News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bullish
GBP/USD
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
USD/JPY
Mixed
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.89%, while traders in EUR/GBP are at opposite extremes with 65.56%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/7tkZBRqU8Z
  • Heads Up:🇺🇸 Fed Evans Speech due at 17:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-09-24
  • After an aggressive stimulus-driven rally drove prices in equities throughout the summer, a bit of uncertainty has begun to enter the equation. Get your #equities market update from @JStanleyFX here::https://t.co/mwy35kvLtv https://t.co/thSFEF50Px
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Silver: 0.35% Gold: 0.32% Oil - US Crude: 0.15% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/G2fyCxsb3V
  • UK virus cases rise by 6,634, most since start of pandemic $GBPUSD
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.18% 🇬🇧GBP: 0.11% 🇪🇺EUR: 0.05% 🇳🇿NZD: -0.08% 🇨🇭CHF: -0.24% 🇦🇺AUD: -0.33% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/ZclQDTTkBp
  • Fed's Bullard says we may see a near full recovery by end of year for U.S. - BBG
  • Get your Thursday market update from @DailyFX Chief Strategist @JohnKicklighter 👇 https://t.co/gvNcFyaEgi
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: US 500: 0.58% Wall Street: 0.32% FTSE 100: 0.27% Germany 30: 0.25% France 40: 0.24% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/LjcobPBA2W
  • $AUDJPY is down a ninth consecutive session, but the pace isn't exactly the tempo that suggests a loaded spring. Seems some of the risk-sensitivity is coming back to these wayward carry pairs https://t.co/1TKXXBricC
GBPJPY Price Reversal Update

GBPJPY Price Reversal Update

2014-10-15 14:25:00
Walker England, Forex Trading Instructor
Share:

Talking Points

  • GBPJPY opens in a 140 Pip Range
  • Range Resistance Sits at 170.91
  • Range Reversals Triggered Under 168.80

GBPJPY 1Hour Chart

GBPJPY Price Reversal Update

(Created using FXCM’s Marketscope 2.0 charts)

New to FX Reversals? Suggested Reading: Trading Intraday Market Reversals

The market is buzzing this morning with a slew of bad U.S and U.K economic releases. This has caused pairs such as the GBPJPY to increase in volatility. As of the printing of this article, the pair is still trading inside of its daily 140 pip trading range, testing both range support and resistance. Currently price is trading off of range support found at the S3 Camarilla Pivot a price of 169.51. The current range then can be completed by identifying the R3 pivot at a price of 170.91.

As long as price respects support and resistance, traders can look for reversal opportunities inside of the identified range. However, if a breakout occurs traders will then begin looking for a resumption of the pair’s daily trend under the S4 Camarilla pivot at price of 168.80. A move above R4 resistance at 171.62 would also suggest a shift in market momentum. In either of these instances, traders should look to conclude any range bound positioning and look to trade with the markets new direction.

GBPJPY Price Reversal Update

---Written by Walker England, Trading Instructor

To Receive Walkers’ analysis directly via email, please SIGN UP HERE

To contact Walker, email instructor@dailyfx.com.

Contact and Follow Walker on Twitter @WEnglandFX.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES