#GBPJPY: UPDATED VIEW 24/10/2024

24 окт.

**GBPJPY UPDATED VIEW BASED ON PREVIOUS ANALYSIS**

Dear Traders,

I hope you are doing well. Based on our previous analysis of GBPJPY, we identified two potential selling opportunities within the market.

However, the bullish sentiment in the DXY currency pair has had a significant impact on JPY, causing it to fall short of its full value within the daily timeframe. As of today, we have observed a potential exhaustion of DXY’s bullish momentum, with four-hour candles indicating a strong bearish pressure. This development presents an opportunity for JPY to rebound, potentially allowing us to secure substantial profits within the market.

Now, let’s focus on the GBPJPY currency pair. The price has extended its bullish trend, although there is a possibility of a reversal from its current position. We recommend implementing appropriate stop-loss orders for any sell entries taken from the current market price. If the initial entry fails, we are confident that the price is likely to reverse from our second entry.

Before making any decisions based on this analysis, it is essential to conduct your own research. This analysis is solely for educational purposes and should not be considered financial advice.

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Best regards,

Team SetupsFX_

16 нояб.

Сделка активна

As explained in detailed in our description, that we would see a strong price reversal from 198 or 199, and price just did the exact same thing. Now we expect price to drop further in coming week. We can see price dropping towards 190 price area. Please use proper risk management while dealing with GJ as it moves with volatility most of the time and with 50-80 pips stop loss may not be enough.