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Gbpjpysignals

GBPJPY Supported by the 1D MA50.The GBPJPY pair has been trading within a Channel Up since late May 2023. Recently it has been rising on a shorter term Channel Up (dotted) supported by the 1D MA50 (blue trend-line). As long as it does, we have to stay bullish short-term, targeting the top of the Channel at 195.000. Since however the blue Channel Up has already completed a symmetrical Higher High leg at +8.24% (similar to the August 22 2023 Higher High), we face a technical necessity for a strong pull-back. We are willing to take this sell only if the pair closes a 1D candle below the 1D MA50. When it does, we will take the loss on the buy and short towards the 1D MA200 (orange trend-line), targeting 186.500. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot
1
GBPJPY Pull-back to the 1W MA50 as per historic pattern.The GBPJPY pair broke recently above the 2023 High has been consolidating these past 3 weeks. This consolidation can technically be the start of a new correction back towards the 1W MA50 (blue trend-line) in order to test the market demand and get confirmation. This is exactly what took place in October 2014, which as you can see, is the fractal that GBPJPY's 4-year Channel Up (since the March 2020 COVID bottom), is almost identical to. In fact we are at the +53.99% increase level since the bottom as the pair was on September 2014, displaying remarkable fractal symmetry. Based on that, we are medium-term sellers on GBPJPY, targeting 183.000 (1W MA50) where we will reverse to a buy again and target the top of the Channel Up at 200.000. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
GbpJpy to rise at 195In December, GbpJpy experienced a corrective phase, typical of JPY pairs in this period (repatriation of capital). However, after testing the 179 support level three times, the pair reversed course at the beginning of the year, swiftly recovering previous losses and returning to previous highs. Currently, the pair is undergoing a minor correction following its rise in January. This presents a promising opportunity to participate in the overall bullish trend. A favorable buying range lies between 185.50 and 186.50. In terms of targets, aiming for the 195 resistance level in the medium term is reasonable.
Long
by Mihai_Iacob
4
GBPJPY Medium-term sellThe GBPJPY pair delivered the best sell signal possible on our last bearish call (November 30 2023, see chart below) as it got rejected exactly on the Higher Highs trend-line back to the Support of the Ascending Triangle: Today's analysis is on the 1D time-frame where you can see that the price then rebounded exactly on the 1D MA200 (orange trend-line) and hit again the Higher Highs trend-line. That makes it again a technical sell opportunity and we can see the price already starting to reverse. So far it continues to be a symmetrical price action with 2021 and early 2022 and along these lines, we can argue that this is a similar Higher Highs rejection with early January 2022. As a result, we are taking that sell opportunity to target the 1D MA200 at 183.000 as the pair did on January 24 2022. When the 1D RSI hits the 30.00 oversold barrier again, we will take a long-term buy position expecting a break above the Higher Highs trend-line this time. We will update on the Target when that time comes. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
GBPJPY: Consolidation and Complete Indecision 🇬🇧🇯🇵 GBPJPY is very weak. The pair is coiling within a narrow range for 2 weeks. FED & BOE interest rate decisions are ahead. These news can be the important catalysts for the pair. Watch carefully how the price reacts to the boundaries of the range. If the price breaks and closes above 188.95 on a daily, for us, it will be a strong trend following signal. A bullish continuation will be expected then. Alternatively, a bearish breakout and a daily candle close below 187.1 can give us a strong bearish confirmation and trigger a correctional movement. Of course, because the trend is bullish, probabilities are higher that we will see a movement up. However, I strictly recommend to wait for a confirmation first. ❤️Please, support my work with like, thank you!❤️
Long
by VasilyTrader
5
GBPJPY Cyclical sell opportunityIt's been quite long since we had a short-term trade (see chart below) on the GBPJPY pair: This time we found an excellent long-term sell opportunity on the 1W time-frame. As you can see it is cyclical in nature having emerged by the rejection of the price on the Higher Highs trend-line of the 4-month Ascending Triangle. The cyclical characterization stems from the comparison with the October 18 2021 rejection on a similar Ascending Triangle Higher High trend-line. The whole structure of the two fractals looks very much alike as they both started off with an aggressive expansion phase that led to the Triangle. The Higher High rejection then, led to a 1W MA50 (blue trend-line) test. We are aiming for that same 1W MA50 test, expecting it to make contact with the bottom of the Ascending Triangle at 178.500. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
Forget USDJPY: Time to watch GBPJPY for intervention? The UK’s inflation rate due this week (early early Wednesday morning), and there is a huge projected drop in the reading from last month, from 6.7% to 4.8%. This huge drop leaves a lot of room for disappointment, and higher CPI reading could exert upside pressure on the GBPJPY, which is already at a multi-month high. It is for this reason I bring up the possibility that traders should watch for intervention in this pair, whether direct or indirect. Supporting the possibility of a bullish GBPJPY is the rejection of yesterday's significant downside wick (touching the 50-day moving average on the 1-hour chart). This rejection was followed by a further move to the upside. Further upside will see the pair challenge the three-month high at 186.77 and open the possibility for a correction/ intervention. In the past, ¥185.00 has proven to be somewhat of an anchor point for the pair, but perhaps a more accurate support is now ¥185.50? Don’t forget that US CPI numbers are due this week too, one day before UK numbers hit the market.
by BlackBull_Markets
GBPJPY Head and Shoulders sell signalThe GBPJPY pair gave us a nice low risk sell trade last time we looked at it (see chart below): This time it gives an even stronger one as it is on the 1W time-frame in the midst of a Head and Shoulders (H&S) formation. That is a bearish pattern calling for a a test of Support at 176.500. Most likely by the time of the test, the 1W MA50 (blue trend-line) will be very close to provide the first level of long-term Support. Notice that the 1W RSI is on Channel Down pattern similar to the April - August 2021 H&S and so does the 1W MACD which is coming off a Bearish Cross. That pattern eventually hit its Support once completed. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
GbpJpy- Drop ofter confluence resistance test?In my previous analysis on GbpJpy, I said that the pair could rise and test confluence resistance at around 183. Friday's close found the pair exactly in that level and after the gap from Monday's open, the pair continued down. At this moment the pair is trading in the support given by the recent ascending trend line and a break above this level is probable. In such an instance, continuation is probable and the paint could reach the previous low. I'm bearish as long as the price stays under 183
Short
by Mihai_Iacob
4
GbpJpy- More than 500 pips selling opportunity2023 was a very strong year for GbpJpy, with the pair rising more than 3k pips, exceeding my target of 180 as explained in both my 17th of January 2022 and 20th of April 2022 long-term analysis. Although the pair remains in an up trend, for a month now, GbpJpy has failed on 186, unable to make a new high, leaving long up-tailed weekly candles. This suggests that a top could be in place and a much-needed correction could follow. With this in mind, I will look to sell rallies for a medium-term trade with a 500 pips target. A new high would negate my outlook. My previous long-term analyses for GbpJpy:
Long
by Mihai_Iacob
13
GBPJPY Sell signal on this Triangle pattern.The GBPJPY pair is trading within a Triangle pattern, similar to July's. The price is currently approaching the 4H MA200 (orange trend-line), which is untouched since August 08. As long as the pair closes below the 0.382 Fibonacci level, we are selling the bearish break-out and target 181.600 (Fibonacci 1.5). Notice how the 4H MACD sequences between the two fractals are identical. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot