GBP/JPY is approaching its resistance at 146.04 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal pullback resistance) where it is expected to drop further to its support at 144.84 (61.8% Fibonacci retracement, horizontal swing low support).Stochastic (55, 5, 3) reversed off its...
GBP/JPY is approaching its resistance at 146.11(100% & 61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal pullback resistance) where it is expected to reverse down to its support at 144.85 (61.8% Fibonacci retracement, horizontal pullback support).Stochastic (55, 5, 3) is...
Wave pattern of H4 chart:The last current wave of the cross starts in mid-August. To date, the structure looks complete. The price has almost reached the end of the settlement zone.Wave pattern of H1 chart:A downward wave has been forming since November 8. Its wave potential goes beyond the...
GBP/JPY is approaching its support at 144.30 (100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal overlap support) where price is expected to bounce up to its resistance at 145.93 (38.2% Fibonacci retracement, horizontal pullback resistance).Stochastic (89, 5, 3) is testing its...
GBPJPY has been quite impressive with the recent bullish gains which lead the price towards 149.00-150.00 area from where the price is being observed currently to push lower with certain bearish momentum. Despite GBP having mixed economic results recently, the sustainability indicates the amount of...
Recently, the GBP/JPY pair has been trading downwards. The price tested the level of 145.79. According to the H1 time – frame, I found that GBP/JPY in the bullish correction phase (bearish flag in creation), which is a sign that you should wait for confirmation before you sell. Watch for a...
GBP/JPY has recently broken below the corrective range support area of 147.00 from where the price is expected to push lower in the coming days. As of the recent worse economic reports of GBP, in the meantime, JPY gained good momentum in the process which is expected to lead to further bearish...
Recently, the GBP/JPY pair has been trading downwards. As I expected, the price tested the level of 146.50. According to the H1 time – frame, I found a fake breakout of the 15-day low at the price of 146.93, which is a sign that potentially the sellers might got trapped. My advice is to watch for...
Recently, the GBP/JPY pair has been trading downwards. The price tested the level of 147.70. According to the H1 time – frame, I have found the breakout of the support trendline in the background, which is a sign that sellers are in control. I also found potential creation of C wave (from ABC...
GBP/JPY has been volatile and corrective since the price rejected off the 149.50 area with an impulsive bearish daily close. JPY has been fundamentally quite solid recently which made the price climb against GBP, while GBP is showing weak performance in light of the recent economic reports.Today...
