Gj Reversal Zones

[ForexTus]

The price has been heading towards the North in the daily chart. It had a strong rejection at 164.500 area earlier. The price may find its resistance again at that area. Both the buyers and the sellers are going to wait to see how the price reacts at that area.

I liked the rejection from that zone too. Its just so jumpy atm I'm going to wait on the sidelines until end of next week at least

 

[TareqS]

The pair has been very bullish. It seems to have a rejection at a level of resistance, but the buyers may go long again upon having a bullish reversal candle in the daily chart. The sellers, on the other hand, must wait for a strong bearish reversal pattern such as the Double Top to go short in the pair.

 

[Petezaa]

GBPJPY has been relentless of the last few weeks - but we could actually see some downside as we go into the new week.

We are seeing some nice impulsive moves to the downside - so I wouldn't be surprised to see a continuation downwards.

 

[Glastonburyk]

GBPJPY has been relentless of the last few weeks - but we could actually see some downside as we go into the new week.

We are seeing some nice impulsive moves to the downside - so I wouldn't be surprised to see a continuation downwards.

Probably a long and slow consolidation to come first

 

[Jim B]

Looks like This will be dropping, going to be shorting this pair I think.

 

[TareqS]

The level of 159.600 held the price as a level of support and produced a bullish candle. Today's candle has been a bullish one as well. The daily chart suggests that the price may look to find its resistance and it may make another bearish move.

 

[momo3HC]

No new charts here?

 

[ForexTus]

No new charts here?

Was thinking the same I enjoyed the analysis on this pair

 

[TareqS]

The level of 163.170 may work as a level of resistance and drive the price towards the South. Today's candle has been very bearish so far. If its end up as a bearish candle closing below consolidation support, the price may find its next support around 157.650.

 

[ForexTus]

The level of 163.170 may work as a level of resistance and drive the price towards the South. Today's candle has been very bearish so far. If its end up as a bearish candle closing below consolidation support, the price may find its next support around 157.650.

I think JPY needs a retrace anyway its been so weak recently it buyers need to rebalance a little for sure