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Gbp-jpy

Charting 8 Currencies: A Weekly Forex Analysis and CPI PreviewIn this week's Tradingview analysis, I've examined eight individual currencies and marked off key levels, support/resistance, and trendlines. These charts help me gauge the strengths and weaknesses of different pairs, which I'll be keeping an eye on for the week. However, the fundamental landscape is also worth watching, especially with the upcoming CPI event. Last week's NFP data was mixed, with some numbers beating expectations while others missed. Traders are now looking to Tuesday's CPI data to get a clearer sense of the market's direction. If the CPI data is a miss, we may see upside in risk assets and downside in the dollar. On the other hand, a beat in CPI could trigger the opposite response. Here's a brief rundown of each currency: USD: The 4H chart suggests an uptrend, but a break of the support level could lead to further downside. Reclaiming the key level could signal a continuation of the upside move. GBP: Recent price action hit a resistance zone, and I expect a pullback. I'll be watching the key level around the 50% fib for a potential bounce or downside move. EURUSD: The current uptrend may continue, but breaking the trendline and key level could trigger a downside move. JPY: Price is at an interesting juncture. Breaking the pattern and key level could give it more momentum to the upside, but failing to do so could push price down to the second key level. Watching the US10Y for further downside momentum is also important because it can add strength to the JPY. CHF: Recent price movements seem stretched, and I'll be watching for any pullback or price action at the prior resistance level. AUD: The 4H candle just broke and closed below the prior support level, indicating potential downside. A reclaim of the prior support level could indicate a false break. NZDUSD: Our support level is currently holding. If it breaks, we may see a downward move. However, a breakout above our trendline and key level would suggest a possible bullish move. CAD: There's currently downside pressure on the CAD. Watching the key level 2 for a potential reversal or further downside move. Wishing you all the best of luck in your trades, and I hope this breakdown provides some valuable insights.
by natron
8
GBPJPY Potential Forecast | 8th March 2023Fundamental Backdrop 1. Upcoming GDP q/q for the GBP releasing this Friday. 2. A positive print and above forecast will set the GBP for some bullish pressure. 3. Overall, due to interest rate differential and the difference in monetary policy stance of BOE and BOJ, GBP continues to appreciate against the JPY. Technical Confluences 1. Price has officially tapped into the H4 support at 161.91. 2. Price continues to form higher highs and higher lows. 3. Anticipate for price to tap into the H4 resistance level at 166.04. Idea I will be looking for price to continue its bullish momentum and for a break of structure on the lower timeframe which will serve as a confirmation for my long entry.
Long
by OlympusLab
1
GBPJPY More Downside, Watch For Sell On GBPJPY, we can expect more bearish price action to confirm the downside. What I like about the price action is we have ascending channel reversal, within the larger correction that is correcting the previous bearish impulse phase. We can see price has already started ts bearish move from the top of structure, and has already formed a continuation correction to break out of the ascending channel. Expecting more downside, wait for more bearish continuation corrections on the lower time frame to confirm more drop.
Short
by jojofang0901
3
GBPJPY remains a long.GBPJPY - Intraday - We look to Buy at 163.10 (stop at 162.50) Although the bears are in control, the stalling negative momentum indicates a turnaround is possible. This is positive for sentiment and the uptrend has potential to return. Levels close to the 61.8% pullback level of 163.03 found buyers. The hourly chart technicals suggests further downside before the uptrend returns. Further upside is expected although we prefer to buy into dips close to the 163.00 level. Our profit targets will be 164.60 and 164.90 Resistance: 163.75 / 165.70 / 168.55 Support: 161.75 / 159.30 / 155.35 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Long
by OANDA
1
GBPJPY - Trend-Following Buy Setup!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst. on H4: Left Chart GBPJPY is overall bullish trading inside the blue channel. So we will be looking for trend-following buy setups on lower timeframes. on H1: Right Chart GBPJPY is stuck inside a range around the lower blue trendline acting as a non-horizontal support. 🏹 Trigger => for the bulls to take over, we need a momentum candle close above the last high in gray. Meanwhile, until the buy is activated, GBPJPY can still trade lower till the green support zone. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Long
by TheSignalyst
22
GBPJPY a new bullish leg 🦐GBPJPY on the 4h chart after the break of the resistance area fetches the 50% move and s currently trading below the structure at the 164 level. As we know all the pairs but mostly the JPY ones are reacting very well to the round and half-round numbers and being in a bullish scenario we still be long for a long order. How can i approach this scenario? I will look for a clear break of the resistance structure and IF the price will satisfy the Plancton's strategy i will set a nice long order.
by InkyGrip
12