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
GBPJPY H4 - Short Signal GBPJPY H4
We have made a slight adjustment to our trading zone here on GBPJPY. Moving the zone from 195 psychological price, up 60 points to around 195.600. Slight adjustments to accommodate for the recent high press attempts. Supply and resistance no doubt evident on this 195.600 price, stops now covering recent wick high prices of 196.100, with a breathing space of 5-10 points.
We are ranging really nicely here, whilst stops may seem quite large, this is a fast moving pair, and the profit target it also large. This pair has been moving 100’s of points in very quick succession over the past few weeks. The range measures a healthy 200-250 points until support price/TP target.
Formation of an Ascending Triangle Pattern , All Eyes on Buying Hello Traders
In This Chart GBPJPY HOURLY Forex Forecast By FOREX PLANET
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GBPJPY outlookAs we have seen last week the British pound vs Japanese Yen pair was in consolidation phase now in current week we are expecting a bullish move on the pair the reason why is the pair is in bullish trend in H1 in other confluences it has formed a Bullish flag to extent it can consolidate here and can fly also the confluence is the pair has completed its manipulation phase and now could distribute after a liquidity grab
GBPJPY Will Go Lower! Sell!
Take a look at our analysis for GBPJPY.
Time Frame: 3h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 195.006.
Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 194.170 level.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
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GBP/JPY SHORT FROM RESISTANCE
Hello, Friends!
We are going short on the GBP/JPY with the target of 191.668 level, because the pair is overbought and will soon hit the resistance line above. We deduced the overbought condition from the price being near to the upper BB band. However, we should use low risk here because the 1W TF is green and gives us a counter-signal.
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GBP-JPY Local Bearish Bias! Sell!
Hello,Traders!
GBP-JPY made a retest
Of the horizontal resistance
Level of 196.000 from where
We are already seeing a bearish
Reaction and we will be expecting
A further local move down
Sell!
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GBPJPY "The Guppy" Bank Money Heist Plan on Bullish SideBonjour! My Dear Robbers / Money Makers & Losers, 🤑 💰
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GBPJPY "The Guppy" Bank Money Heist Plan on Bullish SideHallo My Dear Robbers / Money Makers & Losers, 🤑💰
This is our master plan to Heist GBPJPY "The Guppy" Bank based on Thief Trading style Technical Analysis.. kindly please follow the plan I have mentioned in the chart focus on Short entry. Our target is Green Zone that is High risk Dangerous level, market is oversold / Consolidation / Trend Reversal / Trap at the level Bullish Robbers / Traders gain the strength. Be safe and be careful and Be rich 💰.
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Entry : Can be taken Anywhere, What I suggest you to Place Sell Limit Orders in 15mins Timeframe Recent / Nearest Swing High
Stop Loss 🛑: Recent Swing High using 2h timeframe
Warning : Fundamental Analysis news 📰 🗞️ comes against our robbery plan. our plan will be ruined smash the Stop Loss. Don't Enter the market at the news update.
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USDJPY and GBPJPY Top-down analysis Hello 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 Still Consolidating But Slowly ClimbingGJ has been consolidating for awhile but my bias is still bullish. Waiting for price to break above and retest the H4 trend line.
Reasons For Bullish Bias:
- H1 Bullish Choch
- Still forming new HLs
- Small QP 193.75 holding as support
- Multiple rejections at the OTE fib on the H4
Major GBP news coming up in 3 hrs. If I see a trading opportunity after news I will let you know.
GBPJPY Will Go Lower! Sell!
Take a look at our analysis for GBPJPY.
Time Frame: 2h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is trading around a solid horizontal structure 194.510.
The above observations make me that the market will inevitably achieve 193.839 level.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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GBP/JPY H4 | Rising into multi-swing-high resistanceGBP/JPY is rising towards a multi-swing-high resistance and could potentially reverse off this level to drop lower.
Sell entry is at 195.61 which is a multi-swing-high resistance.
Stop loss is at 196.35 which is a level that sits above the 127.2% Fibonacci extension level and a swing-high resistance.
Take profit is at 193.63 which is a multi-swing-low support.
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GBPJPY Continued To Range. What's Next?Last week we didn't get much movement from GJ. Price continued to range so my initial bias is going to be neutral starting this week. Price is currently at a QP 195 so GJ still has my attention.
Key Res around 195.98
Key Sup around 189.59
I will try to update as we get more development...
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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GBPJPY Potential Trend ContinuationThe market is currently testing a key psychological support level at 193.000 after a period of consolidation following recent bullish momentum. If GBPJPY closes above the 194.000 level, it could indicate continued upward movement, setting the stage for a retest of the resistance zone above this level. Given the recent bullish sentiment, a clear break and close above 194.000 would likely signal further bullish moves, potentially pushing the price toward higher levels within the resistance zone. The target is the resistance at 194.500
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 - 4hrs ( Sell Trade Target Range 300 PIP ) 🟢 Pair Name : GBP/JPY
Time Frame : 4hrs Chart / Close
Scale Type : Large Scale
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🟢 Key Technical / Direction ( Short )
Type : Mid Term Swing
———————————
Bearish Break
194.250 Area
Reasons
- Major Turn level
- Pattern Break
- Visible Range Lvn
- Day / low
- Month High Reversal
Bullish Reversal
191.000 Area
reasons
- Major Turn level / D
- Visible Range Hvn
- Visible Range / Poc
- Fibo Golden
- Choch Zone