GBPJPY Update: The Bulls Are in Full Control – What’s Next?
What’s great, everyone! We’re back with another GBPJPY update, and it’s January 24, 2025. The market has been playing out exactly as we anticipated, and we’ve been capitalizing on every move with precision.
If you’ve been following our breakdowns, you’ll remember that on January 17, we entered a long position at the 192.97 level. Some asked if this level would break, and I confidently said yes. Why? Because every retest of the 192.43 structure level held firm, showing strong buying interest. Once we got a confirmed break and close above 193.34 with volume, we knew the next leg higher was coming.
Today, we took another long position after an H4 candle closure, targeting the highs at 194.69, which are well within reach. Beyond that, we’re eyeing the 198.10 and 198.85 levels as the market continues to respect the current range. As I always say, the market ranges 75-80% of the time, and knowing how to trade within these areas is key to consistent profits.
Looking at the weekly chart, we see a powerful bullish candle forming with strong volume. If it closes this way, I’ll continue looking for buy opportunities up to the range highs. However, if we see weakness or a wick forming at the top, we’ll reassess.
Key levels to watch:
• Support: 192.43 (previous structure hold)
• Targets: 194.69 (hit), 198.10, and 198.85
• Potential pullback areas: 194.00 for a re-entry opportunity
As always, the market seeks liquidity, and our entries have been positioned strategically to capture these levels. If you haven’t seen the previous breakdowns, check them out to understand the full picture of this trade.
If you’re enjoying these updates and want more in-depth breakdowns, make sure to boost the post, follow, and share with your fellow traders. Stay tuned for the next update as we continue to dominate GBPJPY!
See you in the next one – peace!
If you’ve been following our breakdowns, you’ll remember that on January 17, we entered a long position at the 192.97 level. Some asked if this level would break, and I confidently said yes. Why? Because every retest of the 192.43 structure level held firm, showing strong buying interest. Once we got a confirmed break and close above 193.34 with volume, we knew the next leg higher was coming.
Today, we took another long position after an H4 candle closure, targeting the highs at 194.69, which are well within reach. Beyond that, we’re eyeing the 198.10 and 198.85 levels as the market continues to respect the current range. As I always say, the market ranges 75-80% of the time, and knowing how to trade within these areas is key to consistent profits.
Looking at the weekly chart, we see a powerful bullish candle forming with strong volume. If it closes this way, I’ll continue looking for buy opportunities up to the range highs. However, if we see weakness or a wick forming at the top, we’ll reassess.
Key levels to watch:
• Support: 192.43 (previous structure hold)
• Targets: 194.69 (hit), 198.10, and 198.85
• Potential pullback areas: 194.00 for a re-entry opportunity
As always, the market seeks liquidity, and our entries have been positioned strategically to capture these levels. If you haven’t seen the previous breakdowns, check them out to understand the full picture of this trade.
If you’re enjoying these updates and want more in-depth breakdowns, make sure to boost the post, follow, and share with your fellow traders. Stay tuned for the next update as we continue to dominate GBPJPY!
See you in the next one – peace!
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.