate.

Gbp/Jpy pair historic low is back to the third week of January 2009 at 118.80 price

Today possible more downside movement is toward 121.30/40 while retracement is at 123.00 then 123.90/00, above is toward 125.00

GJ Daily

Gbp vs Jpy (1H) - At the moment, a strong bounce scenario would bolster towards a potential of bullish reversal trend scenario either refering to the alt counts in yellow or aqua. Otherwise, please be careful for another bearish continuation trend scenario either refering to the alt counts in white or magenta.

Gbp vs Usd (Daily) - Preferably, I believe market may in progress to perform a bearish reversal reversal trend scenario either refering to the alt counts in aqua or yellow. A further breakout toward the bearish continuation critical line 1 would bolster to this scenario. Otherwise, please be careful if market bounce back from the white critical line. Good luck.

Get up you GJ.

Hopefully, Traders used my morning analysis for this pair by buying at 121.30/40 very crucial support level.
Targetting 123.00 first target then all the way toward 125.00
Around 300 pips TP(if no intervention appear) would be reasonable with buying again if retraced downward later on