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Gbpjpyforecast

GbpJpy -> Short Squeeze Over?Hello Traders and Investors , my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of GbpJpy 💪 After GbpJpy broke out of a major long term monthly triangle formation all the way back in 2021 there has been a major rally of roughly 4000 pips towards the upside on GbpJpy. However by looking at the weekly timeframe you can see that GbpJpy is a little bit overextended at the moment so I do expect a retracement at least back to the 0.236 or 0.382 fibonacci retracement level. And it seems like with today's candle GbpJpy is breaking daily structure towards the downside so I am first waiting for another bearish push and if we then get a retest of the previous structure zone and some bearish confirmation I then do expect another daily bearish drop to retest the weekly fibonacci levels. Keep in mind: Don't get caught up in short term moves and always look at the long term picture; building wealth is a marathon and not a quick sprint 📈 Thank you for watching and I will see you tomorrow! My previous analysis of this asset:
Short
by basictradingtv
35
GBP/JPY Bearish reversal on the cards? +1200 Pips potentialDear traders, GBP/JPY's bullish momentum is fading and we are seeing increasing bearish pressure on GBP/JPY. 184 level has not been breached, and we have multiple rejection candlesticks in this level. So, if the bears step at this level, expect a rapid and big decline in GBP/JPY. There is a potential for a 1200 Pip fall to 171 leve l. So, look for strong bearish impulse and sell GBP/JPY is the mavs are breached in the hourly and 4Hour chart .
by YourLazyTrader
16
GBPJPY RISING HIGHER ON MORE BUYING PRESSURE The British pound has fallen initially during the trading session on Tuesday, only to test the support level that we have been dealing with for several days now. Ultimately, this market continues to see a lot of back-and-forth, and that makes quite a bit of sense considering that people don’t know what to do with the economy. However, the interest rate differential continues to be a major driver of where we go, as the Bank of Japan has been working against the rising interest rates in its domestic bond market, therefore it’s been printing Japanese yen. This of course drives down the value of the yen, and it has been seen across the Forex world. Looking at this chart, you can see that we are obviously very bullish, so there’s no reason to think that we should be shorting it any time soon. Yes, we may get some type of pullback occasionally, but that will be a nice buying opportunity, with the ¥170 level underneath being a significant support level just waiting to happen, and of course, there is a lot of psychology to that number. I think continues to see a lot of buyers on dips and I would approach it as such. The ¥172.50 level is a major resistance barrier, and breaking above there could open up even more buying. At this point, it could send the pair toward the ¥175 level. The ¥175 level could be a barrier, if for no other reason than the psychology of the market. Short-term pullbacks at this point should continue to see buyers enter the marketplace, as we have been in such a massive uptrend lately. The Japanese yen will continue to struggle due to the fact that the Bank of Japan is in the midst of quantitative easing, as they practice yield curve control in the 10-year JGB. Remember, Tokyo will continue to fight higher interest rates, with a ceiling of 50 basis points in that bond. In other words, they will step into the market and buy bonds to keep rates down. The only way they can do that is to print more yen, flooding the market with that currency. On the other side of the equation, you have the Bank of England, which remains extraordinarily tight, and is fighting inflation. This sets up a bit of a perfect trade, as it is not only so momentum driven, but there is also a huge interest rate differential between the 2 currencies. Essentially, this is the old styled “carry trade,” perhaps on steroids. With this, I think that plenty of people will continue to step into this market and buy it every time it dips. If we can break above the ¥172.50 level, that is very likely that the market will go looking toward the ¥175 level over the longer term. Underneath, the ¥170 level should continue to offer plenty of support and would be thought of as the short term floor in the market. Because of this, a continued “buy on the dips” strategy will probably tend to work out better than anything else at this point. I would expect a lot of noise but at the end of the day, this is a bullish market for reason. The ¥167.50 level underneath is significant support, and then of course the 50-Day EMA is racing toward that area as well. With that being the case, the market is likely to continue to see the upward pressure over, everything. Alternatively, the market then opens up the possibility of the pair being a one-way trade, just as we have seen for some time. The market continues to be a situation where we will find plenty of opportunities on pullbacks, and therefore if you are cautious and wait for value in the British pound, it’s very likely that you will have a trade set up rather quickly.
Long
by DaveBrascoFX
3
GBPJPY Trade SETUP H4GBP/JPY closed at 182.66. Regarding its resistance, the first resistance area is around 182.90. If it breaks, GBP/JPY may reach 183.33. You can consider selling GBP/JPY if a candle rejects the resistance area. As for support, the first support level is at 181.88, and there is an upper trendline formed as well. If that trendline breaks, GBP/JPY could drop to 180.47. Therefore, it is important to keep an eye on these levels. I hope your trades will be successful and profitable, by the will of Allah. Disclaimer: The information provided is for educational purposes only and should not be considered as financial advice. Trading involves risks, and decisions should be made based on personal judgment and analysis.
by ShaaniReal
1
GBPJPY Trading Guide. Selling is not yet started.Note : small traders should trade with money management as the pair is highly volatile. Level to take trades for small trading account holders Sell 182.150 Tp 181.750 Sell 187.5 Tp 187.0 Sell 190 hold for long 178. Fundamental Analysis When everyone is selling GBPJPY, then who is buying it and why it's going up and up without stopping ??? The answer is very simple. Big Investors and traders with technical + fundamental knowledge are not buying JPY. whenever GBP breaks resistance, retest it and start moving up. Simply buy GBPJPY. because JPY is not offering anything to investors then why investors buy JPY ???. Now you get my point. Now we will do some technical analysis. Technical analysis Technically the pair is showing overbought sign do expect some correction from 181.8 to 182.350, you can sell pair in this range and hold 50 pips or 500 points easily. but I am expecting bullish rally to 190 & 195 areas To be tested easily in a month or 2 month may be earlier. There we will sell from 190 and our target will be 178. I have mentioned these in the chart also. As Daily chart is bullish but showing highly overbought sign so at 190 psychological mark expect aggressive selling of the pair. Moreover, Bank of Japan is preparing to Intervene in the Market, so when the intervene will start ??? Bank of Japan is watching USDJPY levels so therefore when USDJPY reaches 150 then they will decide a meeting to intervene again. Apart from that retailers will also plan to wait at 150-152 area and avoid buying here. So when USDJPY reaches 150 psychological mark, expect BOJ intervene in FX market. As GBP is also going up without any Reason, therefore GBP will likely to fall heavy against all pairs.
Short
by AhsanTufail