GBPJPY Pending SellGBPJPY Pending Sell
I'm only taking this sell if it breaks my 195.325 level.
If it doesn't break, I can expect it to go to the my next level.
Please wait, until its broken for better results.
Gbp-jpy
GBPJPY - Will the pound continue to weaken?The GBPJPY currency pair is above the EMA200 and EMA50 in the 4H timeframe and is moving in its medium-term bullish channel. If the correction continues to the support range, we can buy with a suitable risk reward. Breaking the resistance range will pave the way for this currency pair to continue its rise.
Pension Reforms in the UK
• Consolidation of Local Government Pension Schemes:
Rachel Reeves, the UK Treasury Secretary, aims to merge local government pension schemes into larger funds (megafunds). This initiative involves pooling the assets of 86 local government pension schemes into a large fund managed by professional investment managers.
• Objective: To increase investment in long-term, high-risk assets, reduce management costs, and strengthen investment in infrastructure and local areas.
• Further Reforms: In addition, Reeves plans to make changes to financial arbitration services and the combined stock market, marking “the most significant pension reforms in decades.”
Inflation Outlook and Interest Rates in the UK
• Comments from Bank of England Member, Mann:
Bank of England member, Mann, warned that substantial volatility in macroeconomic indicators will be seen in the coming years. He suggests that inflation may remain high for an extended period, necessitating a higher neutral rate. Additionally, he noted that lower interest rates compared to high inflation would put more pressure on investments.
Japan’s Support Package and Economic Stimulus
• Budget and Household Support:
The Japanese government has planned a supplementary budget of 13.5 trillion yen (87 billion USD) to fund an economic stimulus package. This budget includes a payment of 30,000 yen to low-income households and 20,000 yen per child in households with children.
• Energy Subsidies: The government will also reintroduce electricity and gas subsidies from January for three months to help households cope with rising fuel and service costs.
Financial Risks and Supervision by the Bank of Japan
• Concerns About Non-Bank Financial Institutions:
The Bank of Japan’s Deputy Governor, Uchida, warned that increased connections between non-bank financial institutions and banks could pose risks to the entire financial system. He emphasized that non-bank institutions handle almost half of global financial intermediation, which requires close attention.
Actions for Stability in Japan’s Currency Market
• Currency Market Intervention:
Japan’s Finance Minister, Katsunobu Kato, stated that appropriate measures will be taken to control severe and one-sided fluctuations in the currency market if necessary. He stressed the importance of sustainable exchange rate movements in line with fundamental principles.
Bearish drop?GBP/JPY is rising towards the pivot which has been identified as an overlap resistance and could drop to the 1st support which acts as a pullback support.
Pivot: 198.26
1st Support: 196.76
1st Resistance: 196.61
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GBPJPY Is Approaching The Main Trend.Hey Traders, in today's trading session we are monitoring GBPJPY for a buying opportunity around 196.500 zone, GBPJPY is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 196.500 support and resistance area.
Trade safe, Joe.
Buy GBP/JPY Triangle BreakoutThe GBP/JPY pair on the M30 timeframe presents a Potential Buying Opportunity due to a recent breakout from a Triangle Pattern. This suggests a shift in momentum towards the upside and a higher likelihood of further advances in the coming hours.
Possible Long Trade:
Entry: Consider Entering A Long Position Above The Broken Trendline Of The Triangle After Confirmation. Ideally, This Would Be Around 197.44
Target Levels:
1st Resistance – 199.20
2nd Resistance – 200.20
Stop-Loss: To manage risk, place a stop-loss order below Support Zone. This helps limit potential losses if the price falls back unexpectedly.
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GBPJPY - Yen will continue its weakness?!The GBPJPY currency pair is above the EMA200 and EMA50 in the 4H timeframe and is moving in its medium-term bullish channel. If the upward movement continues, we can see the supply zone and sell within that zone with the appropriate risk reward.
The BRC retail report in the UK indicated that retail sales in October 2024 only grew by 0.3%, a significant drop compared to the 1.7% growth in September. This decline is attributed to consumers’ caution ahead of Black Friday promotions and school half-term holidays, which were delayed compared to usual.
Helen Dickinson, CEO of the British Retail Consortium (BRC), stated, “After a strong start in autumn, October sales growth was disappointing. Part of this decline was due to the later timing of school half-term holidays, which reduced sales, but it is expected that November will show better performance.” She also noted that consumer sentiment has been affected by uncertainties surrounding future budgets and rising energy costs.
According to the latest Citi/YouGov survey, British households’ inflation expectations for the coming year have reached 3.3%, and long-term household inflation expectations remain at 3.8%. Analysts at Citi Investment Bank suggest that these figures indicate that despite efforts by the Bank of England to curb inflation, public inflation expectations remain high.
In Japan, the government has designed a support plan for the country’s semiconductor industry that involves leveraging assets such as its shares in NTT, with the program spanning several years. Instead of direct subsidies, the plan includes a multi-stage approach. Semiconductor equipment manufacturers receive subsidies while moving towards mass production, and once they reach this stage, the government shifts to other forms of support such as private sector investments and financial guarantees, extending this process until around 2030.
Sakurai, a former board member of the Bank of Japan (BoJ), announced that the central bank is likely to raise interest rates again in the coming months, with January being a potential timing for this action. The aim is to increase short-term interest rates to 1.5% or 2% by the end of Ueda’s term in early 2028.
GBPJPY Channel Up driving the price to 210.000GBPJPY is trading inside a 1hour Channel Up.
The price is currently between the 1hour MA50 and MA200, consolidating after the most recent Higher Low on October 31st.
This is a technical buy opportunity directed towards the top of the Channel Up.
The last two bottom rallies rose by +3.15%. Buy and target 201.000 (+3.15%).
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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.
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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.
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GBP/JPY : Technical Analysis and a signal!hello guys!
it is a risky position!!
Rising Channel:
The price has been trending upward within a well-defined ascending channel. However, it is currently testing the upper boundary of this channel.
Resistance Zone (Red Box):
Strong resistance is seen around the 196.117 level.
The price attempted to break through this resistance but faced rejection multiple times, suggesting a bearish reversal could be imminent.
Support Levels (Green Area):
There’s a key support level of around 187.953.
This support aligns with the lower boundary of the ascending channel, making it a potential target for any upcoming bearish move.
Bearish Momentum:
The price shows signs of weakness as it struggles below the red resistance zone.
A corrective move downwards is expected, with the first target around the 190.000 psychological level, followed by a potential drop to the 187.953 support zone.
Risk-Reward Setup:
The chart shows a clear risk/reward scenario, where a break below the 194.462 zone may trigger a sell-off towards lower levels.
GBPJPY Heading to the Channel's Top. Sell alert.The GBPJPY pair has been trading within a Channel Up pattern since the August 05 bottom. The price is above both the 1D MA50 (blue trend-line) and the 1D MA200 (orange trend-line) and has already made a Higher High on September 27, which was immediately sold by the market.
Based on the previous peak formation of the Channel Up though, we could see a Double Top Higher High rejection in the coming days like the one on September 02. The 1D RSI made a Higher High also before the start of the September Bearish Leg, and right now it hasn't done so.
As a result, we will wait for a short opportunity a little higher and then target the 0.618 Fibonacci retracement level (like the September 11 Low) at 188.800.
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GBPJPY H4 - Short Signal GBPJPY H4
For those that watched the market analysis and live charting video, you would have seen us discuss GBPJPY and the 195 psychological price/sell zone. We have since seen this zone tested and subsequently rejected. How much mileage this setup has... I don't know, but if we can break 194.500, we should see a send lower.
A break and candle close around or below 194.500 is important, breaking this H4 and H1 consolidation, EUR and LON session could certainly be enough to drive this setup where is needs to go.
R2F Weekly Analysis - 6th October 2024 (ICT Concepts)Welcome to another R2F Weekly Market Analysis using ICT Concepts along with my own discoveries. I'm going to go through various assets/markets, and give a real-time view of how I perform my analysis on the weekends. I'll give my take on what has been happening, and what I'm expecting in either the coming days, weeks, or months. Without further ado, let's get into it!
- R2F
GBPJPY One pullback to give before strong rally.GBPJPY is trading inside a CHannel Up since May 2021.
Having a strong correction in July, the price has stabilized on a shorter term Channel Up.
A similar Channel Up was formed after the previous bottom in January - March 2023 and then the price rallied by +20%.
Expect a similar bullish wave. Buy and target 217.00.
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GBPJPYAs per our last mind we asked you guys which pair you want and analysis for. The public has asked for GBPJPY . Here is our view.
As of now, GBPJPY is sitting at our PBA 2 (Pullback Area). If we break above 193.290 (October 1st highs) we will continue to the upside .
However ,
If we break below our PBA 2 192.000 , we could see a downside move to our PBA 1 . Breaks below could also result in lower prices.
We advise you not to enter in any trades until breaks of either 193.290 or 192.000 .
We will send out the update once a break happens.
KEY NOTES
- GBPJPY has fallen to our PBA 2.
- Important levels to break are 193.290 or 192.000.
- Break above 193.290 would confirm higher highs.
- Break below 192.000 would confirm lower lows.
Happy trading!
FxPocket
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).
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GBPJPY H1 - Short SignalGBPJPY H1
This play was huge yesterday, a monster 332 points in total we saw GBPJPY sell off, immediately from the EUR/LON bell too. Those first hourly candles sold off as much as 160 points, offering around 2 to 2.5R in very quick succession. This was really enjoyable to see unfold. No doubt ***GBP pairs as mentioned have be wild to trade recently, especially with the trading antics we saw on Friday, with the 600 point swing.
Lets see what else is offered today, sitting on the side-lines until things start to shake up for us and offer the next entry points.
GBPJPYGBPJPY . Potential long opportunity.
We believe that GBPJPY will continue to the upside after coming down to our PBA (Pull Back Area). Our entry is sitting at the pullback area at 190.402 . We are looking for breaks of 193.289 and 195.862 which would confirm our target 197.500 where our TP is sitting at. Our SL is sitting at 188.127 and if broken, it would result in deeper pullbacks which would not be out of the ordinary based on a weekly timeframe.
PARAMETERS
- Entry: 190.402
- SL: 188.127
- TP: 197.500
KEY NOTES
- GBPJPY has fallen to our PBA.
- Break above 193.289 and 195.862 would confirm higher highs.
- Break below our SL would result in deeper pullbacks.
Happy trading!
FxPocket
Bearish drop?GBP/JPY is rising towards the resistance level which is a pullback resistance that is slightly below the 61.8% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 193.36
Why we like it:
There is a pullback resistance level that is slightly below the 61.8% Fibonacci retracement.
Stop loss: 195.91
Why we like it:
There is a pullback resistance level.
Take profit: 190.36
Why we like it:
There is an overlap support level.
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GBPJPY H8 - Short SignalGBPJPY H8
We have a nice setup here yet again, with our crosshairs on that 193 handle for GBPJPY. Last weeks price movement on Friday was wild, to say the least, over the eastern session we took off 100's of points, before closing the day down towards 190 price. 600 points from top to bottom we saw, from the likes of ***JPY, this was very impressive!
With the exception of the fakeout to the upside, albeit it headline driven, we have now seen a subsequent correction, which takes us back towards that 193.000 handle, a confluence zone and an area we could look to sell.
Stops would be around 50 points at 193.500 covering recent highs, and take profit targets would be every 100 points.
GBP/JPY Weekly PrognosisToday and Tuesdays move will be higher to fill the imbalance above then we will see capitulation to the downside resulting in a bearish week and the early week move up being a top week for the weekly candle.
Overlap support ahead?GBP/JPY is falling towards the support level which is an overlap support that is slightly above the 61.8% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 189.02
Why we like it:
There is an overlap support level which is slightly above the 61.8% Fibonacci retracement.
Stop loss: 186.62
Why we like it:
There is an overlap support level that lines up with the 78.6% Fibonacci retracement.
Take profit: 193.29
Why we like it:
There is a pullback resistance level.
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Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
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).
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