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GBP/JPY

that wa$ a nice drop. looking forward to the next one.
After 4-week consistent losing ground from 175.00, GBPJPY price again ended below 173.00.
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173.00 is the level Ii will be looking at.

Full analysis along with GBPNZD
http://www.forexfactory.com/showthre...53#post7647853
Learn the rules like a pro, so you can break it like an artist.
Chaffee Return This Year: 1,037.6%
Quoting MaximeCau
{quote} The pair is oversold now. Prices can rise up to the top of the cloud and then go back down.
You remember that ? Let see the daily chart now... Prices are touching the top of the cloud at 173.500. I think we will go back down soon.

I'm waiting to touch the trend line/top of the cloud...

The current 4h candle can be a test.
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-------> 169.5x
Quoting pipshuvit5
-------> 169.5x
what is this? Your mathematics homework?
Be a seer, not a looker!
Ata's Trend Hunter V2.0 All Time Return: 30.8%
GBPJPY looks set for a large C wave down of an irregular correction started from the beginning of this year. It had a complex wave b but becomes impulsive down from 3rd Jul top.
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Elliott Wave for optimum entry, exit and risk management of trades
Quoting skyhok
GBPJPY looks set for a large C wave down of an irregular correction started from the beginning of this year. It had a complex wave b but becomes impulsive down from 3rd Jul top. {image} {image}
My targets confirm your theory. I have 2 targets on my radar as you can see on image. I also believe it could go even deeper after my 2nd target is reached.

Happy Trades
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Be a seer, not a looker!
Ata's Trend Hunter V2.0 All Time Return: 30.8%
Follow up on the analysis i had last weekend on the 173.00 level for GBPJPY
http://www.forexfactory.com/showthre...53#post7647853

Today London section we had a run down through the 173.00 first time in August.
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Good momentum for about 50 pips and currently at the 172.50 where the July's lowest was.
Learn the rules like a pro, so you can break it like an artist.
Chaffee Return This Year: 1,037.6%
Quoting Ata-Turkoglu
{quote} My targets confirm your theory. I have 2 targets on my radar as you can see on image. I also believe it could go even deeper after my 2nd target is reached. Happy Trades {image}
Well, it's trying to break a minor bottom as I write. The best to your trades.
Elliott Wave for optimum entry, exit and risk management of trades
Quoting skyhok
{quote} Well, it's trying to break a minor bottom as I write. The best to your trades.
Thanks mate.. same wishes to you..

Happy Trades
Be a seer, not a looker!
Ata's Trend Hunter V2.0 All Time Return: 30.8%
On the 4H it's trying to break the Fibo 3rd support and the Stoch indi agrees for further down.
If will break 171.7 (fibo D1 50.0) today, there is no return
Update : some indecision on low tf . Will continue stalk it

I'll look for signs of weakness here

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Money moves the market, not an indicator.
Have no idea what just happen. Luck on my side, forgot to put TP in and made a unexpected quick 50pips. What now?
Reverse back to up for awhile before shoot back down...chill Louise,happy pipping
Quoting thomaspaine
If will break 171.7 (fibo D1 50.0) today, there is no return
Close 2/3 off shorts and add more 172.1, no return confirm, TP 1, 171.5, TP 2, 170, TP 3, 163
Thanks for that pipshuvits5, because I placed a Sell order at 172.200 and went to bed. Was a bit of a shock this morning to see it was triggered and the price went higher. Think 171.63 fibo still valid. Waiting game!
Interesting is that the Fabonacci Povits moved and the 3rd support is now at 170.575 and the daily candle show a bearish HA. Looks promising.
Just a follow up on the GBPJPY this week, earlier I called the 173.00 would be the key level to watch for breakout http://www.forexfactory.com/showthre...53#post7647853. And here it is, we had a break on 173.00 last week.
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Although it seems a bit oversold for scalping, technically, I suspect the bear trend would continue, and it's ideal to sell on pull backs as long as it's below 173.00. Watch out for GBP's GDP and Carney speech this week, too.

More analysis on EURUSD, EURAUD, GBPNZD, and GBPAUD is here. Feel free to check them out too.
http://www.forexfactory.com/showthre...50#post7664750
Learn the rules like a pro, so you can break it like an artist.
Chaffee Return This Year: 1,037.6%
This my take on GBPJPY, Go short near the resistance level of 171.45 and stop loss should be cap about 40-50 pips.
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