Daily GBP/JPY analysis

considering the intermarket analysis we have as below:
JPY suffers of High Value of crude oil cos Japan economy is highly depended to importing crude oil
&
on the other side UK as an exporter of light crude oil (Brent) benefits of a high value of crude oil now by this a divergence of Prices is clear on the previous mentioned chart

political clashes between Iran and US about the closing of oil transit in Hormoz Bay/strait Keeps the Oil price to stay high against common financial classic concepts

Thanks for the clarification.

That was a good explanation

GBP/JPY


Daily Pivots: (S1) 119.43; (P) 119.68; (R1) 120.19

At the moment, I'm looking toward a potential of bearish retracement trend scenario either to perform subcorrective wave abc in yellow or subwave 4 in aqua. A "bull trap" pattern and a pullback from upper green channel would bolster to this scenario. Otherwise we may see an extension of subwave 3 in white. Good luck. Gong Xi Fa Cai.

Where is the traders in this forum?

I am ready to sell

I would wait

Daily Pivots: (S1) 120.20; (P) 120.80; (R1) 121.97

At the moment, I'm looking forward for another bullish continuation trend scenario either to perform subwave 5 in aqua or major wave 3 in yellow. Otherwise, I believe we may see another bearish continuation trend scenario perhaps to perform the incomplete of subcorrective wave c in white. Good luck.

Daily Pivots: (S1) 121.24; (P) 121.56; (R1) 121.81

waiting for the sharing results))

shorting this pair @ 119.78 with a target @ 119.38.

sl?

I use mental sl, so I would but it around the 120.50 mark

At the moment, I'm looking forward for a potential of bullish trend either refering to the alt counts in aqua or yellow. Otherwise, I believe market may perform another bearish continuation trend scenario in white. Good luck.

Daily view/ideas




Shorter term view

i am buying...

200pips a day has long gone
gj is no longer as sexy as it used to be...

shorted this, should have taken EJ and would be up 40 pips already

stop above market open target is 120.50