Open trading account 
GBPJPY is around 4000 pips down from highs of 192.21 reached in June 2015. This pair continues to go down with no real signs of retracement as both British Pound and US Dollar losing ground against JPY and as a result this pair is in free fall. 154.72 is last line of support and we may expect retest of this support level this week. It would be interesting to see how price reacts to this level, any impulsive breakout of this level could pave way for 147.75 level.
alifari's Blog
DAY 10 - GBPJPY TRADE UPDATE
Entered a trade on GBPJPY today at 1 hour supply zone. Was expecting some bearish reaction from this zone, but GBPUSD was flying today and USDJPY hardly moved and as a result price broke out the supply zone with force and hit my stop loss. Didn't lost much on this trade as the trade size was around 2 Million so around 13K lost on this trade and the balance is back around 100K.
DAY 12 - GBPJPY ANALYSIS
It's been quite a volatile week as far as GBPJPY price action is concerned. The pair opened the week with a 150 pips down gap which was filled the same day and then again the bearish trend resumed and the pair dropped around 650 pips on concern of Greece & Chinese stock market meltdown.
However, as the week progressed there were some glimmer of hope of a positive solution to Greece issue. Plus there was no negative fundamental news coming out of U.K. and as such the pair recovered quickly and cl…
However, as the week progressed there were some glimmer of hope of a positive solution to Greece issue. Plus there was no negative fundamental news coming out of U.K. and as such the pair recovered quickly and cl…
DAY 12 - TRADES UPDATE
"You have to know your setups and their probabilities. Then, once you see them you must act with conviction and without hesitation"
Couple of trades triggered and closed today. One winner and one loser, but the important thing is both trades were taken with pre-planned stop loss and take profit and both trades closed without any interference, once trade was triggered.
Trade 1: GBPJPY sell limit order triggered last night. The trade was based on Daily supply zone and after such a huge bullish mo…
DAY 8 - GBPJPY ANALYSIS
Since last two weeks GBPJPY remain quite choppy and there is no real direction or hint of price action to suggest which way price is likely to move. So that best option is to wait for either the resistance or support to hit and look for price action on lower time frames to initiate a trade.
The resistance between 181.00 to 181.65 looks an important one and I am expecting strong rejection on retest of this zone. Whereas the support at 175.50 should create some buying opportunities.
The resistance between 181.00 to 181.65 looks an important one and I am expecting strong rejection on retest of this zone. Whereas the support at 175.50 should create some buying opportunities.
DAY 4 - GBPJPY TRADE UPDATE
GBPJPY buy limit order triggered yesterday. The trade was based on H4 demand zone at 184.05, stop loss was placed below H4 support level at 183.45 and take profit was set around 1.8490 level. Was expecting bullish reaction from this demand zone and a retest of resistance, but there was lack of buying interest at this zone and price eventually hit my stop loss. Trade result -60 pips loss.
Quote --- "If you can’t keep of the right mind set to survive losing, you will not make it to the winning. “…
Quote --- "If you can’t keep of the right mind set to survive losing, you will not make it to the winning. “…
DAY 30 - GBPJPY TRADE UPDATE
I placed a sell order on GBPJPY yesterday based on false breakout of resistance and price coming back below the resistance level. Take profit was set at 200 pips from entry and price hit my target today. Wasn't expecting such volatility this week, but quite happy with the way things turned out.
As a result of this profitable trade, my ranking have gone up from 120th to 14th position and with just one trading day to go, I will try my level best to get in top 10.
I would also like to wish Dukascop…
As a result of this profitable trade, my ranking have gone up from 120th to 14th position and with just one trading day to go, I will try my level best to get in top 10.
I would also like to wish Dukascop…
DAY 27 - GBPJPY ANALYSIS
We have seen quite an impulsive bullish reaction from 181.65 level as price pushed higher more than 500 pips, since then price is consolidating in a tight range and I am expecting 188.75 Daily supply zone to hold pushing price down towards SR flip level at 185.15. As such I would be looking for shorts at 188.75 and longs at 185.15.
GBPJPY PRICE FORECAST FOR AUGUST 1ST 2014
GBPJPY: My technical analysis is based on Supply / Demand and Support / Resistance.
1) Daily Chart
2) H4 Chart
Price Target 171.50 for 1st August 2014
1) Daily Chart
2) H4 Chart
Price Target 171.50 for 1st August 2014