Gbpjpylong
GBP/JPY Maintains Bullish Momentum, Targets Higher LevelsDuring the early stages of the Asian session, the GBP/JPY currency pair experienced a modest retreat towards the 167.00 level, putting an end to its two-day streak of gains. The current exchange rate for GBP/JPY is approximately 167.16, reflecting a decline of 0.16%.
Analyzing the price action, the daily chart indicates that the GBP/JPY pair maintains an overall upward bias. However, it encountered a significant resistance barrier around the 168.00 level. Despite registering consecutive days of gains, the failure to extend its rally beyond 168.00 raises concerns of potential downward pressure.
Taking these factors into consideration, our analysis suggests a bullish continuation for the GBP/JPY pair, with a target set at 176.500.
0506 GBPJPY could go higher up to test 175.Hello traders,
GBPJPY is still on a bull trend.
I guess you agree with that.
Now the issue only focus on where to join .
We got three support zone on 4H chart to check with later .
Going long on those support zones could make the target up to fibo ext 1.27 position 175.
GOOD LUCK !
LESS IS MORE!
LONG - GBPJPY (D) (28 May 2023)Position Trade - GBPJPY
Look for LONGs with caution as price is reaching the Monthly Supply
In the Weekly Chart, there is about 600 pips before price reached the Weekly Supply proximal line
Hence, in the Daily Chart,
- There are 2 potential BUY zones to place trade/s
- Traders should decide if the risks are worth it to take 2:1 or less than that since price might retrace back sharply when it is close to HTF Supply zone/s
2x pending BUY limit orders (small lots) were placed on 28 May 2023
GBPJPY - Long from bullish order block ✅Hello traders!
‼️ This is my perspective on GBPJPY.
Technical analysis: Here we are in a bullish market structure from 4H perspective, so I am looking for longs from discount zone. I expect price to make a retracement to fill the imbalance lower and then to reject from bullish order block.
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GBP/JPY +75 Pips 0 Drawdown , Did You Enter ?This Is An Educational + Analytic Content That Will Teach Why And How To Enter A Trade
Make Sure You Watch The Price Action Closely In Each Analysis As This Is A Very Important Part Of Our Method
Disclaimer : This Analysis Can Change At Anytime Without Notice And It Is Only For The Purpose Of Assisting Traders To Make Independent Investments Decisions.
GBPJPY BUYHello, analysis of the GBP/JPY pair. There is a high probability of going up. With an upward flag. And break the bearish flag. The price is now in a very important area where there is a strong resistance from which the price bounced several times. The price is now trying to break it. to rise to the level of 168,000 .Note: If you like this analysis, please give your opinion on it. in the comments. I will be happy to share ideas. Like and click to get free content. Thank you
GBPJPY: best entry?GBP/JPY (British Pound - Japanese Yen) is the forex ticker that tells traders how many Japanese Yen are needed to buy a British Pound. The Pound is the fourth most traded currency in the world, while the Japanese Yen is third, according to the Bank for International Settlements (2016). Use the GBP/JPY chart to follow its live rate and to assist your technical analysis when trading this pair. For the latest GBP/JPY news and Pound - Yen forecast, follow our expert articles.
longGBP/JPY Potential buy & sell opportunity on GJ
wait for confirmation before entering any trades
potential entry around 162.000 support area
for buyers to take over the market.
If price break & close below 162.000 support area
There's possibilities that price can head back for
weekly lows on GJ.
Pay attention to price action.
GBPJPY LONGAs we can see on PEPPERSTONE: GBPJPY 4 hour chart setting up for another long setup. We can see clear liquidity area below the current consolidation & also clean demand zone which occur BOS (brake of structure). With in next week we are accepting price fall to demand zone & price will make another new high.
Gbpjpy buyGj is has shown a rejection to its trendline and this running candle will be our decision candle to enter it closes above 172.238 then on retest we will enter cz this is going to be a confirmation candle as it seems to be a Marbozo or an Bullish engulfing so we will wait to close this candle and then enter otherwise for sell setup we will wait for price to breakdown to the level of 171.097 then we will consider it as bearish
Confluance for bullish trend we have a pretty good wick rejection of previous candle also the forming candle has great volume on H4 also it will be breaking daily resistance level the third cofluance is EMA 200 which shows uptrend
We are waiting for closing of current H4 candle to make a decision
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.
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
GBP/JPY at a critical point: Buy/Sell or do nothing?GBP/JPY is at a critical level. In the daily chart, you can see that price is quite overstretched and a
correction is necessary. However, in the 4H chart, price has rebounded from the dynamic support in
the 168 level. So, it is important to exercise some caution.
168 is the key level. If this level holds, then price may continue to keep going higher. However, if 168 breaks
with a strong bearish candle, we can see a fall till 165.
My personal recommendation is to wait and watch. I would consider selling if GBPJPY reaches 172 again because
that level has been established as a resistance. Initial TP would be at 168