Thanks for sharing the chart. The marked zone looks good to work as a level of support. Since the price has been heading towards the level with good bearish momentum, we may wait for the price to produce a double bottom here. If it is breached, then, we may go short upon breakout confirmation up to the 2nd marked support zone.
Farm Yard Forex
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JPY is so weak at the moment. Rather surprising I have to say. Looking for price to clear the 155.22 area first.
Good morning all, it's been a while since we have had a trade setup on GBPJPY . But it may take a while to get to my most favorable place for a position long term so i am looking at this short to medium term trade of a sell. We can see rejection from yesterdays candle so id like today's candle to rise in price a little more to get a rejection from the area around the moving average. Price look's to be making a lower high currently so it makes for an ideal sell here in the current trend. Maybe move down to the 4H chart to get a quicker entry into the trade. TP zones are easy targets, first being the demand zone created on the last low, and second being my long term target buying area. Low risk on this one all GLIYF
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Your marked zone of resistance may play a vital role and drive the price towards the South. The price reacted heavily around that horizontal level of resistance. Moreover, the down trending trendline's resistance may attract more sellers to go short in the pair.
Farm Yard Forex
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Looking fairly range bound on the daily still but JPY is weak as hell at the moment contrary to geopolitical events. It seems money is flowing into USD mostly.
I am looking at shorts this week.
JPY weakness at the moment looking to see if GJ will make it up to 158 levels first before we see the next short term fall. we have been pushing higher for a while now and will be looking for a correction downwards for sure
Good morning all, from my recent video on YT i was looking at GBPJPY for this possible setup. No we find price has moved up to the supply zone . This is a major area of interest, as we look to the left we can see what has happened to price in the past, we have had some decent drop to be taken advantage of. I will be watching price today and if this supply zone holds then i will take a sell back down. We have some clear TP zones to aim for. If price breaks through then the dynamic changes and we also have some zones mapped out to buy from on any pull backs if the bull run is going to continue. Should be easy to take we might even have to go down to the 4H chart for an entry as I have a feeling it may drop before the days end. GLIYF
Farm Yard Forex
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With the state of JPY at the moment I can see that zone getting smashed I'm afraid. It's a pie crust.
Me too its a sitting duck
Farm Yard Forex
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Just hitting a nice area to react off of. There's been a reaction already but remains to be seen if it holds or keeps going for now. Have to go back to 2016 for targets now!
The daily chart shows that the price made a strong bullish breakout at that level of resistance. Thus, the bull may dominate in the pair. I am going to wait for the price to make a bearish correction and produce a strong bullish reversal pattern to go long in the pair.
Farm Yard Forex
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That spike today on the daily cleared out the equal highs from back in 2016. Instant reaction.
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