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Gbp-jpy

GBPJPY remains mixed and volatile.GBPJPY - 24h expiry A Doji style candle has been posted from the base. Price action looks to be forming a bottom. We are trading at overbought extremes. This is positive for short term sentiment and we look to set longs at good risk/reward levels for a further correction higher. Further upside is expected although we prefer to buy into dips close to the 180.65 level. We look to Buy at 180.65 (stop at 179.85) Our profit targets will be 182.65 and 183.05 Resistance: 182.10 / 183.35 / 184.60 Support: 178.00 / 175.15 / 173.60 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
GBPJPY Strong rally if the MA50 (1d) breaks.GBPJPY is trading inside a Bullish Megaphone pattern with the price testing now for the 2nd time the MA50 (1d). This test is coming only 3 days after the price hit the bottom of the Megaphone. The previous bottom formations have been very similar to the current pattern. Trading Plan: 1. Buy when the pair closes a (1d) candle above the MA50 (1d). Targets: 1. 190.000 (Fibonacci 1.236 extension). Tips: 1. The RSI (1d) has made a Double Bottom formation over the oversold level of 30.00. Please like, follow and comment!! Notes: Past trading plan:
Long
by TradingBrokersView
GBP/JPY Analysis – Moving Averages and Supply/Demand Bearish PerHello traders, GBP/JPY has presented a potential bearish scenario amidst recent developments in the 50 and 100 Simple Moving Averages (SMA), coupled with supply and demand dynamics. Keep in mind that the upcoming Bank of England (BOE) interest rate decision on Thursday could influence the analysis, and traders should remain vigilant. The 50 SMA has recently crossed below the 100 SMA, signaling a potential bearish momentum shift. This crossover could indicate a trend reversal or the beginning of a downtrend. Supply and Demand: Entry Points: Current Price (Market Entry): Given the recent bearish crossover, consider entering a short position at the current market price for potential continuation. 183.430 Level (Pending Entry): Another entry point could be around 183.430, aligning with a potential retracement to the moving average resistance. Take Profit Points: 1st: Set the first take-profit point at 176.360, which aligns with a significant support level. This level could pose a challenge for further downward movement. 2nd: The second take-profit point is set at 180.400, considering potential resistance and supply in that region. Risk Management: Place stop-loss orders above key resistance levels or recent swing high please. Evaluate risk-reward ratios before entering trades and adjust position sizes accordingly.
Short
by AliSignals
5
GBPJPY Technical Analysis 19.12.2023 1h chart– Previous Daily candle closed small Bullish around 180.550 within the recent Daily range as price consolidates on the lower timeframe. – Buys on close above 181.100 targeting 4h Resistance around 181.560, Leaving Runners to the 30min Resistance formed around 181.950. – Sells on close below 180.070 targeting 1h previous Resistance formed on 14th December 2023 around 179.370, Leaving Runners to the 1h Support formed around 179.010. – High Impact News ahead of the Asian session for the Japanese Yen for review on interest rates, Monetary Policy Meeting Minutes, Monetary Policy Statement, Bank Of Japan Policy Rate followed by Bank Of Japan Press Conference, High Volatility expected
by SalimFX20
GBPJPY Potential DownsidesHey Traders, In the upcoming week, our focus will be directed towards GBPJPY, where we are actively observing a potential selling opportunity within the 181 zone. Presently, GBPJPY is navigating a downtrend, indicative of a sustained downward momentum. Within this broader trend, the currency pair is currently undergoing a correction phase, steadily approaching the trend at the significant 181 resistance area. The correction phase in GBPJPY introduces a dynamic element to the market, offering the prospect of a strategic entry point for sellers. The 181 resistance area holds particular importance due to its historical significance as a level where price movements have previously elicited substantial reactions. Traders will closely monitor this critical juncture in anticipation of signals that may inform their selling decisions in the coming week. Trade safe, Joe.
Short
by JoeChampion
GBPJPY to turnaround?GBPJPY - Intraday Posted a Bullish Hammer Bottom on the Daily chart. This is positive for short term sentiment and we look to set longs at good risk/reward levels for a further correction higher. Preferred trade is to buy on dips. Although the anticipated move higher is corrective, it does offer ample risk/reward today. Further upside is expected although we prefer to buy into dips close to the 180.22 level. We look to Buy at 180.22 (stop at 179.42) Our profit targets will be 182.22 and 182.62 Resistance: 182.10 / 183.35 / 184.60 Support: 180.30 / 178.00 / 175.15 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
GBPJPY: Strong 1D MA200 buy opportunity.GBPJPY remains bearish on the 1D timeframe (RSI = 34.266, MACD = -0.180, ADX = 42.349) despite today's rebound following yesterday's bottom near the S1 level. The key here is that this bottom was made very close to the 1D MA200, which hasn't been crossed since April 6th. The 1D RSI almost got oversold for a moment (near 30.000) yesterday, so all indicators point towards a rebound. We are bullish, targeting 188.00. If we get a 1D candle closing over the R1 level (188.660), we will rebuy and aim foe the HH trendline (TP = 190.000). See how our prior idea has worked: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
1
GBPJPY Cyclical sell opportunityIt's been quite long since we had a short-term trade (see chart below) on the GBPJPY pair: This time we found an excellent long-term sell opportunity on the 1W time-frame. As you can see it is cyclical in nature having emerged by the rejection of the price on the Higher Highs trend-line of the 4-month Ascending Triangle. The cyclical characterization stems from the comparison with the October 18 2021 rejection on a similar Ascending Triangle Higher High trend-line. The whole structure of the two fractals looks very much alike as they both started off with an aggressive expansion phase that led to the Triangle. The Higher High rejection then, led to a 1W MA50 (blue trend-line) test. We are aiming for that same 1W MA50 test, expecting it to make contact with the bottom of the Ascending Triangle at 178.500. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
GBPJPY: Expecting further strengthPound has been in a long term downtrend, however breaking weekly highs and general sterling strength I believe we will see momentum continue to build an push this pair up to monthly highs. I think the Yen will start to improve against the dollar due to dollar weakness, this generally means that other crosses perform well against it, and we're seeing this with the likes of the Aussie. I'm seeing a rising dynamic trendline on the 4HR that I believe will be tested and respected, so I'll likely be going in on a LTF confirmation around the rising trendline.
Long
by Finchcliffe
GBPJPY: Trend is still bullishFrom a technical point of view, the trend is bullish on intraday chart, and OANDA:GBPJPY pair could trigger another bullish leg in the short term. If we look on 1H chart, the price remains within a narrow trading range, and this means volatility compression. In this technical context, if the price remains above 184.552 a breakout on the bullish side should be logical. If this happens, we will need to look for potential Targets and in this case the formation of a Harmonic Pattern could help us. If we look at the harmonic structure (for us it's bullish) in the window, we see 2 Targets: 186.34 and 186.83 . HARMONIC PATTERN ZOOM ========================== TRADING STRATEGY ================= If this analysis is correct, wait for the completion of wave 1 and try to take a long position on retracement, with stop loss below wave 1 or better below 184.552 Trade with care Like | Share | Comment
Long
by TheAnonymousBanker
12
GBPJPY possible reversal After price broke our daily high with momentum,it began to gradually retrace back into an internal structure demand that caused the break of this high. It tapped it,luring in early buyers before it smashed through it with momentum. This signaled a potential shift of internal structure direction as the demand zone was invalidated. We get more confirmation from observing that there is clear double bottom liquidity that was left behind, together with a huge imbalance below it. These are all things that price will have to eventually target and now could be the time because our daily high liquidity was swept, so the failure of the demand zone could result in a flip that would surely push price deep down to clear all internal liquidity and imbalances left behind during higher timeframe expansion.
Short
by BlackTygaTrades
1