Dragon Riders GBP/JPY

its testing the 20-day moving average and further downside is possible

144.2 area is the next reasonable target

If you look at a daily chart of UJ, it looks like there is a lot more drop left in GJ. Stochs and RSI still have plenty of room to the downside, but 4hr and less are pegged out below 30. Should get a breather soon before downside resumption. I am holding for 143.50ish area, just before the 38.2% fib. There is not much case for upside (from a technical perspective) over the next couple of days. However, in my experience, when you get comfortable with market direction..... be aware. That is when you can get your comfort level stuck up your a$$. Trade with caution.

Close with some profit ☺

target reached

Wow. I did not expect such a big move today. It could reach my 143.50 target by NY close. No really big news today (economic). The stock market is getting hit pretty good. I suppose this is just a risk-off situation and the yen is appreciating. Still plenty of room to fall, from a technical perspective. Good trades to all!

143 and 142.5 are my next targets

144.5 area is at the 20-day moving average and it will need to get above to be more bullish in the near term

if not, then it looks like the down trend will continue

short as GU at 1.300 t/p 144.45/

Trading idea GBP JPY TF daily


At the daily time frame, GBPJPY looks consolidated after the upside
Consolidated targets are seen in the EMA50 area of the daily TF.

After zooming out to TF monthly and weekly to find dynamic support
Got price:
EMA 8 @ TF weekly: 142.600
EMA 8 @ TF Monthly: 142.600

When viewed in the daily TF the price accumulates in the EMA 50 area
It will be a confluent zone as a strong support. (White line)

Buy limit @ 142.70

SL 1000 pips under EMA50 TF daily
Technical analysis based on "KamarMutilasi" Trading system at mt4 AGEA.
Keep MM wisely.
trade at your own risk, & good Luck

GJ EW. Next GJ target at 145.650 and 146.200 before major reverse to 139. My target GJ shadow leg at 135.

Gap down is at 100 pips OMG!

Close what ever you have (SHORT) and re-entry again when it reach 145.xxx.

Take profit first.

Shorted @ 144.630, SL 145.100

...

Looking to retest the 143.3 area. Perhaps more downward moves to 142 level @ 50% fib retracement til next week.

Break Even

What to do now ?

How about selling @ 145.50~60?

Pending order buy @ 145.300, SL @ 144.600 We will see...


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Hi!!

Pretty new to Forex and looking for some advice. I have a short at 145.31. I already moved to BE my SL. How do you see the pair?

Thanks in advance

Deleted.
Now placing pending order sell limit @ 144.800, SL. @ 145.200.