GBPJPY 4h Chart updates#GBPJPY market confronts selling to strong pressure market face strong supply zone
Gbpjpyshort
GBP-JPY: POSSIBLE REVERSAL| SHORT SETUP | ONE HOURThis trading idea is designed to capture the reversal trend using Harmonic Pattern Technique. GBP-JPY is moving in a bearish direction and is expected to take reversal from Potential Reversal Zone (PRZ) shown in the chart. Bullish AB= CD Harmonic Pattern is used to identify the projection from its current price whereas Short Trade Setup is given to grab the trade opportunity before the reversal of the instrument. However, only TP1 is suggested at present due to expected reversal from PRZ.
GBPJPY Bearish ConditionsLast Friday had the buyers push price up with their last strength but got pushed back by the sellers at the supply/resistance zone around 165.50 region which made the daily candle end as a pin bar, and this is a good candle sign for a reversal to occur, and this week I would expect GBPJPY to push all the way down to 161.51 region if 164.38 region holds.
Price has closed below the purple 50 EMA which is also a good bearish sign
Its possible price won't consolidate once market opens and its also possible it moves up to 164.38 region for a retest but as long as price 164.38 holds GBPJPY is bearish.
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GBPJPY TRADE IDEA / DAY TRADE / SHORTThis is trade idea for GBPJPY Day Trade
-Sell in bearish breaker area (FVG 5 inside) with range 164.606 - 164.746 according to the confirmation that will occur.
-Risk Reward 1:1.5
GBP/JPY Short setup. I'm a bit late on this one since I haven't been working on any JPY pairs. But I'll start. My first level was reached and there has been a push down from it so far. Not sure how deep it will push for or for how long. I marked the first level retrospectively but as you can see from my past postings, I always draw the zones out like that. I will be paying attention to the next level. If price gets there soon, I will be sell the market from there. I think price will drop and fluctuate before getting there but if it gets there sooner, that's better. It might not get there at all and that's fine. There will still be opportunities later or elsewhere. FX:GBPJPY
GBPJPY: Bears enter!According to the Bank of Japan's Tankan survey for the first quarter, inflation expectations have increased slightly. Additionally, the Jibun Bank of Japan's manufacturing Purchasing Managers' Index (PMI) has risen from 48.6 to 49.2.
At the beginning of the week, cautious markets responded to recent news regarding oil production cuts and the subsequent rise in oil prices. Saudi Arabia, along with other OPEC+ oil producers, has announced additional cuts to oil production, totalling approximately 1.16 million barrels per day. The energy ministry of Saudi Arabia stated that these cuts were made as a precautionary measure to maintain stability in the oil market. As a result, the price of WTI crude oil experienced a notable increase, opening the week with a significant gap and reaching a record high of $81.51 during the first few hours of the Asian session on Monday.
Anticipate a further decline in the price.
GBP/JPY - Short; Watch for a reversal hereThis pair is very likely to react here, for a 200 pip drop. Wait for a clear reversal, though!
(When two Cypher Pattern's PRZ are this close together, usually there is a brief reaction off of the first PRZ and the turn happens in the second PRZ - Much like the case here.)
Here is a close up;
GBPJPY | Bearish ABCD PatternAs the price has rejected from the potential reversal zone ( PRZ ) its is likely to reverse the trend from here.The price is now making LH and LL .
GBPJPY 200 pips dropI expect a small pullback to 164.000 weekly level and then a massive drop to 162.000. Thats 200 Pips
GBPJPY: Upbeat Japan inflation, sluggish yields!During early Friday, the GBP/JPY bulls attacked the previous monthly high and refreshed the multi-day top by picking up bids around 164.80, despite the downbeat expectations of Japan inflation numbers. The latest run-up of the cross-currency pair can be attributed to the optimistic sentiment, even though the yields are still slow. It should be noted that no information has been omitted in this paraphrased text.
In March, the Tokyo Consumer Price Index (CPI) increased to 3.3%, which was higher than the expected 2.7%, but lower than the previous month's 3.4%. The Tokyo CPI, excluding food and energy, also rose to 3.4% compared to the previous reading of 3.2% and the market consensus of 3.3%. In February, Japan's Industrial Production growth exceeded estimations with a 4.5% month-on-month increase, compared to the expected 2.7% and the previous -5.3%. Similarly, Retail Trade showed an improvement in February with a 6.6% increase, surpassing the analysts' forecast of 5.8% and the previous reading of 5.0%. However, the unexpected increase in Japan's Unemployment rate from 2.4% to 2.6% in February can be attributed to the recent weakness of the Japanese Yen (JPY).
Technical analysis
A downward-sloping resistance line from December 13, 2022, near 164.80 by the press time, challenges immediate GBP/JPY upside.
GBPJPY - Short after taking BSL ✅Hello traders!
‼️ This is my perspective on GBPJPY .
Technical analysis: Here I see price to continue the retracement to fill the imbalance higher, as well to take all possible buy stop liquidity. I look for a short if price rejects from bearish order block + institutional big figure 165.000.
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#GBPJPY- PRICE HEADING TO MAKE YEARLY HIGH 2023HEY EVERYONE, GBPJPY has been bullish since last week sells off where price touched down the discounted price zone where it rejected and currently heading towards to make yearly high. It is possible due to GBP; continues to shows strong bullish momentum and where JPY is tumbling and showing no size of bullish behaviour. Last week selling has been recovered and indicating price dropped for a specific reason most of the selling position would have been wiped off and now retails trader will continue to jump in the market with sell orders. For us it would be wiser to wait for the price to come to our zone where we can sell for long shot.
Two opportunities are here, firstly is obviously the buying opportunity until it reaches our selling zone where we can sell for big bearish impulse.
GBPJPY Trade setup ShortNew trade Setup Idea
the pair has been making lower lows and lower highs on the chart . Fundamentally, GBP has reached it higher potential even after the BOE temporary push to keep it at 7 weeks high levels against the USD.
the fears in the Banking sector, Real estate sector have led to the flight to safety which has started from GOLD rise.
it will be followed by JPY and USD which are aligning up nicely.
thats why i am taking the short postion for with initial target in mind.
setup details
Entry Short :- 161.45-161.60
Stops :- 162.50
TP - 159 or closer
best of luck
GBPJPY Reversal PointGBPJPY is probably running its last bullish uptrend before a bearish turn to 156 region. Overall I am still bearish biased on GBPJPY but this is a possible bullish setup which I think has a high probability of occurrence.
We have the red 4hr trendline which has been serving as a resistance by pushing GBPJPY downwards, since February 23, 2023 and price is currently trading near it at the moment. I am of the opinion the trendline would hold today and GBPJPY would get rejected again but this is a 15mins TF analysis, and there's a possibility price touches 162.60 from the purple colored zone before the rejection to the downside happens.
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GBPJPY Bearish Bias!GBP-JPY is trading below the
Falling resistance in a downtrend
So we are bearish biased
And a move down
Is to be expected !
gbpjpy sell ideaas i was about to close my eyes my alarms started going off for GBP/JPY im looking for a Massive move to the Downside, i do NOT know if its going to happen now, but i have a Plan and am Prepared for this market to give us a Sniper entry!!
Disclaimer- information shared is for educational and demo purposes only, please master and practice proper risk management while trading in the financial markets!!
GBPJPY BUY Longpivot points levels for Standard, Fibonacci, Camarilla, Woodie's and Demark's are supplied. All technical studies are available in different time frames.
7 Reasons to Sell GBPJPY1 - Purple Trendline acting as S/R Level
2 - Blue Trendline acting as S/R Level
3 - Downtrend Channel
4 - Area of Strong Support/Resistance (Red background)
5 - Fib 50%(0.5) retracement level (Gold Line)
6 - Divergence on MACD & RSI (5minutes TF)
7 - Deep Wave (IV) correction of Wave (III) completed at 158.25 (Wave (IV) is a deep correction because Wave (II) correction was shallow)
Look out for reversal pattern in the zone to join the downtrend continuation. Please feel free to comment and like
20 Reasons For Sell GBPJPY 🔆MULTI-TIME FRAME TOP-DOWN ANALYSIS OVERVIEW☀️
1: ✨Eagle eye: Extremely Bear, But Current Move is lower high
2: 📆Monthly: Clear bull trend at monthly
3: 📅Weekly: A strong Order block at the previous top after its price goes higher low, low trend confirmed at weekly
4 🕛Daily: A clean intra-bear trend and inner structure make a choch, so officially at daily tf right now, bearish
😇7 Dimension analysis
🟢 analysis time frame: Daily
5: 1 Price Structure: bear
6: 2 Pattern Candle Chart: change in Guard correction
7: 3 Volume: High volumes on bearish candles good for the bear
8: 4 Momentum UNCONVENTIONAL Rsi: Resistance at 60 but current momentum sideways
9: 5 Volatility measure Bollinger bands: Squeeze
10: 6 Strength ADX: Bears are gaining strength
11: 7 Sentiment ROC: JPY is much stronger than GBP,
✔️ Entry Time Frame: H1
12: Entry TF Structure: Bigger structure is extremely bearish
13: entry move: waiting for an impulse move
14: Support resistance base: premium OB
15: FIB: waiting
☑️ final comments: sell At 5 min choch
16: 💡decision: sell
17: 🚀Entry: waiting for confirmation
18: ✋Stop losel:162
19: 🎯Take profit: 151
20: 😊Risk to reward Ratio: 1:7
🕛 Excepted Duration: 20 days
GBPJPY SHORT - MORE JPY STRENGTH!Waiting for a retest of 160.7244 or 161.858 to short GBPJPY back down to 4H swing lows at 157.092
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GBPJPY: ShortBased on my analysis, the GJ projecting is for short as it is creating a rising wedge. However, it is essential to note that the market can be volatile and subject to sudden shifts in sentiment, which could impact the outlook for GJ. Therefore, it is recommended that investors conduct their own research and due diligence before making any investment decisions
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.
