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#gbpjpy#forex

GBPJPY Potential Up Trend ContinuationGBPJPY is forming a bullish trend, marked by higher highs and higher lows on the 1H timeframe. Recently, it broke and closed above the 195.600 resistance zone, a level that had been tested multiple times. Following this breakout, the market could surge toward the upper boundary of the channel. Given the choppy market behaviour since the beginning of October, this breakout could potentially be significant. The target is the resistance zone around 196.900
Long
by RTED_Investing
GBP/JPY Eyes a Long Setup After Retesting 180.000 Demand AreaThe GBP/JPY currency pair has recently revisited the critical 180.000 level, which has proven to be a significant demand zone. This area has effectively absorbed the selling pressure, leading to a notable price rebound. The interaction at this level suggests that the market is recognizing this zone as a strong support, and the downtrend that previously dominated may be losing steam. The price action at 180.000 has halted the bearish momentum, indicating that the pair might be gearing up for a reversal. As selling pressure diminishes, buyers appear to be stepping in, which could set the stage for a new bullish phase. Given the strength of the rebound, we are closely monitoring this area for a long setup, aiming for a return to the 200.000 level. This potential bullish move is supported by the significant bounce from the demand zone, suggesting that the GBP/JPY pair may have found a solid foundation to recover from. The long setup we’re considering at this point is focused on capitalizing on the anticipated upward trajectory, as the pair stabilizes and positions itself for a climb back to previous highs around the 200.000 mark. This area could be the launchpad for a sustained recovery, offering an attractive opportunity for traders looking to ride the bullish reversal. ✅ Please share your thoughts about GBP/JPY in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
Long
by FOREXN1
9
GBPJPY: Medium term correction.GBPJPY is bullish on its 1D technical outlook (RSI = 59.018, MACD = 1.270, ADX = 45.334) but on a decreasing rate as the aggressive rise has taken a pause and the price, despite inside a Channel Up since August, has turned sideways since October 4th on the 4H MA50. We expect the bearish wave of the Channel Up to start any day now. Even though the previous targeted the 0.618 Fib, we will aim for the 0.5 this time (TP = 190.000) as the decline may start a little higher than the current price. Keep in mind that the best trigger to sell will be a 1D MACD Bearish Cross. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
GBPJPY Pull back signalGBPJPY is trading on a Channel Up but has turne sideways recently, indicating a potential top. The last major formation has been a Death Cross (1d) and last time we had one was on January 17 2023. The similarities between the two patterns are strong. The MA200 (1d) is holding for now, if it breaks it will be the sell trigger for the trade. Trading Plan: 1. Sell if the MA200 (1d) breaks. Targets: 1. 188.600 (above the 0.786 Fib). Tips: 1. The RSI (1d) is also trading inside a Channel Up and also portrays similar attributes as the 2023 fractal. Please like, follow and comment!!
Short
by TradingBrokersView
GBPJPY Potential Trend ContinuationThe market is currently testing a key psychological support level at 193.000 after a period of consolidation following recent bullish momentum. If GBPJPY closes above the 194.000 level, it could indicate continued upward movement, setting the stage for a retest of the resistance zone above this level. Given the recent bullish sentiment, a clear break and close above 194.000 would likely signal further bullish moves, potentially pushing the price toward higher levels within the resistance zone. The target is the resistance at 194.500
Long
by RTED_Investing
GBPJPY Bullish Continuation Breakout OpportunityGBPJPY price is breaking a credible resistance zone. If the price action is able to print a convincing Higher High, it may be a signal towards a proper Bullish breakout and a potential new ALL TIME HIGH may become more likely. After the Bulls surf the potential wave till TP1, a probable opportunity may arise for the Bears in the form of a probable Harmonic reversal from key Fibonacci Harmonic price levels which increases the importance of moving SL to Break Even if TP1 hits. Till then, opportunity may be seized by the Bulls. Trade Plan: Entry @ 197 Stop Loss @ 192.3 TP1 @ 201.7 TP2 @ 206.4 No. of Trades: 2 Move SL to Break Even if TP1 hits.
Long
by SalaarBT
GBP/JPY Maintains Bullish Momentum: Eyeing Long-Term GainsThe GBP/JPY pair continues to show bullish potential, despite its neutral correlation with GBP/USD. While both pairs involve the British Pound, their price movements are not strongly linked, allowing them to behave differently even under similar macroeconomic influences. As highlighted in our previous analysis (see link below), the GBP/JPY had a promising chance to grow, and the pair has now reached the 190.000 area, where we opened a long position. Current Strategy: Targeting 197.200 Our initial target for this long position is set around 197.200, a critical resistance area. In our last forecast, we moved the Stop Loss (SL) to breakeven, ensuring that any adverse price movement will not result in losses. This update reaffirms the likelihood of a long continuation for the GBP/JPY pair, with potential for further gains if the market remains supportive following today’s FOMC Minutes. Possible Scenario: Partial Profit Taking and Next Supply Zone If the price hits the take profit level after the release of the FOMC Minutes, we may consider closing 50% of the position to lock in some gains, allowing the remaining portion to run toward the next supply zone around 202.000. This strategy balances profit-taking with the potential for additional upside movement. Conclusion: Bullish Outlook Intact The GBP/JPY continues to align with our forecast, and we are watching for a potential long continuation as the pair approaches key technical levels. With the next supply zone around 202.000, there is room for the pair to extend its rally. We remain optimistic and will manage the trade accordingly, with a focus on maximizing gains while protecting the position. Looking for further long continuation. Forecast N.1 Forecast N.2 Both in Profit. ✅ Please share your thoughts about GBPJPY in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
Long
by FOREXN1
1
GBPJPY: Bull Flag to start a great rally.GBPJPY is neutral on its 1D technical outlook (RSI = 54.480, MACD = 0.880, ADX = 34.811) as it's been basically consolidating since last Friday with the price ranging around the 1D MA50 and 1D MA200. This consolidation is being done while the 1D RSI shows a Bullish Divergence in a Channel Up. Last time this happened was in March 2023, a Bullish Flag that pushed the price later aggressively to the top of the 2 year Channel Up. We turn heavily bullish on GBPJPY (TP = 220.000). See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
GBPJPY: Inverse Head and Shoulders calls the bottom.GBPJPY got oversold on its 1D technical outlook (RSI = 28.124, MACD = -0.770, ADX = 29.222) as it was rejected today on the 1D MA50. On Sep 16th it touched the bottom of the long term Channel Up and rebounded, while the 1D RSI has been on a bullish divergence. We expect this bottom to be in the form of an Inverse Head and Shoulders. We are aiming for the 1D MA200 and the 0.5 Fibonacci level (TP = 150.500). See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
1