GBPJPY SELLit seems that the strength of up-trend is getting weaker and it's suitable for Sell (Short Position)
Gbpjpyforecast
GBPJPY ShortShort From: 172.517
Stop level : 172.659
TP 171.612
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GbpJpy- Sell on confirmationSince the recent low at 158 at the end of March, GbpJpy has risen almost 1500 pips to a high above 172.
However, starting with May, the pair has entered a range trading phase with resistance at 172.50 and support at 168.
At this moment GbpJpy is trading near resistance and is in a consolidation.
Short-term support lies at 171.50 and a break under this support could lead to further losses and towards to lower boundary of the range.
Aggressive traders could use this break as a signal for opening short trades, keeping in mind that they trade against the trend.
Sell GBP/JPY from the resistance level + double top?GBP/JPY has pulled back from the resistance level. Along with this, we also have the formation
of a bearish candlestick in the resistance level thus leading to a potential double top.
So, in the next 3-4 days, we can expect a further decline in GBP/JPY towards 168 and 165.50
levels as long as the resistance level stays unbreached.
My recommendation is to sell the rallies in GBP/JPY with SL above 172.40 and TP at 168.
Sweep to sweepPrice ultimately made a liquidity sweep after a long bullish market, this sweep also created a supply zone. The liquidity wipe out massively declined and mitigated the immediate demand region, we’re in a bearish market. Anticipating the market to give us a much clearer entry by providing a minor pullback to the supply zone which perfectly resonates with the 30m order block. Should things turn out in favour of this analysis, then we’re good to go bearish to level 170.354…
GBPJPY Next MovePair : XAUUSD ( Gold / U.S Dollar )
Description :
Bullish Channel
Impulse Correction
Completed " 1234 " Impulsive Wave
RSI - Divergence
Break of Structure
Symmetrical Triangle in STF with the Breakout of the Upper Trend Line
20 Reason for sell GBPJPY🔆MULTI-TIME FRAME TOP-DOWN ANALYSIS OVERVIEW☀️
1.✨Eagle Eye: Although the overall structure is bearish, the market is currently in a consolidation phase, indicating a potential shift in momentum.
2.📆Monthly: The market is currently in a bearish to sideways phase. However, there are signs of a change in character, with a shift from sideways to bullish sentiment.
3.📅Weekly: The trend is bullish, and there is a double top formation. We need to wait for a breakout or, alternatively, if the price forms a bearish structure on the 4-hour timeframe, we may consider selling.
4.🕛Daily: The swing is almost complete, and there is also a weekly double top formation. There is a high chance that the market may undergo a deep correction before continuing the next bullish swing.
😇7 Dimension Analysis
🟢 Analysis Time Frame: D1
Price Structure: The overall structure is bullish, with the swing almost completed.
Pattern Candle Chart: There is a triple top formation with a hanging man candle, indicating a potential reversal.
Volume: There is heightened volume at the top, suggesting a potential exhaustion of buying pressure.
Momentum UNCONVENTIONAL RSI: Bearish divergence is observed, indicating a potential weakening of bullish momentum.
Volatility Measure Bollinger Bands: The "M" pattern's last leg is forming, which could lead to increased volatility.
Strength ADX: The ADX line is below the weakness level in an uptrend, indicating a potential loss of bullish strength.
Sentiment ROC: Check the rate of change for further insights.
✔️ Entry Time Frame: H1
12. Entry TF Structure: The structure on the H1 timeframe is bullish, with a completed swing and resistance levels from higher timeframes.
Entry Move: Look for a corrective move before entering.
Support Resistance Base: Consider the resistance levels on the weekly, daily, and H4 timeframes.
FIB or Trendline: The trigger event has already occurred, and the trendline has been broken.
☑️ Final Comments: Sell position is recommended at this point.
16. 💡Decision: Sell
🚀Entry: 171.693
✋Stop Loss: 172.521
🎯Take Profit: 165.373
😊Risk-to-Reward Ratio: 1 to 7
🕛 Expected Duration: 30 days
GbpJpy -> Perfect Market BehaviourHello Traders,
welcome to this free and educational multi-timeframe technical analysis .
On the weekly timeframe you can see that GbpJpy is currently retesting a quite obvious previous weekly resistance area at the 172 JPY level which is now turned resistance again.
You can also see that as we are speaking, GbpJpy is creating bullish weekly market structure, moving averages are also quite bullish on the weekly timeframe so I am now just waiting for a clear break above the zone, followed by a retest and then I do expect more continuation towards the upside.
On the daily timeframe you can see that GbpJpy already rejected the previous resistance area a first time towards the downside, now we are retesting the zone again and there is a higher chance that GbpJpy will break the zone and then I do expect more continuation towards the upside.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
GBPJPY: shorted!Technical Overview
The GBP/JPY currency pair showed a bullish-harami candlestick pattern on Friday, which resulted in consecutive positive gains. This pattern was further confirmed by Monday's price action. The pair initially reached a low of 168.86 but quickly rebounded and surged towards 170.49. Currently, the GBP/JPY is trading at 170.47 as of writing.
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.
GBPJPYsince gbpkpy os forming a lowerhigh on my bigger time frame and this high is holding ill be looking for a sell at this level just waiting on bearish confitmation on the 15 min and the 1hr just for a little bit more conviction make sure you keep eyes on this and most likely other yen pairs im looking for yen strength today as long as thes highs hold
GBPJPY Bullish Pennant! GBP-JPY is trading in an uptrend
And the pair has formed a bullish pennant
So I am bullish biased and we have seen that
A bullish breakout that will be a sign for us
To go long on the pair !
GBPJPY Top-down analysisHello 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 Top-down analysisHello 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 14May2023looking at the fibo extension from wave 1 to wave 2, then wave 3 should be at least the same as wave 1. with the possibility that wave 3 is at least the same as wave 1 then there is a high probability that the price will continue to be bullish after the correction ends. this analysis fails if the price drops more than the invalid line
GBPJPY - Bullish price action ✅Hello traders!
‼️ This is my perspective on GBPJPY.
Technical analysis: Here we are in a bullish market structure from 4H timeframe perspective, so I am looking for longs. I expect bullish price action from here as price took sell stop liquidity and rejected from imbalance + institutional big figure 168.000.
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GBPJPY Chart H1Here is my view for GBPJPY on H1. The price could go bearish, you can put a pending order on the Order block or find an entry on LTF within OB Zone. Trade Safe!
GBPJPY: Buyer - Go!!Technical Overview
The price is moving now within the 0.5 and 0.618 frames of the fibonacci retracement. Anticipate short-term uptrend continuation
Plan trade in the intro
GBPJPY: Entry point!The GBP/JPY achieved three days of losses, though buyers are moving in as the Asian Pacific session begins. After hitting a weekly low of 168.05, the GBP/JPY bounced off, is trading at around 168.85, and gains 0.07% as it’s approaching the 169.00 figure.
BUY GBPJPY zone 170.00 - 170.20
SL: 169.80
TP: 171.25
GBPJPY 8/5/2023Price currently ranging in between the resistance at 170.856 & support at 170.185 while also forming possible uptrendline.
Now if price closes above the resistance then we can expect price to continue pushing up to the next resistance at 171.950 & if price closes below the support then price might continue to the next support at 169.426.
GBPJPY: Seller's Opportunity!Fundamental Overview
The GBP/JPY pair is nearing its highest point in six months at 172.17 following a break above the consolidation around 171.00 during the Asian session. The Japanese Yen has been affected by the new Bank of Japan Governor Kazuo Ueda's support of an ultra-dovish monetary policy to maintain consistent inflationary pressures above 2%. The BoJ has confirmed unanimously that there will be no alteration to the Yield Curve Control, indicating that an exit from the loose policy is not being considered at this time.
Expect this to be a correction before continuing the uptrend
Plan trade in the intro ♥
current move for GBPJPYHello traders, I expected a pull back from GBPJPY at the price of 168, and It has done the pull back as a retest to 170, and then I expect another drop from 170, to 168 again, and then testing 172...
enjoy trading <3
GbpJpy -> Textbook TradeHello Traders,
welcome to this free and educational multi-timeframe technical analysis .
On the weekly timeframe you can see that GbpJpy just retested and rejected a quite obvious previous weekly resistance at the 171.000 JPY level.
However you can also see that weekly market structure and moving averages are still very bullish, with last week's candle we broke multiple structure levels towards the upside and we are also currently retesting previous resistance which is now turned support so I simply do expect more continuation towards the upside from here.
On the daily timeframe you can see the exact same setup, we just recently broke above a major daily resistance level at the 168.5 JPY area which is now turned quite strong support, so I am now just waiting for some more bullish confirmation inside of this zone before I then do expect another daily rally towards the upside.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
