GBP/JPY

What are your targets, if you don't mind me asking.

HAHAHA you are a funny guy ! I've changed the color . No more crane like this.

I've edited my reply

Advice : look at high volume down bar next drop.

From the 1H the picture looks a little bit different.. I noticed a strong resistance area (red line).. I hope price can break through, but if not than Maxime is probably right..

Happy Trades

I think we are already breaking the flag...

Whilst a strong break over 178.7 (and clearing 179.1) in the next 4 ~8 hours would support a relatively bullish set up, failure to do so would point more towards a rounding bottom in a much longer correction.

edit - maybe not too much longer

Bounce on 177.60 maybe.

Reaching 177.3, I think is a good option to go long targeting 177.7 -178. Any thoughts?

my trend line has been broken... I think we have a redistribution right now....

That move is healthy, no sign of strength...

Yeah, I think arbitrarily buying right here is not the greatest idea unless some crazy price action in the short TFs dictates otherwise. Its been tightly coiled for a few days too much to fight it quite yet.

176.62 is the line in the sand here a break will dive into 175.36.....who know maybe a false breakout to clear stops...otherwise 185 is also wise open.. Happy pips all

I think we will have a pull back at 177.600 and then go back down to 176.60 as a first target.

Strong resistance there.

Been looking for a thread to bounce ideas on GBPJPY. Congrats on all who are trading this pair successfully...

I haven't read through all of the thread, so sorry if this has been posted already, but has anyone noted the weekly chart?

Break out of consolidation occurred last week. Of course, still plenty of long and short opportunities due to the volatility of this pair, but I'd be watching for some really good long opportunities more so, as we have over 3000 pips room the upside before any real resistance.

I actually entered a long trade for the long-term, but doubt I have the patience to capture all of those pips, as I tend to watch the price on the shorter time frames...

Also posting a couple H4 charts. Notice all of the buying around the weekly pivot point. Plus the monthly pivot (not shown on the chart) is well below the weekly pivot, which is well below the daily pivot, which also points to further upside. Once the price establishes itself above the daily pivot again (assuming it does), we should see a really strong move up.

Currently, we are seeing a lot of consolidation and bouncing between these pivots, but as I think was already noted, we should see a break out next week...

Again, the pair is super volatile, and plenty of long and short opportunities, but I'd be afraid to short it at this point, as that long-term upward trend may force it's will on this pair at any moment.

Short version of the story, is I will only look for long opportunities on this pair unless the daily or weekly chart confirms a reversal, but currently, weekly chart shows a break out on the upside, and daily chart shows consolidation (inside bar), so, we'll see what happens next...

H1 chart is looking like a buy right now...

if you don't mind the weekend risk

SL could be below the weekly low or the 3 day low, depending on your risk preference...

Next week will decide if we enter in a downtrend or if we stay in a consolidation.

Opened on a gap down of over 30 pips, and very quickly filled that gap, and continued up.

The fact that the gap was filled so quickly and offered no significant resistance tells me the pair is ready to move up. But then again, my bias is long, since I use the weekly, daily, and H4 time frames to judge the trend. Nothing on those higher time frames indicates a reversal, yet, so I'll be looking to stay long on this pair. Any drops in price, I look at as an opportunity to jump in at a lower price...

Looking forward, though, it looks like we have added confirmation, and a good basis to know what the price wants to do, with that gap. As long as it stays above that gap, I'll be looking for upward moves on this pair this week.

Again, only my opinion, but even if you are trading off the lower time frames, you'd add to your winning probability if you trade with the longer term trends...

I'll be looking for a about a 100 pip move before it takes a breather, then reassess...

I'll feel safe in my analysis as long as it stays above and/or continues to reject the bottom trend line on its move up. Of course for starters it has to confirm a break out of that upper edge of the triangle

wow, no matter how many times I try not to do it, I end up burning my eyes out on the lower time frames, i.e. the above chart was a M15...

Hats off to all of you who trade on those lower time frames, I just can't do it, as it burns me out. Glad I caught myself before I did it for 3 days, and go cross-eyed...

So, I will give myself a break, and watch on H4 chart, to see how the price reacts to the resistance its been bouncing around on for the past week or so. Still think my above analysis is sound, I just can't watch the price on M15...

hi , is anyones can explain why she go up ?