GBPJPY

The pair broke below 134.30, next target is around 131.20, I think.

Forex, 22th september 2016 : suggestions for main currencies

Everyday at Sidney's opening time, according to some volatility and direction parameters analyzed on the world's majors USD , EUR , GBP , JPY , I purpose my advise on the likely scenario, within the following Tokyo, London and New York sessions, taking advantage of correlations between strong and weak currencies.

For the next hours, I prefer sell setups on GBPJPY .

I recommend to those who want to follow my indications, to operate by their own strategy and be careful, considering the erratic price movements due to economic calendar news, and plan every trade with suitable risk/reward ratio as allowed by the available capital balance and working time.

Thanks and good job.

Staying out of this market for now.

arigoldman posted:
Staying out of this market for now.

Base on current irregular trading conditions, that might be a good idea.

i still looking gj to retest last week Friday low (Oct 7th)

Bearish on the Sterling.

GJ bearish

GBPJPY at a major s/r level right now - 138.5-139.0 - , that has been rejected before early September and June and July, waiting for a reversal signal to go short OR a convincing break above to go long.

Bearish view unchanged.

The pair pulled back from last week high, but given Yen's weakness remains, downside should be limited.

Let's see what the week brings.

Bearish gap remains, but Gbp/Jpy bounced from around 142.40 to 143.86 level . I'm expecting consolidation movement in the near term before the ECB meeting on 8th of December.

Very good resistance at the 146.00 level on the GBPJPY. The bullish trend is still in place and even if the price retraces towards the 142.00 level, it may go back up.

Neutral at the moment.

Bearish on the pair.

GBP/JPY: Technical Levels
                                                                             
Higher side: 140.23 (March 16 high), 140.50/57 (Mar 10 & 11 high), 140.90 (50-DMA)

Lower side: 139.58/45 (daily pivot/ classic S1), 139/138.99 (round number/ Mar 9 low), 138.50/38 (psychological levels/ Mar 8 low)

I am watching GBPJPY for a long time now, without placing any orders on this pair.. because .. GBPJPY hasn't been moving for weeks.. at all! It is in a very very narrow range and if zoomed out it is in the tip of a well defined triangle.. the tension is getting high so a break out might be expected soon, and with such a high tension, the breakout will be a strong one... Which way? I have no idea, it could go both ways.

Hence the called out levels are not really significant, when it starts to move it will take out these levels in no time.

This all comes nicely together with the Brexit negotiations starting soon. When the first results come out, this could trigger this pair to start moving again, as it used to be!

My plan: Wait for the break, then a pullback and direction confirmation to enter... both directions it could go a long way (1000-1200 pips!)

Have a good one!

Hello,
GBP/JPY is on the upper side of the range. Looks good to take position from the sell side with tight stop.

@mnierop I'm also waiting for gbpjpy..this pair i love to trade.