GBPJPY - Another short ✅Hello traders!
‼️ This is my perspective on GBPJPY.
Technical analysis: On higher timeframe we are in a bearish market structure, that's why I look for shorts. Here I expect bearish price action as price rejected from bearish order block + institutional big figure 167.000. My target is liquidity below equal lows + imbalance.
Fundamental analysis: Tomorrow we have news on JPY, will be release Policy Rate and BOJ Press Conference, if the results are positive for JPY, this will support our move.
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Gbpjpyshort
GBP/JPY: Short opportunity to catch +500 pips- Price respected the last swing high at supply area around 168.0, A good sign for strong sellers at supply area.
- After forming equal highs at supply area, price dropped with an impulsive bearish move to 165.500 forming equal lows.
- A huge pole of liquidity built below 165.500.
- Also we can observe an imbalance on the last bearish move from 167.0 to 166.500.
- liquidity built below 165.500 will grab the price down also an imbalance needs to be filled.
* We may have a bearish move to 161.0 demand zone after retesting 167.0 filling the imbalance
GBP/JPY - Double Top - Bearish DivergenceGBP/JPY has formed double top, which is a bearish reversal pattern. Price is likely to break support (neckline) and start a bearish trend. Price is also showing Bearish Divergence on RSI which means there's a possibility of a bearish reversal anytime now! Will be looking to short ONLY if support is broken with stop loss above the double top!
GBP/JPY: Brace Yourself for BoJ's AnnouncementWith safe haven currencies pulling in the most buyers this week, including the yen and the US dollar, what will happen to the USD/JPY and the GBP/JPY leading up to, and after, the Interest Rate Decision due from the Bank of Japan on Friday?
Markets will likely be watching this decision super closely regardless of their expectation for the BoJ to leave interest rates unchanged. This is because this is the BoJ's first interest rate decision with its new Governor Kazuo Ueda. Commentary that goes alongside the interest rate decision will be scrutinized for any indication when Ueda might start tightening monetary policy. The BoJ will likely try to prepare markets far in advance, so it's not unlikely that Ueda might prepare some very small non-committal comments that speak to this on Friday, while standing firmly behind his preference for maintaining the current yield curve control in the short to medium term, which he has reaffirmed at every outing since taking control of the central bank.
The GBP/JPY has plunged from a weekly high of just under 168.000 to just under 166.000 at the time of writing as risk-averse trades take over the market. The pair did bottom out at 165.400 before a slight rebound with support appearing at 165.550.
Looking at the 1-hour chart of the GBP/JPY, the pair took advantage of the stability of the support level of 165.550 to activate value hunters to enter the market and help the pair surpass the 165.800 support line from earlier sessions. But it has been rejected at 166.10 once already in this bullish push. Next up, we will see how well 165.800 holds up if the downside push has any momentum. However, the Stochastic Indicator is not pointing too much momentum in the pair right now, at least in the 1-hour timeframe.
GBPJPY Shorting completedAfter the London session open, it was followed by impulsive move upside and then another big move to the downside, taking out the small retailers.
As shown in the last idea, our trade played out well hitting both tp1 and tp2 and almost near to tp3.
Exiting the trade here, as its risky to keep holding. Will be entering again once the market stabilises.
GBPJPY: Continued uptrend after correction!GBPJPY rebounds from 167.50 as bulky UK Inflation supports hawkish BoE bets
According to the latest release of UK inflation figures, the headline Consumer Price Index (CPI) has slightly decreased from 10.4% to 10.1%. This decline can be attributed to the drop in energy prices used for heating and electricity. Despite this, investors are not happy with the inflation rate remaining in double digits. Additionally, food prices have reached a new high of 19.1%, the highest in 45 years.
GBPJPY SHORT TO 149📉 (2,000+ PIPS OPPORTUNITY!)GJ is getting ready to take a huge dive down towards 150-148, leading into the coming summer. This is offering us a huge swing opportunity of 2,000 PIPS, for those who are patient enough to hold on long term. The 2D TF is attached below.
Selling Confluences:
🚫5 Wave Impulse Move Complete.
🚫Corrective Move Yet to Follow.
🚫Buying Momentum Choppy.
🚫Buying LQ Already Taken.
Drop a like/follow and let me know what you think✅
GBPJPY SHORT TO 149📉 (2,000+ PIPS OPPORTUNITY!)GJ is getting ready to take a huge dive down towards 150-148, leading into the coming summer. This is offering us a huge swing opportunity of 2,000 PIPS, for those who are patient enough to hold on long term.
Selling Confluences:
🚫5 Wave Impulse Move Complete.
🚫Corrective Move Yet to Follow.
🚫Buying Momentum Choppy.
🚫Buying LQ Already Taken.
Drop a like/follow and let me know what you think✅
GBPJPY SHORTCurrently, the GBP/JPY index is experiencing a decline. This index represents the ratio of the British pound (GBP) to one of the Japanese currencies (JPY) and is known as one of the most volatile indices in the forex market.
The reasons that may cause a decline in this index can be economic, political, and global factors. For example, changes in interest rates, economic sanctions, changes in government policies, and changes in global market conditions can be influential.
If the GBP/JPY index is currently declining, it is probably due to investors' efforts to purchase Japanese currency to hedge market volatility risks. Additionally, an increase in interest rates by the Bank of Japan and economic sanctions on some countries can lead to a decrease in the value of the GBP.
Finally, to see the exact effects of events on the GBP/JPY index, you should pay attention to forex market technical analysis and related news. However, generally, a decline in the GBP/JPY index indicates concern and instability in the market and can be challenging for investors.
GBPJPY and EURJPY top-down analysis Hello 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.
GBPJPY soon sellThe GBPJPY pair resumed forming bullish waves by touching the target at 166.60 due to the continuous positive pressures caused by the major indicators that provide the positive momentum, and the stability of the additional support 164.70.
We expect to renew the bullish attempts to target 167.20 level, while surpassing this obstacle will confirm moving to the bullish track to start achieving additional gains that start at 168.25.
GBPJPY - Short active ✅Hello traders!
‼️ This is my perspective on GBPJPY.
Technical analysis: Here I expect bearish price action as we could see that price filled the imbalance and rejected from bearish order block + institutional big figure 168.000. There are 2 imbalances lower which I am targeting.
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GBPJPY - FUNDAMENTALS WITH SECHNICAL BIAS#GBPJPY
- According to the GBPJPY analysis we gave the previous day, the GBPJPY SELL SIDE WAVE was moving very well in the previous days. The reason for that was FUNDAMENTALLY STRONG JP10Y STRONG JPY STRONG causing GBP WEAK. And because the MARKET SENTIMENT is STRONG. XXXJPY has been selling very fast since last week.
- JPY has become somewhat STRONG as VIX is slightly UP. Due to this, STOCKS and XXXJPY CURRENCY were slightly SELL. GBPJPY also SELL because of that. But now there is a bit of RISK ON BIAS. Therefore, GJ can be BUY in the future.
- Currently GBPJPY LONG TERM can move up to the LEVEL 172.50. Also, according to the GBPJPY STRUCTURE, before BUY, you can move up to the 164.05 SUPPORT LEVEL to the RESISTANCE LEVEL.
Therefore, attention should be paid to MARKET UPDATES and MARKET SENTIMENT. Currently, the MARKET is somewhat RISK ON. Therefore, XXXJPY will be a BUY in the future. Therefore, pay attention to the CURRENT MARKET SENTIMENT.
2023/04/19 13:00 GBP/JPY analysisPivot point: 166.59
Currently: Resisted at 167.86 and retraced back to 167.43
Reaction: Consolidating at this 165.75 level, its next support zone is 165.34
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GBPJPY SELLHey Traders!
Undercover Trading LLC
I will be sharing a setup I have been waiting on for weeks here in this space which is GJ, so for the past few weeks GJ has been on a clear downtrend and we have seen it clearly on the daily from November 2022 till date.
Having cleared our bais issue we now look forward to determining where the price will be retracing/swinging from which is a very big deal and 80% of the time we are correct. So in doing that we picked a POI which is an order block that broke structure to the downside around December 2022 which also has a lot of imbalances left to be filled. With our UCT extra confirmations checked on the order block, we selected that as our POI which we will be selling directly from.
But in any case, if you wish to minimize your loss and increase your reward on each trade it is always best to trade with the 50% rule than look for lower timeframe entries but mind you, you'll miss lots of entries.
That's it for GJ, cheers guys!!!!
In order to avoid so many re-entries that come with refinement in POI I always advise trading off of the POI itself rather than looking for lower timeframe entries which I consider time-consuming and a rollercoaster of entries.