GBPJPY Trade Analysis

 

Current Trend: Uptrend.

 

Support Levels: 141.22.

 

Resistance Levels: 142.69.

 

GBPJPY Daily Chart

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GBPJPY Trade Ideas

Price action on the GBPJPY is now trading in a fairly steady trend higher.

As the attached daily chart shows, price has recently broken higher and out of a key resistance level. This level had been holding strongly as a higher time frame resistance with three rejections.

Now price has moved through this level we could look for it to act as a new role reversal and support level.

If price can make a quick retrace back lower we could look for new potential long trades and for price to make a new extended leg higher.

Long trades from this role reversal support would be inline with the trend and from a key daily chart support level.

 

GBPJPY 4 Hour Chart

 

USDCHF Trade Analysis

 

Current Trend: Intraday range.

 

Support Levels: 0.8823.

 

Resistance Levels: 0.8919.

 

USDCHF Daily Chart

 

USDCHF Trade Ideas

Whilst the overall trend on the USDCHF is lower, on the intraday charts such as the 4 hour time frame we can see a range beginning to form.

As the attached 4 hour chart shows, there is now a pretty clear cut range starting to form. There is a clear range high resistance and range low support area that are in play.

Whilst these levels continue to hold I will be looking to trade both sides of the market from both the range high and low.

If price continues the move back lower into the range support level, then I will start looking for bullish price action for new potential bullish range trades to get long.

 

USDCHF 4 Hour Chart

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Pip Hunter
Pip Hunter

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.