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Gbpjpyanalysis

GBP/JPY may fall if the confluence of resistance holdsHello traders, GBP/JPY is currently at a very crucial level on the 4Hour chart. Let's look at the chart and analyze it 📌In the 4Hour chart, price is currently just under the dynamic resistance. So far, we have not seen any bearish candles. However, the next candles could be bearish. 📌Price is also at the broken support turned resistance level as I have indicated in my chart. 📌So, in case of bearish price action in the highlighted zone, selling GBP/JPY@182.60-182.85 with SL above 183 and TP at 180.83 would be a potential sell trade.
by MarcellusLUX
GBP/JPY on it's way to 179 level. More decline aheadHello traders, ever since GBP/JPY was at 185, I had recommended selling with a target of 179( previous GBP/JPY ideas attached below). 📌Currently, the price action is quite bearish even in the hourly chart. 📌GBP/JPY is unable to go above the 100-hour moving average which is a bearish signal. In fact, every time the price pulls back to the 100H EMA, we see further drops. 📌 Based on the above factors, GBP/JPY is all set to fall to the 179 level in the coming days. My recommendation is to sell the rallies in GBP/JPY.
by MarcellusLUX
3
GBP JPY SELLHello, according to my analysis of the gbpjpy pair, there is a high possibility of a downside. The price broke the double button pattern. With a very large red negative candle. It indicates the strength of the sellers. We also notice the rapid return to the bullish channel as shown in the analysis, but it could not get out of it. In the coming days, we expect a further drop to 182,000 levels in the first phase. And the level of 180.00 in the second stage, good luck to all
Short
by inv_market09
2
GBPJPY week 25.09 - 29.09.2023Short term: GJ seems to be following the downtrend But below, GJ has a Quasimodo liquidity zone forming. It looks like this area is quite solid. To create a clear uptrend, we need GJ to at least be able to break above the Sellzone. Plan : Canh buy: 179.55 and 178.8. Canh sell: 182,995/ 183,675 If Sell picks up first, the Buy bet is still valid. If Buy picks up and the train runs, consider reducing the order volume. Maybe the liquidity will be enough for a pull up
Long
by Finn_Rm3x
2
GBP/JPY Trading plan( FOMC + BOJ Policy Rate on Friday)With FOMC coming up later tonight and BOJ monetary policy statement on the early hours of Friday, it is going to be a blockbuster week for GBP/JPY and other Yen pairs as well. To be honest, I would recommend traders to take this week off. However, for those still interested in trading, I am sharing my trading plan. 📌Right now, GBP/JPY looks like it may rise further if it is able to break the 183.50 level. 📌If price drops during or after the major news events towards 179.50, I would try a buy trade with small lot with entry@179.50, SL: 178.80 and TP at 183. 📌If price spikes to 186 or higher during the major news events, I would prefer selling.
by MarcellusLUX
2
Short-term pullback possible in GBP/JPY, buy or sell?Hello traders! GBP/JPY seems to have found some support near the 182.65 level. 📌Price has not gone below 182.65 despite multiple attempts by the bears to break it. So, 182.65 can be considered a minor support. 📌If the minor support level holds, we can expect GBP/JPY to pullback towards the 4H EMA level near 184 or even 184.70. 📌However, I do not recommend traders to buy GBP/JPY as the daily and weekly trend indicates that price can fall further towards 179. My recommendation is to wait for a pullback and then sell if GBP/JPY reaches the 184.70-185.20 level.
by MarcellusLUX
3
GBP/JPY Faces Uncertainty: Key Economic Indicators in FocusThe GBP/JPY pair is trading in a sideways pattern, hovering just above the 183.00 level. JPY’s underperformance and the BoJ’s dovish stance are significant factors. On the UK front, the potential pause in interest rate hikes by the BoE due to emerging recession fears, coupled with technical indicators pointing at a potential bearish momentum for the Yen, suggests a possible downward move. TRADE IDEA DETAILS: CURRENCY PAIR: GBP/JPY CURRENT TREND: Sideways with potential bearish undertones. TRADE SIGNAL: SELL 👉ENTRY PRICE: 183.00 ✅TAKE PROFIT: 181.50 ❌STOP LOSS: 183.50 TRADE PLAN: Considering the current fundamentals and technical setup, initiating a SELL trade around the 183.00 mark offers a promising risk-to-reward ratio. Monitor the trade closely, especially during the key data releases and central bank meetings this week, which could cause significant volatility. FINAL THOUGHTS: This trade suggestion leans towards a bearish outlook for GBP/JPY in the short term. It’s crucial to stay updated on any new developments from the BoE and BoJ meetings, as these could shift market sentiments swiftly. Always practice proper risk management.
Short
by RichDadph-FX
1
GBP/JPY may fall further to 179 levels, trade wiselyHello everyone! GBP/JPY's bullish rally has run out of steam and price is slowly descending to the downside here. 📌At present, we are noticing the formation of a wedge-like pattern in the daily chart of GBP/JPY. 📌Despite this, the uptrend may be short-lived as price may fall to 179 in the coming days. 📌My recommendation is to sell the rallies in GBP/JPY. If price spikes to 184 or 185 levels, I would consider selling GBP/JPY
Short
by MarcellusLUX
2
GBPJPY: JPY traders attempt a recovery!The GBP/JPY pair slid to a new five-week low after touching 182.51 on Thursday, falling off 184.00 in the final trading session of the week. The British Pound (GBP) has struggled to develop further momentum against the Japanese Yen (JPY) recently, with the Guppy marking a move towards the 50-day Simple Moving Average (SMA) after failing to maintain maintained the key level of 186.00 at the end of August. GBP/JPY marked its 2023 low in early January when the pair traded into the 156.00 region. GBP has done a good job of taking advantage of JPY's weakness since then, with Guppy still up around 17.50% on the year.
Short
by Sphyn-Trader
8