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Gbp-jpy

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
GBPJPY, H4 | Potential bounce?Price is dropping towards a major support level at 161.77 which is an overlap support and a 50% Fibonacci retracement. We could potentially see a bounce from here to take prices up to the resistance level at 163.83. In terms of stop loss, we could keep it tight below the swing low spike at 161.08 to get a healthy R:R. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
Long
by Rockqet
4