Get started

Gbp-jpy

Riding the Waves: Anticipating GBP/JPY's Next Move Over the NextOver the past couple of weeks, I've been making a series of small long buys. Looking ahead, I've got my sights set on GBP/JPY for the next 3-5 weeks, with a target at 185.89477. Now, here's the deal - if you zoom in on the shorter time frames, things might seem a bit bearish, but when you zoom out using the weekly, there's this bullish wave that's still in motion. That 185.89477 level, well, it's like this zone of imbalance that needs to be hit to restore some balance in the markets. Sure, there might be some more downward pressure, but I'm thinking that over the next 3-5 weeks, this trade's going to unfold as planned. As for the risk management part, I'm going without a stop loss for now. Instead, I'm keeping an eye on the clock and the overall market structure. That's the game plan! 📈🕒 #ForexTrading #GBPJPY
Long
by GlobalHorns
2
GBPJPY BUY | Day Trading Analysis With Volume ProfileHello Traders, here is the full analysis. Watch strong action at the current levels for BUY. GOOD LUCK! Great BUY opportunity GBPJPY I still did my best and this is the most likely count for me at the moment. Support the idea with like and follow my profile TO SEE MORE. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝 Patience is the If You Have Any Question, Feel Free To Ask 🤗 Just follow chart with idea and analysis and when you are ready come in THE GROVE | VIP GROUP, earn more and safe, wait for the signal at the right moment and make money with us💰
Long
by TheGrove
4
GBPJPY Head and Shoulders sell signalThe GBPJPY pair gave us a nice low risk sell trade last time we looked at it (see chart below): This time it gives an even stronger one as it is on the 1W time-frame in the midst of a Head and Shoulders (H&S) formation. That is a bearish pattern calling for a a test of Support at 176.500. Most likely by the time of the test, the 1W MA50 (blue trend-line) will be very close to provide the first level of long-term Support. Notice that the 1W RSI is on Channel Down pattern similar to the April - August 2021 H&S and so does the 1W MACD which is coming off a Bearish Cross. That pattern eventually hit its Support once completed. ------------------------------------------------------------------------------- ** 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, Huge Wedge-Formation, Bullish Volume, BREAKOUT Setup!Hello There! Welcome to my newest idea about GBPJPY from several timeframe perspectives. Within recent times the volume demand within the pair has increased massively, especially as the GBP pair part keeps on being bullish despite an increased high interest rate structure. The trend did not reverse meaning there is a strong bullish edge that is determined by the fact that liquidity demand within the GBP region is showing great strength. Now, I have detected the most important levels and considerations to consider within the next time. Especially, with the major underlying structures and upcoming potentials this setup is likely to convert into a worthwhile opportunity. From the 4-Hour timeframe perspective, the GBPJPY price action is holding above important support zones determined by the 182.5 to 183.2 level in which GBPJPY already bounced several times. Especially marking the previous bullish momentum bounce above these important levels and now building the whole formation above the main supports this is marking a strong base from where further advancements are almost inevitable. Taking this into perspective GBPJPY has this major descending trend line in which it already bounced several times and now bounces again. From the 1-Hour timeframe perspective GBPJPY is forming this major inverse head-shoulder formation with the right shoulder now being completed and bouncing within the whole support cluster structure marking a final bounce to confirm the completion of the inverse head-shoulder and confirming target zones above the upper boundary of the bigger descending continuation wedge. The fact that this is also marking two major confirmations is making the structure much more bullishly inclined. When the appropriate momentum holds on then the GBPJPY pair is going to move into the next stages of expansion. From the daily timeframe perspective GBPJPY is building this gigantic ABC wedge count with the wave C to emerge when the breakout above the upper boundary of the wedge formation has emerged. This final breakout and the origin of the wave C is going to activate target zones of 195 to 200 within the whole wave count. Especially, when the breakout is determined with high volume and an increased demand liquidity within the GBP region this is going to add to an extra momentum to complete the whole formation and is going to increase the potential for the massive expansion wave to inevitable high conditions. The next time , the final breakout is going to initiate the completion of the whole formation. Because of the significance of this whole wedge setup and the high potential expansion setup, I am going to keep the symbol on my watchlist and re-evaluate the situation again once changes emerge. In this manner, thank you everybody for watching my analysis of GBPJPY. Support from your side is greatly appreciated. VP
by VincePrince
14
GBPJPY: Small rebound expected to be a perfect sell entry.GBPJPY got flatly rejected on our last idea as it peaked on the HH trendline and crossed under the 1D MA50 (chart at the bottom of the analysis). Even the Channel Up broke downwards and the 1D technical outlook is bearish (RSI = 38.762, MACD = -0.520, ADX = 38.784) officially. A new Channel Down has emerged, which shifted the 4H MA50 to a Resistance after the September 6th breakdown. Our trading approach includes waiting for the next 4H MA50 contact, sell it and target a new LL. As you see the 2.0 and 3.0 Fibonacci extensions almost match the S1 and S2 levels respectively. Our targets are formulates accordingly (TP1 = 180.400, TP2 = 177.000). Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
1
GBPJPY 24/9/23GJ to kick things off on this fine Sunday evening! After a news powered shift lower we put in a new SWL and SWH which created our current sell range, iam looking for our low to be ran but overall we do have a high level of liquid above our current highs so iam looking for a early sweep to fuel us lower. in an ideal world id love to see a tap into our swing poi but iam not sure we will see this before we trend deeper in our current direction. Remember to always read order flow and follow what price is showing you instead of trading based on your desired direction. And, as always, stick to your risk and your plan. We'll be closely monitoring market openings and price action throughout the week. If you find this analysis useful, let us know in the comments below and hit the boost button to show your support. Here's to a successful week of trading!
by PipSurfingSociety
GBPJPY Turning bearish until the end of the yearThe GBPJPY pair crossed under the MA50 (1d) again and is approaching the MA100 (1d). We have a Rising Resistance peak pattern, which is very much like that of May 2021. In fact the whole fractal since its begining (2021) is very similar to today's (since 2023). This most likely turns the pair bearish inside a Megaphone for the remainder of the year. Trading Plan: 1. Sell every rise to the top (dashed line) of the Megaphone. Targets: 1. Lower Lows until the price hits the MA200 (1d). Tips: 1. The RSI (1d) also shows high symmetry between the fractals. It peaked on the first Higher High of the Rising Resistance, breached the MA50 (1d) when the RSI was near 40.00 and made the second Higher High (and peak) around the 70.00 mark. Please like, follow and comment!! Notes: Past trading plan:
Short
by TradingBrokersView
1
GBP/JPY Faces Diverging Central Bank Views and UK DataGBP/JPY Faces Diverging Central Bank Views and UK Data Introduction The GBP/JPY pair continues its upward trajectory during the Asian session on Wednesday, hovering around the 184.00 level. As the pair extends its gains, it faces a confluence of factors, including diverging central bank views and upcoming UK data releases, which could impact its direction in the near term. BoE's Cautious Approach The Bank of England (BoE) has adopted a more cautious stance recently, as highlighted by Governor Andrew Bailey's remarks. Bailey mentioned that the central bank is approaching the peak of the rate hike cycle. This cautious tone comes despite persistent inflationary pressures in the UK. The BoE faces a delicate balancing act, as aggressive interest rate hikes could potentially pose risks to the British economy. The central bank must carefully navigate the trade-off between controlling inflation and ensuring economic health and stability, which can have implications for the British Pound (GBP). Changing Rate Expectations Market expectations have shifted significantly regarding the BoE's monetary policy. Overnight-indexed swaps, as of Tuesday, suggest that the central bank might exit negative interest rates as early as January. This marks a notable change from the market's expectations after the July policy meeting, which pointed to an exit from negative rates in September 2024. These evolving rate expectations reflect the changing economic conditions and central bank guidance, potentially impacting the GBP/JPY pair. BoJ's Comments Adding to the complexity of the situation are recent comments by Bank of Japan (BoJ) Governor Kazuo Ueda. Ueda hinted at the possibility of eventually ending the central bank's negative interest rate policy if economic data continues to improve by the end of the year. However, it's essential to consider that before making significant policy changes, the BoJ needs to be confident in achieving its 2% inflation target and rising wages. While Japanese inflation has temporarily exceeded the 2% target, there are concerns that it may fall below BoJ targets in the coming months. This suggests that expectations of imminent rate adjustments may be premature, and the central bank will likely assess economic conditions and inflation trends carefully. Upcoming UK Data Market participants are eagerly awaiting mid-tier data figures for July from the United Kingdom, scheduled for release later in the day. These datasets, including Gross Domestic Product, Industrial Production, and Manufacturing Production, offer insights into economic activities in the UK and could impact the GBP/JPY pair. Conclusion The GBP/JPY pair faces a complex landscape shaped by diverging central bank views and upcoming economic data releases. The cautious approach of the BoE, coupled with evolving rate expectations, contrasts with the BoJ's recent comments, creating uncertainty for the pair's direction. As investors await the UK data releases, the GBP/JPY pair may experience volatility, and its future trajectory will likely depend on the interplay of these factors in the coming days. Our preference Below 184.800, expect 183.235 and 182.600.
Short
by FOREXN1
24
GBP/JPY Forecast: Analyzing the Future OutlookThe asset in question is currently adhering to a prevailing downtrend, exhibiting a prolonged phase of consolidation. Notably, it has recently dipped below the support level observed in the previous two weeks, located at the 184 area. In the upcoming sessions, our strategy revolves around the potential for a price rebound, targeting the 180.4 threshold as a prospective entry point for short-selling positions. We will closely monitor price behavior at this level; should it maintain resistance, we anticipate a subsequent descent, with an objective set to ride the downward momentum towards the 182.7 area.
Short
by Blackerberg