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Gbpjpyforecast

GbpJpy- Strongly bullish structure for 3k pips gainOn Friday I called for a break of support and, in the end, this break proved to be a false one and I closed my sell trade on break even. As always, when I'm in doubt, I look at the longer TF, and here things are pretty clear, with GbpJpy in a visible uptrend since March 2020. Also, the 2020 "pandemic low" and 2016 low have formed a nice double bottom on our weekly chart (very clear in monthly also). At this moment the pair is consolidating exactly in the neckline resistance and considering the 6 months of consolidation the break should be very violent. If this break will happen to the upside the next target is around 180 and the measured target of the double bottom is near 200, level confluent with a previous high. Note: This is a very long-term outlook so don't expect 180 in 2-3 weeks
Long
by Mihai_Iacob
17
GBPJPY | Perspective for the new weekA hawkish BoJ rate hike amidst a strong UK GDP and Industrial Production figures might propel the Yen to new heights as the Pound looks set to end the following week(s) in the trenches. Technically, with the sight of reversal set-up (triple top look-a-like) at the JY156 zone, It is becoming obvious that the demand zone has lost the momentum to push the price above JY157.5 and the successful breakdown of Key level @ JY156.5 during last week trading session gives a significant clue to the strength of sellers at this juncture in the market. This could be as a result of "quick sell" activities from traders who took advantage of the bullish run... Let's see how it goes!😁 Tendency: Downtrend (Bearish) Structure: Breakdown | Supply & Demand | Reversal pattern (Triple Top) Observation: i. With a 5.5% growth in the value of the Pound; It has been a Bullish run in the last 3 weeks and the price appears to have found a peak at JY157.8 - an area that has a memory for selling opportunity (as far back as 2013 - see weekly or monthly chart). ii. And since price hit peak @ JY157.8, we have witnessed multiple rejections which culminated in a breakdown of Key level @ JY156.5 during last week trading session to signal a downtrend continuation. iii. The appearance of a reversal set-up in the form of a Triple Top pattern - three peaks moving into the same area @JY156, with pullbacks in between indicates a possible slide in price in the coming week(s) after the price moved below pattern support (key level). iv. In this regard, I have created a new supply niche around JY156.5/157.0 should the price climb in the early hours/days of the new week with the objective of looking for reversal set-ups for a signal. v. Below Key level @ JY156.5 remains a comfortable area to open a short position with the option to add to our existing position at a breakdown/retest of JY155.5. CAUTION: Considering the bullish momentum in the 3 weeks, it is appropriate that we remain open to the possibility of a significant breakout of JY157.5 which shall be enough to negate the bearish narrative... Trade consciously!😊 Trading plan: SELL confirmation with a minimum potential profit of 350 pips. Risk/Reward : 1:4.5 Potential Duration: 5 to 12days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
GBPJPY REENTRY SELLAfter clearing internal liquidity and playing into the previous high GBPJPY has sharply rejected it forming a potential POI. Depending on the 4hr close of this current candle I would like to take an entry(2 potential entry zones) Technically we have already achieved a break of structure (green arrow) however as an added confirmation I would like the current 4hr candlestick to close near to or below (preferably below) the blue arrow. This sell is apart of a longer term sell which I have linked as a related idea below. I have shown two potential entries, one at the opening of the candle where I will scale in and one at the 50% where the majority of my position will be opened. The 50% will provide a better r:r due to the shorter stop loss. Trade any as you see fit. DISCLAIMER: I am not a financial advisor and nor is this financial advice. Only risk what you can afford to lose and this type of speculative trading can result in loss and/or profits.
Short
by Turtlesoup_Maestro
GBPJPY Sell IncomingAfter analysing the current market conditions and seeing the longer term price action I believe GBPJPY will drop. Price has been distributing since March 2021 and we have seen price range since then and thus I will be expecting a huge move. Over the last couple of weeks I have noticed price re-distributing as a possible LPSY for market to drop. Overall GBP is starting to weaken and the JPY is starting to gain strength hence why this could accelerate the drop for GJ. Thanks for reading and looking at my chart, leave a like, comment and follow for more ideas. DISCLAIMER: I am not a financial advisor and nor is this financial advice. If you trade this pair with me and make money from this, please help support a fellow trader. My cashapp is on the chart! Thank you for your time.
Short
by Turtlesoup_Maestro
2
GBPJPY: Downside Ready? 🧐I am cautious about selling GBP pairs as the bullish trend is super strong. However, this pair looks like it is ready to make some downside after playing around and trapping both sides of the market. If we clear this level, I will look to join sellers on the pullback. Traders, if you have your own opinion about this idea, write in the comments section, I always reply. 💬 🚨 RISK DISCLAIMER: Trading Crypto, Futures, Forex, CFDs, and Stocks involves a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. Always limit your leverage and use a tight stop loss. -------------------------------------------------------------------------------------------------------- Please like, subscribe, and share this idea with others! ⬇️ --------------------------------------------------------------------------------------------------------
Short
by AlkalineFX
23
GBPJPY SMC SELLShort term -> Swing setup. Looking for price to go tap into the 157.380 level which is the opening of the 15min POI/Orderblock Price has broken structure and should retest that candle before dropping down. I will most likely swing this sell down to the 150 level. Note: This trade is a short term structure based setup which aligns with my bigger timeframe analysis (link attached) DISCLAIMER: I am not a financial advisor and nor is this financial advice. If you trade this pair with me and make money from this, please help support a fellow trader. My cashapp is on the chart! Thank you for your time.
Short
by Turtlesoup_Maestro
GBPJPY TRADING PLAN - SELLI am currently in a sell in GJ and I would like to add to the sells when I see a confirmation of downside continuations. If price can break and retest all of the zones then I will add more sells. My tp would swing all the way down, however, I will be taking partials at each zone. My stop loss will generally be 30 pips however looking at how market reacts and price action I will vary my stoploss and may put it above the candle that broke through the zone. A key zone to watch out for a reversal is 152.500. Watch carefully what price does here as it may be a potential long entry if it rejects and provides bullish confirmations. Note that this trade could take a couple of days or weeks so be patient. DISCLAIMER: I am not a financial advisor and nor is this financial advice. If you trade this pair with me and make money from this, please help support a fellow trader. My cashapp is on the chart! Thank you for your time.
Short
by Turtlesoup_Maestro
2
GBPJPY 4H Daily OutlookGBPJPY has taken help around 200-H MA and shown a minor pullback. The pound real pared a large portion of its benefits against the US dollar. Any break above 1.3600 affirms further bullishness. The UK has announced one more 141472 day by day cases lower contrasted with the earlier day-case 179756. The intraday pattern of GBPJPY is bullish insofar as help 155.70 holds. GBPJPY hits an intraday high of 157.15and is presently exchanging around 156.83. Short-term resistance -157.75 Intraday Support- 155.70 DISCLAIMER: ((trade based on your own decision ))
Short
by Goldsignal75