Gbpjpyshort
GBP/JPY Rises to new 2023 peakSTRATEGY LONG
British Pound Sterling Japanese Yen traded at 171.115 this Friday April 28th, increasing 3.864 or 2.31 percent since the previous trading session. Looking back, over the last four weeks, GBPJPY gained 4.63 percent. Over the last 12 months, its price rose by 4.84 percent.
Larger bulls are likely to take a breather in coming sessions as 14-d momentum and RSI are at the border of overbought zone, suggesting that traders may collect some profits from three-day rally which accelerated on Friday.
Pullback should offer better buying opportunities, with extended dips expected to find support above 168.00 zone (broken Fibo 76.4% level at / former tops of Apr 19/25) to keep bulls in play.
Res: 170.00; 170.95; 172.11; 174.98.
Sup: 137.00; 168.36; 168.00; 167.18.
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: 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 ♥
GBPJPY BuyIn my view the current price is 169.766 and its a sell opportunity for scalpers tp will be 167.734
Now to the main idea GBPJPY will give us a buying opportunity at 167.892 to 167.734 zone till 170.247 upwards after i have already taken a scalping position as i mentioned earlier now i will wait for the confirmation to enter long
GBPJPY 15M 02/05/2023 Currently, on the 15-minute timeframe, we are in a bearish trend formed by two changes in structure. Therefore, we are currently in a bearish range that goes from 171.604 to 169.952, with the latter being the liquidity point of the current bearish range. We have a demand zone in the area of 171.559 to 171.382, and the second zone is between 172.328 and 172.162. We could expect a reaction in both zones, provided we observe how the price orders approach these areas. Alternatively, we could wait for these ranges to be liquidated and broken to establish a new bullish trend and liquidate the liquidity points of the previously established ranges.
GBP/JPY - Double Top - Bearish DivergenceOverview
FX:GBPJPY has formed bearish divergence and double top pattern after having a strong bullish rally!
Analysis & Plan
Double top is a bearish reversal pattern which indicates a change of trend from bullish to bearish. Bearish divergence is also an indicator of a weak bullish trend, hence our bias for FX:GBPJPY is currently bearish. We are looking to short break of support (neckline) and enter via a sell stop order!