Gj Reversal Zones

[TareqS]

The daily chart has been extremely bearish. The price may consolidate around 155.600. A bearish breakout may drive the price towards the South further. The level of 151.000 may work as a level of support next.

 

[Glastonburyk]

The daily chart has been extremely bearish. The price may consolidate around 155.600. A bearish breakout may drive the price towards the South further. The level of 151.000 may work as a level of support next.

Most likely mate

 

[ForexTus]

The daily chart has been extremely bearish. The price may consolidate around 155.600. A bearish breakout may drive the price towards the South further. The level of 151.000 may work as a level of support next.

I just think ill be staying out of this pair until there is some clear direction. Its in a mess atm imo

 

[bigbax699]

Good morning all. Going to try a trade here on GBPJPY . I still think it's possible we may move lower. So i'm going top try a sell to buy here from this zone. Look's like a break and retest, find price in a nice supply zone currently so we can get a fairly tight SL on this setup. First target is the demand zone below for a 4:1 R:R, second is the next demand zone below that one. ideally knock down to the 4H timeframe for an entry today, look for some signs of resistance before entering, as it is possible that the previous touch in that demand zone below is causing price to continue bullish . Will update again in a few days. GLIYF

 

[TareqS]

I assume that the pair may end up producing a Head and Shoulder here. The price may consolidate and find its support at the level where it had bounced earlier twice. A breakout at the 162.380 may push the price towards the last swing high.

 

[ForexTus]

Good morning all. Going to try a trade here on GBPJPY . I still think it's possible we may move lower. So i'm going top try a sell to buy here from this zone. Look's like a break and retest, find price in a nice supply zone currently so we can get a fairly tight SL on this setup. First target is the demand zone below for a 4:1 R:R, second is the next demand zone below that one. ideally knock down to the 4H timeframe for an entry today, look for some signs of resistance before entering, as it is possible that the previous touch in that demand zone below is causing price to continue bullish . Will update again in a few days. GLIYF
View attachment 76853

really like the look of these levels. Ill be marking these off too

 

[bigbax699]

Good morning all, just a quick update today on the GBPJPY trade taken. If you went in with me at the last time I posted the setup we have had some significant movement. We saw price drop from the supply zone as expected and since we have had a re visit to the supply zone . Price looks to be respecting the bearish trend creating lower high's, we just need to push lower now for the next lower low. Currently sitting at 275 pips in profit which is just over 1:4 R:R. As always secure some profits either moving your SL to entry or inside profits, or closing some of your position. Will update again in a few days. GLIYF

 

[sebking1986]

Looking like you are in a sell model now so I'd think you're on your way. As you say secure profits as you go to keep yourself paid.

 

[FriendlyFX]

Came back to the original SZ and dropped again lovely trade and a healthy RR

 

[Glastonburyk]

Good morning all, just a quick update today on the GBPJPY trade taken. If you went in with me at the last time I posted the setup we have had some significant movement. We saw price drop from the supply zone as expected and since we have had a re visit to the supply zone . Price looks to be respecting the bearish trend creating lower high's, we just need to push lower now for the next lower low. Currently sitting at 275 pips in profit which is just over 1:4 R:R. As always secure some profits either moving your SL to entry or inside profits, or closing some of your position. Will update again in a few days. GLIYF
View attachment 77080

Smashing it man