GBPJPY Trade Analysis

 

Current Trend: Sideways range.

 

Support Levels: 138.23.

 

Resistance Levels: 141.20.

 

GBPJPY Daily Chart

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GBPJPY Trade Ideas

Price action on the daily chart of the GBPJPY is now trading in a fairly choppy sideways range pattern.

Whilst the momentum has been slightly higher, the price action has been very choppy.

Looking to find trades from the major daily chart levels looks the best play in this pair whilst the chop continues.

The two major levels of interest are the daily chart support and resistance. If price can rotate lower into the daily chart support level we could begin to look for potential long trades. The other potential trade is looking for price to move and breakout of the swing high and recent resistance that could activate potential long trades.

 

GBPJPY 4 Hour Chart

 

EURJPY Trade Analysis

 

Current Trend: Sideways range.

 

Support Levels: 125.76.

 

Resistance Levels: 126.75.

 

EURJPY Daily Chart

 

EURJPY Trade Ideas

Similar to the GBPJPY, the EURJPY is also trading in a sideways range pattern.

The difference with this pair is that the sideways range is very contained and price is trading within a tight box.

This tight range makes it incredibly hard to find new high quality trades just at the moment.

Normally high quality range trades can be found from the range high and low, but because this pair has such a small range it makes it a high risk and low reward potential trade.

The best play looks to be waiting for clearer price action and for price to clear out of this ranging price action.

 

EURJPY 4 Hour Chart

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I hunt pips each day in the charts with price action technical analysis and indicators. My goal is to get as many pips as possible and help you understand how to use indicators and price action together successfully in your own trading.