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Gbpjpylong

GBPJPY, to swing up to retest the Year's high of 186.735GBPJPY made a breakout of the ascending channel since 28th July 2023 and went up to channel the year's high at 186.672 on the 17th of August 2023. Price pulled back to 184.110 support. The pull back has been happening in a descending channel from 16th August when it broke out of the descending channel and was looking to retest the channel last Friday, 2nd September and rebounded on the 183.530 support. What do I expect?? The price will swing up to retest the year's high of resistance (186.735) or the yearly resistance trendline closer to the year's high as shown.
Long
by AbeikuGlobal_FX
1
Bullish Opportunity in GBPJPY - A Technical AnalysisBullish Opportunity in GBPJPY - A Technical Analysis #GBPJPY #ForexTrading #TechnicalAnalysis #TradingView Hey traders! 👋 Let's dive into a technical analysis of GBPJPY on the 1-hour time frame and explore an exciting opportunity. **Overall Trend:** 📉 The overall trend on GBPJPY in the 1-hour chart is bearish. **Bullish Divergence:** 📈 We've recently observed bullish divergence on the lower lows (LLs) in the 1-hour chart. This is a sign of potential trend reversal. **Pattern Analysis:** 📊 While there's no clear trend continuation pattern, we have identified an Inverse Head and Shoulders pattern, suggesting a potential bullish reversal. **Bias:** 📈 Taking all these factors into account, our overall bias for GBPJPY is bullish. **Time Cycle:** ⏰ The daily cycle also supports a bullish outlook. **Seasonal Pattern:** 🍂 Looking at historical data, September has shown a bullish pattern over the past 10 years. **Trade Setup:** 📈 - **Long Entry: 184.6 - **Stop Loss: 183.6 - **Take Profit 1: 185.6 - **Take Profit 2: 186.6 **Investment Advice:** 💡 It's important to remember that trading carries risks, and past performance is not indicative of future results. Always use proper risk management techniques, and consider starting with a demo account to practice this strategy. Monitor the trade closely and consider adjusting your stop loss as the trade progresses. Remember, this is not financial advice; it's an analysis of the technical factors at play. Keep an eye on GBPJPY, and good luck with your trading journey! 📈💰 Disclaimer: This is for educational and informational purposes only. Do your research and consult with a financial advisor before making any investment decisions. #InvestResponsibly Remember to adapt your trading strategy as market conditions evolve, and never risk more than you can afford to lose. Happy trading! 💼📊
Long
by T-Q
GBPJPY Long Term Buying Trading IdeaHello Traders In This Chart GBPJPY HOURLY Forex Forecast By FOREX PLANET today GBPJPY analysis 👆 🟢This Chart includes_ (GBPJPY market update) 🟢What is The Next Opportunity on GBPJPY Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
Long
by ForexPlanet20
GBPJPY the monthly : price is fully bullish, we can see that it broke the strong supply and demand zone. weekly; price broke and retraced to the broken supply and demand zone, there are two candles rejecting the zone so I'm expecting a retracement to the downside and then a bullish continuation. daily; The trend is fully bullish there is also a high momentum and we also have the SMA's confirmation of a strong bullish trend, so I'm only looking for buys 4h; There is a probability of price retracing then continuing the bullish trend or breaking and retesting the zone either way ill be looking for a long trade after seeing some shrinking candles on the zone with some rejections and a hammer candle as a confirmation to look for my entry on the lower timeframe RM; sl; below the rejections tp; next s/d zone R; 3:1 minimum
Long
by Ily14
1
GBPJPYCurrently GBPJPY has shown a slight touch of hesistation trying to reach the next resistance level. I feel as if this is a fake pullback and price will continue upwards. in my opinion it will use the news break to launch up past 248.8. If price does not reach resistance level, we could be looking at a retrace to 156.6 then bounce up again for a double top using the news. will update this as we go and see if we can see a break in formation on lower timeframes to execute the trade in confirmation.
Long
by Joshyboy99
GBPJPY: Today!The GBP/JPY cross posts modest gains but remains below the 184.00 barriers during the early Asian session on Friday. The cross currently trades around 183.85, gaining 0.07% on the day following the release of Japanese inflation data. The Statistics Bureau of Japan reported on Friday that the Tokyo Consumer Price Index (CPI) for August, fell to 2.9% YoY from 3.2% in the previous month, against 3.0% market predictions, while the Tokyo CPI ex Fresh Food and Energy remained stable at 4.0% YoY.
Short
by Sphyn-Trader
3
GBPJPY Long Bullish potentially upside to 209 YenGBP/JPY inflation Yields In my previouse analysis(Click onthe chart, and read it, I mentioned I am forecasting GBPJPY Rising high what already happened... GBPJPY RISING HIGHER ON MORE BUYING PRESSURE LONG GBP/JPY: On the way toward the 2015 high GBP/JPY’s break above the October high of around 172.00 has opened the door toward the 2015 high of 196.00 in the coming weeks/months. In the near term, however, the cross looks a bit overbought. Hence some sort of consolidation/minor retreat can’t be ruled out. The broader upward pressure is unlikely to fade away while the cross holds above the 89-day moving average The Bulls took control to buy GBP at 136.50 from there the market excessively made Higher Highs and Higher Lows. The best is that all this mechanism has been confirmed,one after each other. Look on the chart above: i HAVE MARKED SOME PHASES OF THE MARKET with yellow cirlcles: The circles are on the lows (Bar chart) and on the lows of RSI(below). Ususually the momentum oscillators follow the market´s motion, meaning if the market makes higher highs and higher lows, the RSI rises and follows, and vice versa. On the ba chart the market makes higher highs and higher lows, but on the maked position(See RSI) the RSI suddenly makes lower lows,and breaks down the previouse low. This is a powerfull indication that the bull trend is active,better:RSI lower lows represent and confrim that the trend will continue. Currently the price is at 179,084whil GBPYEN is correcting, but even if the market comes down(in worse case to 155(unlesse it does not break 147, the trend is bullish... This are marvellouse situations, where we can time our buying positions. The corrections are just the results of some profit takings, but most importantly the buyers will distibute their buy positions and maintain the supports more stronger. For instance as the market came down to 147 the buyers baught massively GBP and very agressively. So they will also defend this zone very agressively and powerfull in the future. The resistance at around 184 will be very weak, as now more buying deltas and volume are shifting higher. So we have higher highs and higher lows, we have rising POCs, we have shifting volme higher, we have rising supports, and they all are at the previouse pocs. My further forecast is: If GBP breaks fast 184, we will go to 194,55 and then to 209,582. If the market comes down, we will find triple supports at 162.170 and 173. From here we can time to buy the dips. Below 147 GBP will lose value vs Yen and will go to 135,132,125,120. Fundamentally GBP and majors, but also other currencies are gaining weight vs Yen. The British pound initially tried to rally a trading session on Tuesday, but then gave back gains to show signs of weakness. All things being equal, it looks like the ¥180 level continues to offer support. The British pound has initially tried to rally during the trading session on Tuesday, but gave back gains almost immediately to slam into the ¥180 level. However, the market has turned around to show signs of support yet again, and now it seems like we are just slamming around. With this being the case, it will be interesting to see how this plays out, but I do think that we have the potential for some type of explosive move. Keep in mind that the Bank of Japan is the most dovish central bank out of all of the major powers, so that does continue to put a lot of negativity into the Japanese yen. Furthermore, we are in a massive bullish run, and I think that continues to be a situation where you cannot fight the momentum. All things being equal, this is a market that I think continues to see a lot of noisy behavior, but I would be a buyer of dips as they offer value. Another thing that helps the market rally at this point is the fact that the British pound has been very strong for a while, and inflation in the United Kingdom continues to see a lot of pressure, therefore it looks like the Bank of England will continue to be very hawkish. All things being equal, I think this continues to be a “buy on the dips” scenario, and the situation continues to be one that you will have to be cautious. After all, the volatility will be a major issue that you will have to deal with, with the ¥184 level as an area that has been massive resistance, and then the ¥185 level would be the next target. All things being equal, I do think that we see a lot of noise, so therefore keep your position size reasonable but I still favor the overall upside, as the market will continue to see plenty of upward pressure, due to the fact that the situation continues to be one that the buyers certainly have control over the longer-term, but it also continues to be more noise than anything else. Fundamentals GBP/JPY takes offers to refresh intraday low down for the third consecutive day. UK CPI pushes back hawkish BoE bias by falling to 7.9% YoY in June. Dovish comments from BoJ’s Ueda, market’s cautious optimism previously favored GBP/JPY bulls. Risk catalysts, Japan inflation will be crucial to watch for clear directions. GBP/JPY reverses the day-start recovery towards refreshing the intraday trough to around 180.80 amid early Wednesday morning in London, justifying the unwelcome prints of the UK inflation. Adding strength to the downside bias are the weaker Treasury bond yields. However, the market’s cautious optimism and dovish bias surrounding the Bank of Japan (BoJ) prod the cross-currency sellers of late. UK inflation per the Consumer Price Index (CPI) slides to 7.9% YoY in June versus 8.2% expected and 8.7% prior. More importantly, the Core CPI defies the 7.1% market forecast and previous readings by declining to with 6.9% YoY figures for the said month. With this, the hawkish bias about the Bank of England (BoE) remains doubtful and drowns the GBP/JPY during the three-day losing streak. On the other hand, Bank of Japan (BOJ) Governor Kazuo Ueda spoke at a news conference after the G20 meeting in India on Tuesday while stating that there was still some distance to sustainably achieve the 2% inflation target, defending the easy-money policy in turn. It’s worth noting that fears surrounding Japan Prime Minister (PM) Fumio Kishida’s cabinet reshuffle and pessimism among the big industrial houses from Tokyo weigh on the Japanese Yen (JPY) and challenge the GBP/JPY bears. Elsewhere, the market sentiment remains cautiously optimistic amid the upbeat performance of the equities backed by the positive mood at the banks, as well as China headlines, which in turn puts a floor under the GBP/JPY prices. While portraying the mood, Japan’s Nikkei 225 rises more than 1.0% and the S&P500 Futures remain sidelined at the yearly high. However, the US 10-year and two-year Treasury bond yields stay pressured at 3.76% and 4.74% by the press time and prod the GBP/JPY bulls of late. Having witnessed the initial market reaction to the UK inflation data, the GBP/JPY pair traders should watch the risk catalysts ahead of Friday’s Japan inflation statistics and British Retail Sales. However, aggressive tightening could dent prospects for next year, raising the risk of a recession, and undermining the overbought GBP. On the other hand, the recent stimulus measures in China could help cushion some of the downside risks to economic growth in the world’s second-largest economy, providing a tailwind to European growth
Long
by DaveBrascoFX
8