Bearish reversal off 50% Fibonacci resistance?GBP/JPY is rising towards the pivot which has been identified as an overlap resistance and could reverse to the 1st support.
Pivot: 190.68
1st Support: 187.74
1st Resistance: 193.06
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GBPJPY
GBP/JPY on the 45-minute timeframe ,GBP/JPY (British Pound / Japanese Yen) on the 45-minute timeframe.
Chart Analysis:
• Trading Plan: The chart highlights an “ENTRY ZONE”, indicating a potential buying area.
• Potential Movement: The green triangle suggests that the price might move upwards toward 190.372 or 190.889.
• Rejection Points: Certain areas where price faced selling pressure (marked with green circles) indicate previous resistance levels.
• Support Level: The zone between 188.772 - 188.950 acts as support, where the price might bounce back up.
This chart seems to follow a breakout or bounce trading strategy, where buying is expected in the “ENTRY ZONE” with targets around 190+ levels.
GBPJPY H1 I Bullish RiseBased on the H1 chart analysis, the price is falling our buy entry level at 189.11, a pullback support.
Our take profit is set at 189.99, a pullback resistance that aligns with the 61.8% Fibo retracement.
The stop loss is placed at 188.20, a swing low support level.
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GBPJPY: Channel Down on its new bullish wave.GBPJPY is bearish on its 1D technical outlook (RSI = 41.292, MACD = -0.960, ADX = 36.514) as since the February 13th LH and rejection near the 1D MA50, it was been on its new bearish wave. The 1D RSI doesn't give a buy signal until it hits its S1 Zone, so we remain bearish on this pair with a typical TP = 185.500, unless the RSI hits S1 first, in which case you'll be encouraged to take profit earlier.
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Trading minute impulseOn the minute timeframe of GBPJPY at the moment we have the completion of the impulse formation. If the price continues to move in the direction of the impulse and the support zones do not allow it to overcome the base of the impulse, it may reach the targets 1 and 2. If the price fails to advance in the direction of the momentum and overcomes the support zone at the base of the momentum, it is very likely that the price will move sideways or against the direction of the momentum. @fxopen
USDCHF Bullish Flag: Breakout Potential Toward 0.92USDCHF is currently trading at 0.899 and forming a bullish flag pattern, signaling a potential breakout toward the 0.92 target. The bullish flag is a strong continuation pattern that occurs after a sharp upward move, followed by a consolidation phase. If the price successfully breaks above the flag’s resistance, it could trigger a new bullish wave, driving USDCHF higher.
Technically, the bullish flag suggests that buyers are accumulating positions before the next breakout. A confirmed breakout above the flag’s upper trendline, with increased volume, could validate the uptrend. Traders should watch key resistance zones and look for strong bullish candlestick formations to confirm the breakout momentum toward 0.92.
On the fundamental side, the US dollar remains strong due to the Federal Reserve’s stance on interest rates. If economic data from the US continues to show resilience, the dollar could gain further strength against the Swiss franc. Additionally, the Swiss National Bank’s (SNB) monetary policy stance, which has remained relatively dovish, could contribute to CHF weakness, supporting the bullish outlook for USDCHF.
In summary, USDCHF is currently consolidating within a bullish flag, preparing for a potential breakout toward 0.92. A strong move above resistance, combined with bullish fundamentals, could accelerate the upside momentum. Traders should keep an eye on US economic data and risk sentiment to confirm the trade setup.
GBPJPY and USDJPY Analysis todayHello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
GBPJPY jumps above 190.50The GBP/JPY pair climbs to around 190.70 during the early European trading hours on Friday. The British Pound (GBP) gains strength against the Japanese Yen (JPY) following the release of the UK's January Retail Sales data.
The Office for National Statistics reported on Friday that UK Retail Sales rose by 1.7% month-on-month in January, compared to a decline of 0.3% in December. This figure exceeded the market's expectation of a 0.3% increase. On a yearly basis, Retail Sales grew by 1.0% in January, compared to a previously revised increase of 2.8% (originally 3.6%), surpassing the forecast of 0.6%. The GBP remains strong in immediate response to the positive UK Retail Sales figures.
GBP/JPY (British Pound / Japanese Yen) 4-hour analysis,GBP/JPY (British Pound / Japanese Yen) 4-hour analysis on OANDA, incorporating key technical levels:
Key Levels & Zones:
• Entry Zone: 189.198 - 189.241, acting as a potential buy area.
• Support Zone: 187.295 - 187.948, marked in red, indicating a strong support area.
• Resistance Levels:
• 190.374 (first target)
• 191.926 (second target)
• 193.052 (major resistance level)
Price Projection & Analysis:
• The price is currently testing the entry zone, suggesting a potential bounce from this level.
• If the price holds above 189.198, a bullish move towards 190.374 and beyond is expected.
• A break below 187.921 could lead to further downside towards 187.295 or lower.
GBP/JPY Analysis – 1H & Daily TimeframesCurrent Price: ¥188.48
1-Hour (H1) Chart Analysis:
📌 Downtrend in Play – GBP/JPY is trading within a descending trendline (red), showing continuous lower highs and lower lows.
📌 Support Around ¥188.00 – The pair found temporary support near ¥188.00, aligning with the green trendline, indicating potential buying interest at this level.
📌 Resistance at ¥190.00 – The descending trendline and recent price action suggest that ¥190.00 is a key resistance zone. Any upside move could face rejection here.
📌 Indicators:
✔️ Price remains below short-term moving averages, confirming bearish momentum.
✔️ A break above ¥190.00 would be needed to shift momentum toward bullish recovery.
✔️ A breakdown below ¥188.00 could open doors to ¥186.50 or lower.
H1 Prediction:
📉 Bearish Scenario: If GBP/JPY fails to break above ¥190.00, expect further downside toward ¥188.00 and possibly ¥186.50.
📈 Bullish Scenario: A break above ¥190.00 could trigger a rally toward ¥192.00, but strong resistance exists at the trendline.
Daily (D1) Chart Analysis:
📌 Strong Downtrend Since ¥200.00 – GBP/JPY has been in a bearish structure, consistently rejecting from lower highs.
📌 Bearish Wick Rejection – Recent price action shows a bearish wick, indicating selling pressure at higher levels.
📌 Descending Triangle Formation – The pair is forming a descending triangle, with lower highs and support around ¥185.00 - ¥186.00 (blue horizontal line).
📌 Indicators:
✔️ The trend remains bearish as price trades below key resistance levels and moving averages.
✔️ If ¥185.00 - ¥186.00 support breaks, expect further downside to ¥180.00.
✔️ A bullish reversal is possible only if ¥192.00 is breached.
D1 Prediction:
📉 Bearish Scenario: If GBP/JPY continues to reject lower highs, expect ¥186.00 - ¥185.00 to be tested soon. A break below this could send price toward ¥180.00.
📈 Bullish Scenario: A break and close above ¥192.00 would signal a trend shift toward ¥195.00+.
Final Outlook:
🚨 Overall Bias: Bearish
🔸 Short-Term (H1): Watching for a retest of ¥190.00 resistance or further downside toward ¥188.00.
🔸 Long-Term (D1): GBP/JPY remains bearish unless it breaks above ¥192.00.
💡 Strategy:
✅ For sellers: Look for rejections at ¥190.00 and target ¥186.00.
✅ For buyers: Wait for a confirmed breakout above ¥192.00 before considering a long position.
📊 GBP/JPY remains in a clear downtrend—until key resistances break, the trend favors the bears! 🚨
GBP/JPY: Uncertainty and Bearish PressuresGBP/JPY has shown a volatile trend in recent sessions, with a combination of ups and downs highlighting a phase of uncertainty. The last closing on February 15, 2025, at 191.618 marks the beginning of a bearish trend after the doji on February 14. This movement reflects a complex dynamic, where macroeconomic and technical factors play a decisive role in price direction. The recent rebound was supported by positive UK GDP data, which helped the pound recover from bearish pressures over the past months. Notably, on February 12, a reversal of the bearish trend occurred, with GBP/JPY starting to regain ground due to an improvement in market sentiment. Additionally, the strengthening of US inflation negatively impacted the Japanese yen, pushing GBP/JPY up by 1.22% around February 12, driven by a weaker yen following the increased strength of the US dollar. However, despite these positive elements, the Bank of England’s monetary policy has introduced uncertainty, with a dovish stance fueling pressure on the pound. The interest rate cut has raised concerns about further depreciation, negatively affecting GBP/JPY. Added to this is the earlier decline in early February, triggered by disappointing UK economic data and expectations of further BoE interventions, which contributed to a widespread bearish sentiment. From a technical perspective, the price is currently in a consolidation phase between 187.610 and 193.120, with a structure suggesting a possible expansion of volatility in the coming weeks. The key resistance at 193.120 represents a critical obstacle for a potential continuation of the bullish trend, while support at 187.610 remains the main level to watch in case of renewed bearish pressure. A breakout above the 193.50 threshold could confirm further pound strengthening, while a break below 188.00 could reopen scenarios of weakness. With a combination of technical and macroeconomic factors in play, GBP/JPY’s trend remains subject to upcoming BoE decisions and the evolution of global economic conditions, making it crucial to monitor upcoming economic releases to determine the market’s direction.
GBPJPY Analysis TodayHello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
GBP/JPY - Triangle Breakout (Weekly Forecast Feb 24-28)The GBP/JPY Pair on the H4 timeframe presents a Potential Selling Opportunity due to a recent Formation of a Triangle Breakout Pattern. This suggests a shift in momentum towards the downside in the coming hours.
Possible Short Trade:
Entry: Consider Entering A Short Position around Trendline Of The Pattern.
Target Levels:
1st Support – 185.04
2nd Support – 182.94
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GBP_JPY SUPPORT AHEAD|LONG|
✅GBP_JPY is set to retest a
Strong support level below at 187.066
After trading in a local downtrend from some time
Which makes a bullish rebound a likely scenario
With the target being a local resistance above at 189.186
LONG🚀
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GBP/JPY 1-Hour Chart Analysis: Bearish Rejection at 200 EMA! 📊 GBP/JPY 1-Hour Chart Analysis 📉
1️⃣ Trend & Key Levels:
📌 Price is testing the 200 EMA (190.674), acting as resistance.
🔻 Recent price action shows a rejection at this level, suggesting bearish pressure.
2️⃣ Trade Setup (Possible Short Position) 💰:
Entry: Around 190.354 - 190.674 📍
Stop-Loss: Above 190.972 🚫
Take-Profit Target: Around 188.685 ✅
3️⃣ RSI Indicator (Momentum Check) 📉:
📊 RSI at 52.47 → Neutral, slightly bullish.
🔥 55.93 level shows price was overbought recently but is cooling down.
✅ Conclusion:
🔴 If price stays below 190.674, expect a drop toward 188.685.
🟢 If price breaks above 190.972, bullish momentum could continue.
GBPJPY oversold bounce rejectionThe GBPJPY price action sentiment appears bearish, supported by the longer-term prevailing downtrend.
The key trading level is at 192.60. An oversold rally from the current levels and a bearish rejection from the 192.60 level could target the downside support at 189.60 followed by 188.90 followed by 188.27 and 187.12 levels over the longer timeframe.
Alternatively, a confirmed breakout above 192.60 resistance and a daily close above that level would negate the bearish outlook opening the way for further rallies higher and a retest of 194.12 resistance followed by 194.70 levels.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
Trading minute impulseOn the minute timeframe of GBPJPY at the moment we have the completion of the impulse formation. If the price continues to move in the direction of the impulse and the support zones do not allow it to overcome the base of the impulse, it may reach the targets 1 and 2. If the price fails to advance in the direction of the momentum and overcomes the support zone at the base of the momentum, it is very likely that the price will move sideways or against the direction of the momentum.
GBP/JPY SELL IDEA (R:R=5.9)Placed a sell order for G/J at 190.695. We have a beautiful X CRAB that just formed on the 30 minute chart.
Trade with proper risk management please since we have news announcements coming out at 4:30 AM EST today.
GBP-Flash Manufacturing PMI
GBP-Flash Services PMI
Stop Loss: 191.285
Take Profit: 187.200
Happy Trading!
(Japanese Yen) pair on a 3-hour timeframe. chart showing the analysis of a JPY (Japanese Yen) pair on a 3-hour timeframe. Multiple support and resistance zones are marked with red and blue horizontal lines.
Key Observations:
1. Price Movement: The price is in a downtrend and is reacting at a strong support level (around 189.142).
2. Fibonacci & Zones: The chart seems to incorporate Fibonacci retracement or supply/demand zones for analysis.
3. Indicators & Analysis: No specific indicators are visible, but the analysis appears to be based on price action and market structure.
4. Potential Trade Setup: If the price bounces from this level, a reversal may occur. Otherwise, there’s a chance of further downside continuation.