GBP JPY - Bulls on parade
Hello traders and analysts.
Key:
Purple = weekly
Blue = Monthly
Orange = Daily
grey = 4hour
pink = 1 hour
See our update to the tracking of our position on GJ
The original idea is here for 2021:
Where are we and why are we there?
Fundamentals at play
With the successful Brexit transition and recovery from the Risk-off scenario from Brexit, the commodity hedge from Gold will not push higher. While the vaccination and cases remain a concern for the UKs long term success in the economy opening up, the GBP has been seen rising and looks set to continue with a target of 143 poised to be filled by the bulls. [this has been completed]
XAU USD & GBP JPY are safe havens so expect the volatility within the pairs to remain strong as short term sentiment turns sour.
From a Fibonacci prospective:
We took the low and plotted the high.
We expected the previous wick to be filled as the order blocks in GJ are volatile so price and hit a fresh zone and reverse very quickly [with a deep retrace liquidity zone]. The extension targets below signify our areas of longer term profit taking.
While we did not add to the trade here, the opportunity here for buyers was a great opportunity as the 61.8% (golden ratio) hit.
Here is our original take for our last entry:
The overall bullishness from GBP is due to the JPY with an imbalance on the weekly (see the key) above where price is approaching a purple weekly zone between 147+. We are currently in a weekly zone between 143-145 whereby price has been creating a steep incline however has had healthy price engineering. The imbalances where price can retrace to is now to 137 (weekly) or monthly low 134-135. On a strong imbalance 150+ is the target.
From a daily, 4 hour view.
Bullish;
Bearish
This will be extended from the daily rising channel upon a break of 143.4
Why follow us?
Updates on our pairs as and when we can.
Swing trade out looks
10 years combined experience in capital markets
simple breakdowns for beginners to advanced .
KISS - keep it simple stupid.
we trade purely from naked charts, less indicators - remove the noise and clears your mind.
If you like our work, please leave a like or comment. To all our followers, we appreciate the follow and likes.
Regardless we will continue producing analysis.
Thanks,
Team LVPA MMXXI
Key:
Purple = weekly
Blue = Monthly
Orange = Daily
grey = 4hour
pink = 1 hour
See our update to the tracking of our position on GJ
The original idea is here for 2021:
Where are we and why are we there?
Fundamentals at play
With the successful Brexit transition and recovery from the Risk-off scenario from Brexit, the commodity hedge from Gold will not push higher. While the vaccination and cases remain a concern for the UKs long term success in the economy opening up, the GBP has been seen rising and looks set to continue with a target of 143 poised to be filled by the bulls. [this has been completed]
XAU USD & GBP JPY are safe havens so expect the volatility within the pairs to remain strong as short term sentiment turns sour.
From a Fibonacci prospective:
We took the low and plotted the high.
We expected the previous wick to be filled as the order blocks in GJ are volatile so price and hit a fresh zone and reverse very quickly [with a deep retrace liquidity zone]. The extension targets below signify our areas of longer term profit taking.
While we did not add to the trade here, the opportunity here for buyers was a great opportunity as the 61.8% (golden ratio) hit.
Here is our original take for our last entry:
The overall bullishness from GBP is due to the JPY with an imbalance on the weekly (see the key) above where price is approaching a purple weekly zone between 147+. We are currently in a weekly zone between 143-145 whereby price has been creating a steep incline however has had healthy price engineering. The imbalances where price can retrace to is now to 137 (weekly) or monthly low 134-135. On a strong imbalance 150+ is the target.
From a daily, 4 hour view.
Bullish;
Bearish
This will be extended from the daily rising channel upon a break of 143.4
Why follow us?
Updates on our pairs as and when we can.
Swing trade out looks
10 years combined experience in capital markets
simple breakdowns for beginners to advanced .
KISS - keep it simple stupid.
we trade purely from naked charts, less indicators - remove the noise and clears your mind.
If you like our work, please leave a like or comment. To all our followers, we appreciate the follow and likes.
Regardless we will continue producing analysis.
Thanks,
Team LVPA MMXXI
Похожие публикации
Отказ от ответственности
Все виды контента, которые вы можете увидеть на TradingView, не являются финансовыми, инвестиционными, торговыми или любыми другими рекомендациями. Мы не предоставляем советы по покупке и продаже активов. Подробнее — в Условиях использования TradingView.