Gj Reversal Zones

[TareqS]

GBPJPY has been very bullish in the H4 chart. The price made a bullish breakout at the last swing high. It is traded above the last swing high. Thus, the buyers may push the price towards the North further.

 

[bigbax699]

Good morning all, we finally got some action on GBPJPY after it moving sideways for the whole of August. We have seen price break out to the upside, but will it be short lived? Price hit the supply zone we currently sit in and produced a doji candle yesterday. So we can watch price today and if we fail to break above this supply zone then we can try a sell trade here back down to the demand below. If the zone breaks then we have a very strong zone of supply from above which we can also look for the same possible setup. Keep watching today's price action, even down to the 4H timeframe and watch for resistance to form for a possible drop back for an entry. Will update again next week GLIYF

 

[ForexTus]

massive area of resistance. I think the second entry looks really good

 

[TareqS]

The pair has been bearish in the H4 chart. The level of 164.700 may work as a level of support. Be very patient and watchful for the price action around this level to find its next direction.

 

[ForexTus]

The pair has been bearish in the H4 chart. The level of 164.700 may work as a level of support. Be very patient and watchful for the price action around this level to find its next direction.

It is crazy how JPY has become stronger i remember 2 years ago it been so powerful since then its been so weak nice to see it making a return lol

 

[sebking1986]

Second entry is doing nicely by the looks of it.

 

[hoangnguyen]

Thanks, being reactive and not predictive is key

 

[TareqS]

The pair had a bounce at 162.800. The buyers may look to go long in the pair and push the price towards the North. It may find its next resistance around 164.375.

 

[TareqS]

The pair made a strong bearish move in the H4 chart yesterday. It consolidated for a while. As of writing, the pair is about to make another bearish breakout at consolidation support. It means the Bear may dominate in the pair for a while.

 

[ForexTus]

The pair made a strong bearish move in the H4 chart yesterday. It consolidated for a while. As of writing, the pair is about to make another bearish breakout at consolidation support. It means the Bear may dominate in the pair for a while.

GBP is very weak at the minute with fundamental factors playing a big part