GBPJPY Bull

[pezz55]

Looking back at our old friend GBPJPY today. Alot has happened since we last took a look at it. Price broke out of the bullish wedge formation with the GBP reshuffle in parliment. Now we can see price retracing. I think we could either see a bounce from the 38 fib like we have seen many times in recent past. Or a simple re-test off the broken trend.
Quite a simple trade to look out for in the near future. GLIYFView attachment 50930

I have this on my radar this week as discussing it in another group. last week i thought about selling and i was not looking at the massive support zone to the left. after discussions it was clearly sat on a ledge ready to go higher with strong support. some times is good to discuss your mentality with trading!

 

[Madalyn]

What does everyone think about an EU Buy?

 

[walpants]

did anyone get in this?

 

[Treacle]

Hell yeah, was an easy buy

 

[Sammy colt]

Looking back at our old friend GBPJPY today. Alot has happened since we last took a look at it. Price broke out of the bullish wedge formation with the GBP reshuffle in parliment. Now we can see price retracing. I think we could either see a bounce from the 38 fib like we have seen many times in recent past. Or a simple re-test off the broken trend.
Quite a simple trade to look out for in the near future. GLIYFView attachment 50930

This pair will be my main focus this coming week, plenty of pips to be had imo.

 

[Smith2525]

Still more longs to be had this week then by the looks of it.

 

[bigbax699]

Its monday, markets are open and firing. Big gaps everywhere from the weekend. Fresh Coronavirus threats and concerns going on from G20 meetings. Gold shot up some more and its possible we could see some strength in safe havens like JPY pairs. Im thinking of this short term sell on GJ. Small stop available of 40 pips or so with a nice possible 300 drop back down to solid structure of multiple confluence of support. Hanging man/Doji on the daily close last candle. Could we see the push back down to that 0.38 fib? lets find out.

 

[bigbax699]

Looking back at GBPJPY . Previously when i analysed this pair i suggested the drop from the resistance zone above with a 300 pip drop back down to the 0.382 fib. Well we are currently 220+ pips up on that move, price is currently sitting in this small mid section of price reaction area, if we clear this then TP should be achieved. Would be a good idea to take partials here, move Sl well into profits on the runner and let it do what it does. Looking for another hit in the magic blue circle. If we hit it this time and bounce from it again then that could be another nice buy too. You can see each high that has come from this fib level has been slightly higher each time. The next move up could possibly be bigger than the rest and push above the supply zone above for a huge move. GLIYF

 

[Madalyn]

I think we are primed for a big move up.

 

[DaveT]

All going to plan, great analysis