Vladimir Ribakov analyzes GBP/JPY across multiple timeframes, showing a bullish trend with higher highs and lows. He expects the pair to rally toward a rising resistance line, with a trading plan focused on buying pullbacks while protecting key lows before a deeper correction eventually arrives.
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Hey guys, how are you? Vladimir here from Home Trader Club, and in this video I want to follow up on our pound yen that we started to follow a couple of weeks ago. So let's begin. Before we start, big thanks to Eightcap Broker for supporting the community and the channel. To enjoy all the offers we have together with Eightcap Broker. And get your access to the trading systems, the private mentoring, to the club, and any of our projects, please refer to the link below this video in the description. So a couple of weeks ago, we were talking analyzing the pound yen, and we were talking about buying the dips anticipating to see the pair achieving new highs. If you missed this video, please make sure you watch it. You can find it right now on the right top corner of this video. Direct link, or of course you can find it in the channel where we were analyzing the pound yen. So going back to where we started, and let's see where do we stand today. I believe the pound yen is approaching. I'll start with the monthly, not because I'm going to trade it, just to explain the the way I see that. I believe the pound yen eventually should be doing some sort of duplication of these two waves. And in a long run achieve this significant zone of sellers. Until then, my bullish view remains on. And if we take a look on a quick observation of what is happening on the weekly chart, we are building up the waves. Everything still is bullish, okay? And despite the divergence that we already experienced here, The market never managed to break this down. I was expecting to see if it breaks down to see some correction and then continuation. However, this low was never broken. The structure of the higher highs, higher lows was and remains on, which puts the bullish pressure on. So the way I see that the pound yen should complete this rally. Very possibly somewhere around the rising resistance line until this divergence will indeed be completed. We will get some deeper pullback and then again to join the monthly trend. And that's what we are riding. That was the whole idea I shared with you a couple of weeks ago— buy the pullbacks. And the way I see that, we still— we're still bullish and we still should see the daily going and forming this divergence as well, and the daily will start to do that, and then the weekly will follow up, and so on. So at the moment, on the 4-hour chart, what we did have is the beautiful sort of, I would say here, ranging structure, and it was broken upside, and right now we are gaining momentum and the price is and basically establishing itself above the balance zone based on the Volume Profile indicator. And currently there are no signs against this rally. There are higher highs on the chart, higher highs on the indicators, beautiful synchronization. So as long as that holds and as long as we are holding the key lows by the dips Should well, it was the plan and should remain the plan. So for those of you are already riding this one, phenomenal, fantastic. Just keep going. For those who are not, look on the short-term pullbacks to join this momentum until and again, if there will be no surprises, of course, it's it's market and everything could happen, especially with manipulated pair like the pound, like the yen. Right? But if there will be no surprises, we should start to see the four-hour chart doing the fake highs and divergence. Then the daily divergence go and develop accordingly, and then the weekly one once it completes. Then and only then, I believe we should be experiencing a deeper correction. So that's a quick follow-up on the pound yen. If you find value in this video, please don't forget to hit the like button and feel free to share this video with anyone who you believe can. Benefit watching it, of course. And I would like to invite you to our trading family, the Home Trader Club. Enjoy all our trading courses, real-time opportunities, education, live sessions, community chat, and so much more. Join our family with the link below this video in the description. Meanwhile, thanks for watching. Best to you and yours. I'll see you soon with more. Good trading. Bye for now.
