GBP/JPY Update: Hourly, H4 and Daily Charts

The pair is at support, almost touch 38.2% Fibonacci retracement of 118.8 to 163.06 at 146.16. The outlook remain bearish as long it stay below channel. Getting back inside the channel will turn the outlook to short term retracement to test the resistance. Target remains at 50% Fibonacci level at 141 area. Cable has been moving in negative correlation with USD/JPY most of this week, and we saw GBP/JPY stucked in between, resulting in volatile swings. Therefore, we need careful approach for the pair.

GBP/JPY D1 Chart

GBP/JPY H1 Chart

GBP/JPY H4 Chart

GBP/JPY Daily & H1 Chart: What A Week..

So, after 4 days of consolidation, the pair break the support trendline and drop to 150.48 before closing the week at 150.99. I added a trendline since my last post. On daily TF, we can see that the 23.6% Fibonacci level proved to be a strong resistance. The breakout also give assumption that the pair would have another move to test the support levels (see D1 chart).

GBP/JPY H1 Chart

GBP/JPY D1 Chart

GBP/JPY: There is the Breakout

The pair has just broken the support trendline and I'm hoping to see a test to 151 support, which is the AB projection from C. The pair almost broke the resistance earlier actually, with the QQE indicator also breaking the trendline. However the price failed to give a clear breakout and I decided not to enter.

Ok now, the outlook is bearish, but choppy movement should be anticipated while Cable still moving north. Have a nice day guys..

GBP/JPY: New Channels In Hourly Chart

Since the pair has broken the downtrend channel, we gotta need new chart setup. Right then.. here you go. Please look at the screenshot. I started by connecting PL (previous low) and HL (higher low) to get the current uptrend trendline. Next, I draw trendline from PH (previous high) to HH (higher high). Then I make a parallel trendline of PH-HH from PL to get an equidistant channel. Wow..I'm a bit confused myself :D Bear with me for a minute ok. I also draw another trendline from HH to LH (lower high), and put a parallel one from PH (previous high) to create another channel. Phiuuhh... Man.. that was exhausting.. Maybe its better if you just take a look at the screenshot ;P Happy trading guys!

GBP/JPY H1 Chart: Sell No More

The downtrend channel on hourly chart was broken again for the second time yesterday. The 30 EMA has crossed above 50 EMA also. However, the pair did make a lower low since my last post. Support for now is the Wednesday low at 149.02. I don't know the pair direction for now while the it still seems like a downtrend in 4 hour and 1 day time frame. The latest NFP will be release later on US session. Ok! Got to go now. ;D

GBP/JPY H1 Chart: At Resistance Trendline

GBP/JPY seems to find its support for now at 151.05. The pair has been retrace since and reach the upper trendline which give opportunity to sell again. Stop loss is limited to around 153.29 (current high & 50% retracement). First target is 151.05 and, hopefully, break that support until 146.8x :) See the chart and my previous post ok! Byee..

GBP/JPY : Break Below

Using my last chart setup, the pair has broken the trendline in Daily as well as in H4 candles. Below are the screenshots. Nothing change about the target, which still around the next support near 38.2% Fibonacci retracement at 145.86. Risk can be limited to yesterday high around 153.55. I think its about time to see a strong trend after sideway since August 17. I certainly hope so :) I'm off from my laptop for an internship interview until euro session I think. Ok, thats all. Happy trading guys!

Daily Chart

H4 Chart

GBP/JPY H1 Chart: Going Down?

The pair reached the resistance trendline and could go down to the support trendline. 30 EMA also still below 50 EMA. You can also see that the QQE indicator crossed above and below 50 level in this kind of market movement. The range seems to tighten up in H1 chart, which is kind of exiting for me. Why? Because after this we can expect a breakout in either way and hope for a nice movement :) Meanwhile, lets enjoy the sideway shall we..

Closed: The Shorts Went Good

I closed the GBP/JPY position at 149.15 after it touch the lower channel on hourly chart. The pair broke the channel literally a few seconds after I closed it :P I quickly opened another position and closed it with 66 pips. So, it turned out that the second attempt to sell GBP/JPY ended well. As I mentioned in my previous post, the target can be more way down at 145.50 or 143.60 area. So I will look for 30 EMA signal on hourly chart to enter another short position.

GBP/JPY H1 Chart

I also entered EUR/USD after I realized that the price was near 1.3587, which is 50% Fibo retracement (yellow) of 1.4718 (December high) to 1.2456 (March low). The pair broke a minor trendline on hourly chart and I closed it at 1.3406, few pips above 38.2% retracement (blue) of 1.3113 (March 30 low) to today's high at 1.3580. There is a long signal on 4 hour chart actually with stop loss around 1.3265 but I think I'll wait until the pair touches or near another trendline below. Below is the chart. Happy trading!

EUR/USD H1 Chart

Entry: GBPJPY Buy Signal

I entered GBP/JPY at 136.69 (yellow circle), based on the 30 EMA system on daily time frame. The pair also touched the support trendline (magenta) at 135.70 area and bounce for almost 200 pips at the moment. Retest to 135.70 area is very possible. The first target upside is the 38.2% retracement of 215.85 to 118.80 at 155.87. Next target are 50% retracement at 167.32 and 61.8% retracement at 178.78. Stop loss level is below the trendline.

Entry: Added GBPUSD to the Portfolio

GBPUSD touch 1.3654 this week but soon bounced to 1.38 area. I opened a position at 1.3812 with Stop Loss at 1.3494 low. I think it's a good price to buy the pair. First target will be 38.2% retracement area around 1.6428 and 50% retracement level around 1.7331 next. 13 EMA has just crossed above the 21 EMA on 4 hour time frame but the QQE indicator hasn't completely cross above the 50 level. Below is the picture.

Trade: Cut Loss EU, Closed GJ 121 Pips (7 Jan)

I enter short EU on 7 January morning Indonesian time at 30 EMA. The pair turned on bullish after going down until 1.3433, about 90 pips from my entry price. My target was 1.3380. I decided to cut loss even my stop loss was not broken yet because of the 5,13,21 EMA crossover and QQE cross 50 level. I exit after the price move closer to my entry point so the loss was not too big, which was 51 pips.


I also entered long on GJ at 30 EMA. Entry point and stop loss shown in the chart below. The uptrend has been going for 4 days actually and a trend change is very possible. However I kept entering because the channel was already broken. In addition, my previous analysis on H4 and daily chart supported my decision. It was a nice trade actually. The pair test the previous high again immediatly. My exit also shown in the chart below.

GJ: H1, H4 and Daily Chart

I skip GJ signal today because I think that the risk is to big (green yellow line). The pair touch 30 EMA after breaking the red channel. As you see, the pair tested the resistance again after it touched the 30 EMA. Either on hourly, 4 hour or daily chart, the pair may keep on bullish. However, fundamental factor should be consider since it is NFP week. I also added 50% retracement level (yellow Fibo) on H4 chart. On daily chart, it closed above 30 EMA and the initial resistance should be around the green yellow line shown on daily chart.

H1 Chart

H4 Chart

Daily Chart

The channels (red and lime) are broken on H1 chart. 142 is the the target and 148.xx is the next. I kind of regret that I chose not to enter :( Well.. another day maybe ;) Ciao!!

EU Update: Closed Above 30 EMA

EU daily candle closed above 30 EMA shown in the chart below (blue circle). It turned out that the moving average provided some support for yesterday. Today, the pair still trying to break it with movement already reach 50% Fibo retracement (yellow Fibo) of 1.2328 to 1.4718. I wonder if the pair can closed above the 30 EMA again. Okay, just wanna update yesterday's post. I'll post GJ chart update later OK! Happy trading guys.. :)

Trade: Closed EU 51 Pips

I trade EU today at the following signal shown in the picture below. I forgot to put the limit order actually, but I enter near the 30 EMA after the price touched the 30 EMA. I set my target at the previous low which is 51 pips with Stop Loss level around 1.3985/95.


On H4 chart, the pair has break the 38.2% Fibo retracement level (yellow Fibo) and almost reach the first target at 50% retracement (yellow Fibo) 1.2328 to 1.4718. On daily chart, the price cross below 30 EMA at the moment and we'll see if the 30 EMA can provides strong support. The weekly chart suggests that the down trend has resumed after price touched 50% Fibo retracement (red Fibo) of 1.6037 to 1.2328.

H4 Chart

Daily Chart

Weekly Chart

EU: Time to Sell

The pair has retest previous high and reach as high as 1.4361 today. 50% Fibo level (red Fibo) was broken earlier on H4 chart but retrace below the level again for the moment. The day (FxPro server) isn't over yet but it seems that the 50% Fibo level (red Fibo) has provided a strong resistance. Below are the charts. The pair seems to form a head and shoulder formation. I also add AB=CD projection which is near the target mentioned on my last post about EU (50% yellow Fibo). Time to sell? Maybe. The thing is that the price needs to break the neckline first to be sure and indicators on H4 chart still shouting my name, told me to buy. Okay, I'm sleepy already. Bye, see you guys next year :)


One more thing. HAPPY NEW YEAR !!

GBPJPY: Target Reached

The pair has reached the target mentioned on earlier post and a retracement is in progress at the moment. Below is the H4 and H1 chart. The purple TL is the current trend since the price touched the upper channel. If the price can break current trend (purple TL), then I expect a further movement up. The ongoing strong retracement is clearer at H1 chart. The candle closed above the high of the previous candle. I'm sure there is a name for that kind of candlestick formation, but I forgot ;P Anyway, I just wanted to share these analysis and I did not trade any from this analysis (trying to be consistent with 1 system :P). My next move is to order sell limit at 30 EMA on H1 chart. Thats all, bye.

GBPJPY: Lower TL Broken?

Below is GBPJPY H4 chart. Using the chart from my previous post, the pair has just closed below the channel (blue circle). The target is another trendline below (red trendline). Trade on your own risk :)

Head Start: EUR/USD & GBP/JPY

Hi guys, notice that 800 pips spike on EU weekly chart?? The pair closed 200 pips below 50% level and just below 30 EMA. I don't think it will open above the resistance also. I add Fibonacci retracement of 1.2328 to 1.4718 (yellow Fibo) where we can see that it almost reached 38.2% retracement. I expect it to reach 50% retracement (yellow) first by next week.

GJ find its support at the last trading day this week. I drew a channel on H4 (green lines) and H1 (red lines). On 1 hour chart, it seems that it broke the trendline, but we'll if the pair open above it tomorrow. On 4 hour chart, the support line from two previous lows has been respected and give an opportunity to trade with better risk/reward ratio (targeting upper channel & SL below lower channel). Below are the charts.

Thats all for Head Start session. See you next week :)

EU Chart Update: Closed Above or Below?

EU retraced today after reached 61.8% retracement of 1.6037 to 1.2328. The price even stay below 30 EMA on the weekly chart at the moment. Below is EU weekly chart.

In my opinion, EU will continue south if it close below 30 EMA or 50% retracement. However, it also might retest 50% retracement before doing so. Therefore, we may see another spike next week. First target on downside is the support line shown on the chart. QQE cross also streghten my analysis since it usually signal a change in direction. I do not expect a retest to 1.2328 low, or at least until it breaks the support line on the chart. 

If EU close above 30 EMA or 50% fibonacci level, then I expect a move to 61.8% Fibo level again or until QQE yellow line is near 50 level. I do not aware of any fundamental factors that give a bullish sentiment for euro economic condition. Many company will need dollar to pay their liabilities and American MNC will have to consolidate their earnings at the end of the year.

I  also didn't and perhaps will not open a position regarding this analysis. I need to save the margin for GBP/JPY trades;P So, trade on your own risk okay :) 

See ya..