GBP\JPY Analysis: Asymmetric Triangle, 200 Pips Target

[ChartSecret]

An Asymmetric Triangle pattern has been validated in the GBP\JPY pair. It is a strong pattern that provides high-quality trades with great Risk:Reward ratio. This trade is 200 pips in size and therefore should provide us a big margin for profits.

Trading
*Enter long when price touches Support trendline. Target will be the Resistance of 162.00
*Enter long when price breaks out and pulls back to 162 Resistance level.

Target
Breakout up is expected, with target at 164.20

More analysis and trading signals:
chartsecret.com/content/gbpjpy-analysis-asymmetric-triangle-200-pips-target

[MDunleavy]

With 4 hours MACD crossed above signal line, an intraday low might be in place and some consolidation could be seen. Nevertheless, another fall is still expected as long as 151.16 resistance holds and current decline from 163.05 is expected to extend further to 146.75 cluster support next (38.2% retracement of 118.81 to 163.05 at 146.15). Break there will confirm that a medium term top is formed at 163.05 and will bring deeper fall to 61.8% retracement at 135.70 next. On the upside, above 151.16 minor resistance will argue that some more consolidation could be seen before fall resumption. In such case, GBP/JPY might rebound to 153.22 and above but upside is still expected to be limited below 157.47 resistance.[actionforex]

P&F GBPJPY1440 Box Size 430X3 or(6.92%) CLOSE
Data 250.2 - 122.42 ~ 69 Month ~ 2107 Day
Database 1500 records 148.717 (Last Close)
2003-12-16 00~00
2009-09-22 00~00 (GMT+01:00) Paris
BJF Trading Group

249.40|~43O||________________________x____________ ___________|0.32%|103.72%
245.10|~86O||________________________x_o__________ ___________|2.04%|100.21%
240.80|~129O|____________________x___x_o__________ ___________|3.76%|96.7%
236.50|~172O|____________________x_o_x_o_x________ ___________|5.48%|93.19%
232.20|~215O|____________________x_o_x_o_x_o______ ___________|7.19%|89.67%
227.90|~258O|____________________x_o_x_o_x_o______ ___________|8.91%|86.16%
223.60|~3O1O|____________________x_o_x_o___o______ ___________|10.63%|82.65%
219.30|~344O|____________________x_o_______o______ ___________|12.35%|79.14%
215.00|~387O|____________________x_________o_x____ ___________|14.07%|75.62%
210.70|~43OO|________________x___x_________o_x_o__ ___________|15.79%|72.11%
206.40|~473O|x_______________x_o_x_________o_x_o__ ___________|17.51%|68.6%
202.10|~516O|x_o_x___x___x___x_o_x_________o_x_o__ ___________|19.22%|65.09%
197.80|~559O|x_o_x_o_x_o_x_o_x_o___________o_x_o__ ___________|20.94%|61.57%
193.50|~6O2O|x_o_x_o_x_o_x_o_x_____________o___o__ ___________|22.66%|58.06%
189.20|~645O|__o___o___o___o___________________o__ ___________|24.38%|54.55%
184.90|~688O|__________________________________o__ ___________|26.1%|51.04%
180.60|~731O|__________________________________o__ ___________|27.82%|47.52%
176.30|~774O|__________________________________o__ ___________|29.54%|44.01%
172.00|~817O|__________________________________o__ ___________|31.25%|40.5%
167.70|~86OO|__________________________________o__ ___________|32.97%|36.99%
163.40|~9O3O|__________________________________o__ ___________|34.69%|33.47%
159.10|~946O|__________________________________o_x ___x___x___|36.41%|29.96%
154.80|~989O|__________________________________o_x _o_x_o_x_o_|38.13%|26.45%
150.50|~1O32|__________________________________o_x _o_x_o_x_o_|39.85%|22.94%
146.20|~1O75|__________________________________o_x _o_x_o___o_|41.57%|19.42%
141.90|~1118|__________________________________o__ _o_x_______|43.29%|15.91%
137.60|~1161|_____________________________________ _o_x_______|45%|12.4%
133.30|~12O4|_____________________________________ _o_x_______|46.72%|8.89%
129.00|~1247|_____________________________________ _o_x_______|48.44%|5.37%
124.70|~129O|_____________________________________ _o_x_______|50.16%|1.86%
120.40|~1333|_____________________________________ _o_________|51.88%|-1.65%
Column|~1376|4_4_3_3_3_3_3_3_5_3_105_7_6_3_105_174 _9_9_3_3_3_|
Count

[MDunleavy]

GBP/JPY falls further to as low as 144.31 so far and at this point, intraday bias remains on the downside for deeper decline. The break of 146.75 support confirms a medium term reversal pattern and GBP/JPY should now be targeting 50% retracement of 118.81 to 163.05 at 140.93 next. On the upside, above 146.26 minor resistance will turn intraday outlook neutral and bring consolidation. But recovery should be limited below 150.35 resistance and bring fall resumption.

"P&F GBPJPY5 Box Size 20X3 or(0.41%) HI/LO
Data 150.354 - 144.325 ~ 0 Month ~ 7.25 Day
Database 1502 records 145.096 (Last Close)
2009-09-18 04~50
2009-09-25 10~55 (GMT+01:00) Paris
BJF Trading Group"

150.40|~2O|||______________________________|-0.03%|4.21%
150.20|~4O|||______________x_o_____________|0.1%|4 .07%
150.00|~6O|||______________x_o_____________|0.24%| 3.93%
149.80|~8O|||______________x_o_____________|0.37%| 3.79%
149.60|~1OO||______________x_o_____________|0.5%|3 .65%
149.40|~12O||o_x___x___x___x_o_____________|0.63%| 3.52%
149.20|~14O||o_x_o_x_o_x_o_x_o_____________|0.77%| 3.38%
149.00|~16O||o_x_o_x_o_x_o_x_o_____________|0.9%|3 .24%
148.80|~18O||o_x_o_x_o_x_o_x_o_____________|1.03%| 3.1%
148.60|~2OO||o___o_x_o___o_x_o_____________|1.17%| 2.96%
148.40|~22O||____o_x_____o___o_____________|1.3%|2 .82%
148.20|~24O||____o___________o_____________|1.43%| 2.68%
148.00|~26O||________________o_____________|1.57%| 2.55%
147.80|~28O||________________o_____________|1.7%|2 .41%
147.60|~3OO||________________o_____________|1.83%| 2.27%
147.40|~32O||________________o_____________|1.96%| 2.13%
147.20|~34O||________________o_x___________|2.1%|1 .99%
147.00|~36O||________________o_x_o_________|2.23%| 1.85%
146.80|~38O||________________o_x_o_________|2.36%| 1.71%
146.60|~4OO||________________o_x_o_________|2.5%|1 .58%
146.40|~42O||________________o___o_________|2.63%| 1.44%
146.20|~44O||____________________o_________|2.76%| 1.3%
146.00|~46O||____________________o_________|2.9%|1 .16%
145.80|~48O||____________________o_________|3.03%| 1.02%
145.60|~5OO||____________________o_________|3.16%| 0.88%
145.40|~52O||____________________o_____x___|3.29%| 0.74%
145.20|~54O||____________________o_x___x_o_|3.43%| 0.61%
145.00|~56O||____________________o_x_o_x_o_|3.56%| 0.47%
144.80|~58O||____________________o_x_o_x_o_|3.69%| 0.33%
144.60|~6OO||____________________o_x_o_x___|3.83%| 0.19%
144.40|~62O||____________________o___o_____|3.96%| 0.05%
144.20|~64O||______________________________|4.09%|-0.09%
Column|~66O||5_4_6_6_4_4_5_9_20_4_14_4_4_5_3_|
Count|~68O||5_4_6_6_4_4_5_9_20_4_14_4_4_5_3_|


PDF

[MDunleavy]

GBP/JPY's recovery continues further and with 4 hours MACD crossed above signal line, an intraday low should be in place at 146.30. Some sideway trading could now be seen and strong recovery to 4 hours 55 EMA (now at 148.66) cannot be ruled out. But after all, upside is expected to be limited well below 150.30 resistance and bring fall resumption. As noted before, rebound from 136.96 should have completed at 153.21 already. Below 146.30 will target 144.51 first and break will bring retest of 136.96 key near term support.
In the bigger picture, the bearish outlook remains unchanged. That is, medium term rebound from 118.18, which is a correction to the long term down trend from 07 high of 251.90, has completed with a double top reversal pattern (162.56, 163.05). Fall from 163.05 is tentatively treated as resumption of the long term down trend and should target a new low below 118.81 after completing the rebound from 139.69. We'll hold on to the bearish view as long as 61.8% retracement of 163.05 to 136.69 at 154.12 holds [actionforex]

"P&F GBPJPY1440 Box Size4 250X3 or(6.89%) HI/LO
Data 251.09 - 118.785 ~ 48 Month ~ 1477 Day
Database 1050 records 147.803 (Last Close)
2005-11-07 00~00
2009-11-23 00~00 (GMT+01:00) Paris
BJF Trading Group chart"

250.75|~425||________o_x_________________________| 0.14%|111.1%
246.50|~85O||______x_o_x_o_______________________| 1.83%|107.52%
242.25|~1275|______x___x_o_______________________| 3.52%|103.94%
238.00|~17OO|__x___x_____o_x_____________________| 5.21%|100.36%
233.75|~2125|__x_o_x_____o_x_o___________________| 6.91%|96.78%
229.50|~255O|__x_o_x_____o_x_o___________________| 8.6%|93.21%
225.25|~2975|__x_o_______o_x_o___________________| 10.29%|89.63%
221.00|~34OO|__x_________o___o___________________| 11.98%|86.05%
216.75|~3825|__x_____________o___________________| 13.68%|82.47%
212.50|~425O|__x_____________o_x_________________| 15.37%|78.89%
208.25|~4675|__x_____________o_x_o_______________| 17.06%|75.32%
204.00|~51OO|o_x_____________o_x_o_______________| 18.75%|71.74%
199.75|~5525|________________o_x_o_______________| 20.45%|68.16%
195.50|~595O|________________o___o_______________| 22.14%|64.58%
191.25|~6375|____________________o_______________| 23.83%|61.01%
187.00|~68OO|____________________o_______________| 25.52%|57.43%
182.75|~7225|____________________o_______________| 27.22%|53.85%
178.50|~765O|____________________o_______________| 28.91%|50.27%
174.25|~8O75|____________________o_______________| 30.6%|46.69%
170.00|~85OO|____________________o_______________| 32.3%|43.12%
165.75|~8925|____________________o_______________| 33.99%|39.54%
161.50|~935O|____________________o_x___x___x_____| 35.68%|35.96%
157.25|~9775|____________________o_x_o_x_o_x_o___| 37.37%|32.38%
153.00|~1O2O|____________________o_x_o_x_o_x_o_x_| 39.07%|28.8%
148.75|~1O62|____________________o_x_o_x_o___o_x_| 40.76%|25.23%
144.50|~11O5|____________________o_x_o_x_____o_x_| 42.45%|21.65%
140.25|~1147|____________________o___o_x_____o___| 44.14%|18.07%
136.00|~119O|________________________o_x_________| 45.84%|14.49%
131.75|~1232|________________________o_x_________| 47.53%|10.91%
127.50|~1275|________________________o_x_________| 49.22%|7.34%
123.25|~1317|________________________o_x_________| 50.91%|3.76%
119.00|~136O|________________________o___________| 52.61%|0.18%
114.75|~14O2|____________________________________| 54.3%|-3.4%
Column|~1445|1_9_3_5_2_2_7_4_104_175_10103_3_5_3_|
Count



BJF-Trading-Group-091123_gbpjpyMix.xls

[MDunleavy]

GBP/JPY's recovery extended further to as high as 146.89 last week. But after all, it's still limited by 147.43 resistance and we're holding on to the bearish view. That is, choppy recovery from 141.99 is treated as correction to fall from 149.15 only. A break below 143.12 minor support will suggest that such recovery is completed and will flip intraday bias back to the downside. Further break of 141.99 will target 139.26 support next. However, note that break of 147.43 will dampen this immediate bearish view and suggest that rise from 139.26 is still in progress for another high above 149.15 before completion.[actionforex]

"P&F GBPJPY1440 Box Size4 40X3 or(7.08%) HI/LO
Data 250.2 - 122.42 ~ 48 Month ~ 1477 Day
Database 1050 records 145.761 (Last Close)
2005-12-05 00~00
2009-12-21 00~00 (GMT+01:00) Paris
BJF Trading Group chart"

250.80|~44O||__________x_______________________|-0.24%|104.87%
246.40|~88O||______x___x_o_____________________|1. 52%|101.27%
242.00|~132O|______x_o_x_o_____________________|3. 28%|97.68%
237.60|~176O|__x___x_o___o_x___________________|5. 04%|94.09%
233.20|~22OO|__x_o_x_____o_x_o_________________|6. 79%|90.49%
228.80|~264O|__x_o_x_____o_x_o_________________|8. 55%|86.9%
224.40|~3O8O|__x_o_______o_x_o_________________|10 .31%|83.3%
220.00|~352O|__x_________o___o_________________|12 .07%|79.71%
215.60|~396O|__x_____________o_x_______________|13 .83%|76.12%
211.20|~44OO|o_x_____________o_x_o_____________|15 .59%|72.52%
206.80|~484O|o_x_____________o_x_o_____________|17 .35%|68.93%
202.40|~528O|o_______________o_x_o_____________|19 .1%|65.33%
198.00|~572O|________________o_x_o_____________|20 .86%|61.74%
193.60|~616O|________________o___o_____________|22 .62%|58.14%
189.20|~66OO|____________________o_____________|24 .38%|54.55%
184.80|~7O4O|____________________o_____________|26 .14%|50.96%
180.40|~748O|____________________o_x___________|27 .9%|47.36%
176.00|~792O|____________________o_x_o_________|29 .66%|43.77%
171.60|~836O|____________________o_x_o_________|31 .41%|40.17%
167.20|~88OO|____________________o___o_________|33 .17%|36.58%
162.80|~924O|========================o=x===x===|34 .93%|32.98%
158.40|~968O|________________________o_x_o_x_o_|36 .69%|29.39%
154.00|~1O12|________________________o_x_o_x_o_|38 .45%|25.8%
149.60|~1O56|________________________o_x_o_x_o_|40 .21%|22.2%
145.20|~11OO|________________________o_x_o_x_o_|41 .97%|18.61%
140.80|~1144|========================o===o=x=o=|43 .73%|15.01%
136.40|~1188|____________________________o_x___|45 .48%|11.42%
132.00|~1232|____________________________o_x___|47 .24%|7.83%
127.60|~1276|____________________________o_x___|49 %|4.23%
123.20|~132O|____________________________o_x___|50 .76%|0.64%
118.80|~1364|____________________________o_____|52 .52%|-2.96%
Column|~14O8|3_8_3_5_1_2_7_4_105_113_9_5_10105_|
Count



BJF-Trading-Group-GBPJPY_4h30min_091221.xls

[MDunleavy]

GBP/JPY

The GBP/JPY pair succeeded in achieving the expected bearishness yesterday, seen on the secondary four-hour chart. We still believe that additional downside movements could be witnessed over intraday basis, supported by the previous explained Elliott scenario. A break of 139.90 will confirm and accelerate the suggested negative scenario.
The trading range for the week is among key support at 135.50 and key resistance at 144.15.
The general trend is to the downside as far as 167.40 remains intact with target at 116.00.
Support: 140.00, 139.25, 138.60, 137.90, 137.25
Resistance: 141.00, 141.50, 142.25, 142.75, 143.45
Recommendation Based on the charts and explanations above our opinion is, selling the pair with a breakout below 139.90 targeting 137.60 and stop loss above 141.60 might be appropriate.[Written by ecPulse.com]

"P&F GBPJPY1440 Box Size 425X3 or(6.89%) CLOSE
Data 251.09 - 118.81 ~ 92 Month ~ 2809 Day
Database 2000 records 140.061 (Last Close)
2002-06-04 00~00
2010-02-11 00~00 (GMT+01:00) Paris
BJF Trading Group chart"

250.75|~425||_____________________________________ _______________|0.14%|111.05%
246.50|~85O||____________________________x________ _______________|1.83%|107.47%
242.25|~1275|____________________________x_o______ _______________|3.52%|103.9%
238.00|~17OO|________________________x___x_o_x____ _______________|5.21%|100.32%
233.75|~2125|________________________x_o_x_o_x_o__ _______________|6.91%|96.74%
229.50|~255O|________________________x_o_x_o_x_o__ _______________|8.6%|93.17%
225.25|~2975|________________________x_o_x_o___o__ _______________|10.29%|89.59%
221.00|~34OO|________________________x_o_______o__ _______________|11.98%|86.01%
216.75|~3825|________________________x_________o__ _______________|13.68%|82.43%
212.50|~425O|____________________x___x_________o_x _______________|15.37%|78.86%
208.25|~4675|____________________x_o_x_________o_x _o_____________|17.06%|75.28%
204.00|~51OO|________x___x___x___x_o_x_________o_x _o_____________|18.75%|71.7%
199.75|~5525|________x_o_x_o_x_o_x_o___________o_x _o_____________|20.45%|68.13%
195.50|~595O|x___x___x_o_x_o_x_o_x_____________o_x _o_____________|22.14%|64.55%
191.25|~6375|x_o_x_o_x_o___o_x_o_______________o__ _o_____________|23.83%|60.97%
187.00|~68OO|x_o_x_o_x_____o______________________ _o_____________|25.52%|57.39%
182.75|~7225|x_o___o_x____________________________ _o_____________|27.22%|53.82%
178.50|~765O|______o______________________________ _o_____________|28.91%|50.24%
174.25|~8O75|_____________________________________ _o_____________|30.6%|46.66%
170.00|~85OO|_____________________________________ _o_____________|32.3%|43.09%
165.75|~8925|_____________________________________ _o_____________|33.99%|39.51%
161.50|~935O|_____________________________________ _o_____x___x___|35.68%|35.93%
157.25|~9775|===================================== =o=x===x=o=x=o=|37.37%|32.35%
153.00|~1O2O|_____________________________________ _o_x_o_x_o_x_o_|39.07%|28.78%
148.75|~1O62|_____________________________________ _o_x_o_x_o___o_|40.76%|25.2%
144.50|~11O5|_____________________________________ _o___o_x_____o_|42.45%|21.62%
140.25|~1147|_____________________________________ _____o_x_____o_|44.14%|18.05%
136.00|~119O|===================================== =====o=x=====o=|45.84%|14.47%
131.75|~1232|_____________________________________ _____o_x_______|47.53%|10.89%
127.50|~1275|_____________________________________ _____o_x_______|49.22%|7.31%
123.25|~1317|_____________________________________ _____o_x_______|50.91%|3.74%
119.00|~136O|_____________________________________ _____o_________|52.61%|0.16%
114.75|~14O2|_____________________________________ _______________|54.3%|-3.42%
Column|~1445|4_3_3_4_6_3_3_4_4_3_5_3_9_4_6_5_3_115 _163_9_103_3_6_|
Count



BJF-Trading-Group_Excel_Chart

[MDunleavy]

Trade Idea: GBP\JPY - Sell-Limin at 133.20; Target: 126.10 ; Stop: 135.00
================================================== =======================
The GBPJPY attempted to push higher yesterday, topped at 134.79 but whipsawed to the downside, bottomed at 131.82 and hit 130.40 earlier today in Asian session. The bias is bearish in nearest term testing 129.89 area. However price is already in oversold area so watch out for potential upside correction testing 133.00 resistance area. Break above that area could lead us into no trading zone as direction would become unclear but the main scenario remains to the downside and I still prefer short on rallies strategy at this phase.

"P&F GBPJPY1440 Box Size400X3 or(6.49%) HI/LO
Data 251.09 - 118.785 ~ 92 Month ~ 2812 Day
Database 2001 records 131.555 (Last Close)
2002-09-06 00~00
2010-05-19 00~00 (GMT+01:00) Paris
BJF Trading Group chart"



BJF-Trading-Group_Excel_Chart