GBPJPY Areas of Interest

[Petez_FX]

Here are my thoughts on GBPJPY.

We have been trending upwards nicely since the 18th of March, so I would expect this to continue. You can see on the chart that we have broken a zone of consolidation that lasted for 12 trading days.

My confluences for the buy at 134.70:
200 4H EMA, 4H TL (third touch), strong resistance broken (turned to support)

My first target will be the purple box at 136.00. I will aim to take some profit here. Should we see a clean break at this level, I may look to buy again, targeting 137.00. This is where I will look to take full profit, and will aim to take sells as this is a strong key level of resistance and a psychological number of 137.00.

Let me know what you think below. Cheers.

 

[DT77]

Just bought some today, on it!!!

 

[Zack King]

thanks for sharing this mate, good stuff. seems like a buy to me having looked at the chart

 

[momo3HC]

I`m long here since 134.18

 

[K_Robdog]

It’s looking very close to the 50.0 Fib level (around 136 on my chart). I’m going to be watching it here in case we see another leg down.

 

[sebking1986]

Nice analysis. Absolutely shot up and doesn't look like it's done yet