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Gjlong

GBPJPY -Expecting long from Daily Trendline SupportGBPJPY- Expecting Long from Support- Daily ascending Trendline. Price is above 200 SMA . But on HTF we are also seeing Lower highs and developing of ascending triangle . Expecting price bounce from the Support. On fundamental front. BOE is on roads to Raise 25 BPS interest rates in Aug. Though 50BPS under discussion ( Remote). This can act as catalyst to GBP pairs especially JPY due to dovish monetary policy of BOJ and interest rates differentials between the central banks. Comment on the idea and odds, Cheers!
Long
by decentshaw
GJ LONGbased on my analysis there is a high probability of GJ continuing bullish. my technical confluences; the bigger trend is bullish on the daily. price is making structure and broke the previous support and resistance on the 4h and its trending above both ema's which indicates a strong bullish trend. then I went to the 1h for an entry signal. I got in into this trade as soon as the price broke the zone wth a momentum candle on the 1h ( i trade the breakouts) after the price started ranging due to lack of liquidity. sentimental confluence; 77% of retail traders are short so ain't a no better time than this to go long. my RM: RISK;1% RRR; 3.1 SL: bellow previous LH TP; previous swing PS; I have an 80% probability of this trade turning into a winner, always think of probabilities. no trailing stops I am letting the trade play I managed my risk and that is what matters. protect ur capital then make money.
Long
by Ily14
2
GBPJPY H4 ANALYSISPrice is still bullish and rallied today 100+ pips. Support was found at 160.50 level. Possible rejection around 162.50 if price wants to push higher towards the previous supply zone. I'm personally looking for sells. Looking for a strong bearish candle to break 50 ma. There's money on both sides but if price doesn't break the 162.50 level I feel sellers will come in push price lower and low to grab up money around the 159.50 level and lower. This month and I'm challenging myself to just focus on 2 pairs and GJ is one of them. lol Trying to focus and cancel out noise/distraction. I will never give this up. I strive to be a professional trader and have that financial freedom we all look for. Trade safe and RISK MANAGEMENT. Peace.
by MrVizions_421
GBPJPY LONGBy looking at the price action, its easy to see that the pair has been moving in a bearish direction for serval days. Current price action suggests that we might be in for a short term bullish correction. We have spotted the formation of an inverse head and shoulder pattern on the Daily chart and when we move to the H4 time frame, this pattern is more clearer. Another reason for our bullish short term basis is because we have spotted a change in market structure from bearish to bullish as per our key level. We will be looking for an entry on the retest of this key level. The target for this trade is around high of the previous month. The risk reward for this trade currently stands at 7.87 to 1. We plan to hold until target or close manually as per our trading plan rules.
Long
by NDOBObanks
2