GBP/JPY analysis

[Ian Billcliff]

The GBPJPY market was in the uptrend but now we are looking that the market suddenly broke out it’s range and went down. So still there is sell signal for the retail long time traders. So sellers should take an entry point at 150.03 and the target point is at 147.51.

 

[EdwinB]

How fx trade ideas in Intraday bias in GBP/JPY remains on the downside for the moment. Current fall from 156.59 short term top should target 146.96 support. Considering bearish divergence condition in daily MACD, firm break of 146.96 will be another sign of medium term trend reversal. On the upside, break of 154.03 resistance is needed to confirm completion of the fall. Otherwise, outlook will remain cautiously bearish even in case of recovery.

As long as 146.96 key support holds, medium term outlook remains bullish. Rise from 122.36 is in favor to extend to 61.8% retracement of 195.86 to 122.36 at 167.78. However, break of 146.96 support will indicate trend reversal after rejection by 55 month EMA. In that case, deeper fall would be seen to 38.2% retracement of 122.36 to 156.59 at 143.51 and then 61.8% retracement at 135.43.

[Resolve]

We will need to make use of such kind of a Forex Broker which is Regulated and that is Truly International like FXOpen 🙂

[Resolve]

I am doing my Forex Trading with the International Broker FXOpen 🙂
They have Low Spreads in Gold and Forex Pairs with USD.

 

[Resolve]

I am doing my Forex Trading with the International Forex Broker FXOpen Markets and they have Fast Deposits and Withdrawals 🙂

Edited January 8, 2023 by Resolve