GBPJPY

It's clearly going to the downside at the moment. It will probably test 154.70, but as you said, I'd wait for it to break below that level to confirm the bearish trend.

Consolidating atm...

Once consolidation ends it will start rising, I think.

Down or up ?

Regards,

S.

The signal on the 4-hour time frame is for down, the one on the daily time frame is for up, so we'll have to wait and see.

Life has a way of rewarding patience and discipline.I see GBPJPY ready for a massive sell off.One may enter the sell trade right now or wait for the completion of 15 minutes time frame pullback or a strong close below the current 15 minutes low.SL should be alright at 162.80 and partial TP at 156.72,155.36 and 154.938.after a strong close below the 154.70 level,we may wait for a pullback depending on the kind of close at say 1 or 4 hr time-frame and a Target of 130.317,as we had written earlier,God-willing.

It's going up very well.

If it continues rising its next target should be around 163.60, I think.

Bullish above 160

arigoldman posted:
Bullish above 160

You're right, the next level of resistance is around 160.60. If it breaks above that level it will reach 162.00 again, I think.

Hello traders,following the massive selloff GBPJPY last week and the 4 hr time frame technical set-up yesterday-Monday,we are due for a corrective move up perhaps upto 158.23 level or less.However,the rate decision today and the CPI and core CPI positive news further support the corrective rally.I think we should watch out now again for good buy set-up to target 155.82 and 156.19 possibly God-willing.

Hi , I agree that the goal of about 158.7 , and the need to get a sell signal from a week chart to continue falling

Hello traders.With about nine 4 hr candles inability to close above the 155.555 level higher time frame Fib extension of GBPJPY,I believe the corrective move is over and the initial down trend resumed.We should target(testing it) last daily time frame swing low at 151.634 level and possibly go lower down to 149.78 if we see the correct continuation set-up<God-willing.We need to close all our long trades on GBPJPY in my opinion.The long term target for those who can hold on should be 130.666 level,God-willing.

Happy shorting.

hi, I fully agree, the goal in this reach of 151.6

Staying out for the moment.

My long term target is 147.00, which is 61.8 fib of Jan 2012 to Jun 2015 swing high. With April heading for an engulfing bearish candle, this does not seem so out of the ordinary at the moment, but requires some patience though.

Currently I am already 650 pips up in this trade, entered short March 31. Stop moved to 156.90 which is a few pips above the 50% fib, which is also above a strong s/r area at about 156.00

Hi

hi

Whoops, GBPJPY is stopped out at +424 pips profit, seems to have reversed it's trend, if the break above 157 holds it will be time to think long again