GBPJPY

Interesting to see what happens this week.

If it breaks below the previous low it will continue falling.

It touched 158.15 and awesome profits from 162.30 level 😎

Its on its way to 155. Lets watch!

The GBPJPY just keeps dropping, the 156.00 could act as support, but the bearish trend is still very strong and it may break below it.

Really awesome.I guess some profit taking and retracing has set in.It is not ready to proceed to 155.38 area yet.rather,I am buying till 159.70 area with some TP at at 159.12 God-willing. After which we shall be due for another massive shorting till 155.38 God-willing.

Trace2good is right.There is a strong close below the last low and daily and weekly pivots S2(both).I suppose we are heading to 155.38 level,God-willing.
Happy shorting.

Should price blow through the 155.38 level we may close most of our positions and target 153.973 before possible retracing or else we should spot another good entry to target 150.379,God-willing.The pair awesome.

I feel its good to buy at 156.40 for a bounce soon! 😀

Got a good bounce from 156.40 to 157.21. Now shorted more lots at 157.21 to enjoy the downride 😀

Good day traders and GBPJPY fans.I see sentiment changing from short to long now.If the GDP news at 9.30 GMT come out positive or higher than expected,I expect a very strong rally-up.If negative,it should give a better low entry point to buy from for a great ride up,God-willing.Below are my technical reasons summarily:

It has been a great ride down since last week with about 678 pips this week alone.With daily candle printing essentially a pin bar at a daily pivot support level S2-155.064 and a good close far above this S2 at 156.18,we are set for a long trade.Stochastic cross-over at S2 in 4HTF is also a good reason to long.Finally there was about 5 hours of consolidation over daily central pivot 156.061 with the ultimate strong breakout close above the central pivot at 156.128.It seems right to long then for at least 500 pips for the averagely aggressive traders.

The conservative traders may wait till a strong close above yesterday's (24.02.2016) daily candle or a retest of today's low and settling down of the market after the high impact GDP news at 9.30 GMT.I am looking at a partial take profit at 160.95 and with a good close above this level,a final exit at 164.20-almost 800 pips by next week,God-willing.

Happy trading.

Closed all shorts at 155.20. Now went long at 156.20 and aiming for 165 within next 2 weeks 😀

trade2good posted:
Closed all shorts at 155.20. Now went long at 156.20 and aiming for 165 within next 2 weeks 😀

What makes you think there will be a reversal?

I'm bullish.

that was my trade two days ago

There's a doji candlestick on the 4-hour time frame below the resistance at 158.50, I think we'll see another drop next week.

Go long for the dragon😇

I agree, it will probably reach 159.00.

Entered long.

nzdjpy just entered 5 shorts orders tp at 74.43