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GBPJPY Technical Analysis 09.06.2023 1h chart– Previous Daily candle closed small Bullish at 174.440 as price have been consolidating on the 4h timeframe.
-Buys on close above 174.520 targeting Weekly Rejection formed on 1st February 2016 at 175.020, Leaving Runners to the Previous Daily Support formed on 13th April 2015 at 175.700.
– Sells on close below 173.950 targeting 4h previous Resistance at 173.650, Leaving Runners to the Daily Support formed at 173.410.
– Overall the Thursday Daily candle have been ranging for this week, Buy targets remained the same as the Analysis posted for the 8th June 2023.
GBPJPYAlthough I'd prefer a short, I will rather wait to see where market chooses to go.
Disclaimer: Past results does not guarantee future results. All ideas are shared for educational purposes and should not be treated as investment advice
GBPJPY Technical Analysis 08.06.2023 1h chart– Previous Daily candle closed Bullish at 174.160 forming Daily Support at 174.430.
– Buys on close above 174.130 targeting Weekly Rejection formed on 1s February 2016 at 175.020, Leaving Runners to the previous Daily Support formed on 13th April 2015 at 175.700.
– Sells on close below 173.780 targeting Daily Support at 173.430, Leaving Runners to the 4h Support formed at 172.990.
– With high volume session there is a good probability for price to continue Bullish as the current Weekly still respecting the previous Weekly Low and the Daily this Wednesday closing Bullish above Daily Resistance formed on Monday 5th June 2023.
GBPJPY Technical Analysis 07.06.2023 1h chart– Previous Daily candle closed Bearish at 173.420 leaving a Rejection wick to the downside around 172.680.
– Buys on close above 173.780 targeting Daily Resistance at 174.130, Leaving Runners to the 30min Resistance formed around 174.370.
– Sells on close below 173.100 targeting 30min Support at 172.760, Leaving Runners to the 4h Support formed around 172.300.
– Despite Daily closing Bearish price keeps on rejecting the Downside and retracing back closing above the recent Daily Support formed on Thursday 1st June 2023.
GBPJPY Technical Analysis 06.06.2023 1h chart– Previous Daily candle closed Bearish at 173.560 forming Daily Resistance around 174.130.
– Buys on close above 173.760 targeting Daily Resistance formed at 174.130, Leaving Runners to the 30min Resistance formed at 174.370
– Sells on close below 173.010 targeting 1h Support at 172.680, Leaving Runners to the 4h Support formed at 172.300.
– The Daily Low formed on Monday this week at 172.850 could be retested if price respect Daily Resistance formed around 174.130.
ASIA: GJ - B&R - DEPLETIONBreak and retest setup seems to be carrying over from Friday, lets see if bulls can make a nice push for a few Rs
GBPJPY Technical Analysis 05.06.2023 1h chart– Previous Weekly candle closed Bullish at 174.120, Friday Daily candle also closed Bullish but left a slight Rejection to the upside.
– Buys on close above 174.350 targeting the Friday Daily High for a Wick Fill at 174.690, Leaving Runners to the Weekly Rejection formed on 1st February 2016 at 175.020.
– Sells on close below 173.680 targeting Daily Support formed at 173.300, Leaving Runners to the 1h Support formed at 173.020.
– Overall price have been Consolidating on the Daily timeframe from last week and possibly price could form a Rejection to the Upside as the last Weekly candle closes small Bullish compared to the previous 2 Weekly candles.
GBPJPY Technical Analysis 02.06.2023 1h chart– Previous Daily candle closed Bullish at 173.820 forming new Daily Support around 173.300.
– Buys on close above 174.100 targeting Daily Resistance formed on 2nd February 2016 at 174.580, Leaving Runners to the Weekly Rejection formed on 1st February 2016 at 175.020.
– Sells on close below 173.580 targeting Daily Support formed at 173.300, Leaving Runners to the 1h Support formed at 173.020.
– Despite the Thursday Daily candle closing Bullish above the weak Daily Resistance formed this week price is still consolidating on the 4h and 1h timeframe so ideally is to wait for a good confirmation before taking any positions.
GBPJPY Technical Analysis 01.06.2023 1h chart– Previous Daily candle closed Bearish at 173.300 leaving a Rejection wick around 172.520.
– Buys on close above 173.570 targeting 1h Resistance at 173.950, Leaving Runners to the 30min Resistance at 174.290.
– Sells on close below 173.020 targeting 1h Support at 172.670, Leaving Runners to the 4h Support formed around 172.310.
– As Wednesday Daily candle closed back within the range it would be ideal to wait for confirmation before taking positions and to manage risk accordingly.
GBPJPY Technical Analysis 31.05.2023 1h chart– Previous Daily candle closed Doji Bullish at 173.480 as Daily rejects the 173.300 area.
– Buys on close above 173.290 targeting 30min Resistance at 174.290, Leaving Runners to the Daily Resistance formed on 2nd February 2016 at 174.600.
– Sells on close below 173.110 targeting 1h previous Resistance formed on Thursday 25th May 2023 at 172.730, Leaving Runners to the 1h strong Support formed at 172.280.
– Targets for Sells remained the same as the Analysis posted yesterday as price respected the 1h Support around 173.100.
GBPJPY Technical Analysis 30.05.2023 1h chart– Previous Daily candle closed Doji Bearish at 173.460 forming a Rejection wick to the upside
– Buys on close above 173.600 targeting 1h Resistance at 173.940, Leaving Runners to the Daily Resistance formed on 2nd February 2016 at 174.550.
– Sells on close below 173.100 targeting 1h previous Resistance at 172.730, Leaving Runners to the 1h Strong Support formed at 172.280.
– Overall price has been ranging on Monday due to UK Bank Holiday, Ideally is to wait for a better confirmation to have a higher probability winning trade.
gbpjpy Sometimes JPY just keeps getting weaker, bulls are enjoying a long way and more to go.
We are looking for a buy in the demand zone where lies the imbalance to be filled. looking forward for 5R trade on this.
we will be looking to enter the extreme zone.
GBPJPY Technical Analysis 29.05.2023 1h chart– Previous Weekly candle closed Bullish at 173.510 closing above Weekly Resistance formed on 1st week of February 2016, Friday Daily candle also closed Bullish breaking out of the recent Daily Consolidation zone.
– Buys on close above 173.750 targeting Daily Resistance formed on 2nd February 2016 at 174.550, Leaving Runners to the Weekly Rejection wick formed on 1st February 2016 at 175.020.
– Sells on close below 173.200 targeting 1h previous Resistance formed at 172.730, Leaving Runners to the 1h Strong Support formed at 172.280.
– Monday Bank Holiday in observance of the Summer Bank Holiday, Volume may be lower than usual as UK Banks will be closed.
GBP/JPY BUYGJ had been consolidating in a Range the last couple days and has now looked like has broken and closed above Buy zone (172.700) on the 1H indicating Buyers our in control.
1H close is significant and strong confirmation however a stronger added confirmation is if the bullish candle could hold above 172.700 for 14:00 NY session. This will further give me confidence this is likely to push up to 174.00/ 175.00. Price has not pushed to these highs in 7years.
I have set a Buy limit of entry @ 172.75 waiting for price to retrace back down around that zone for entry to trigger.
Sl@ 172.45 risking 30pips. I would be looking for atleast a 1:3, R:R as when there is a consolidation prior to a break out normally a big massive move follows.
GBPJPY Technical Analysis 26.05.2023 1h chart– Previous Daily candle closed Doji Bullish at 172.490 as the price keeps on ranging.
– Buys on close above 172.790 targeting 4h Resistance formed on 3rd February 2016 at 173.300, Leaving Runners to the 4h Rejection wick formed on the 3rd February 2016 aswell.
– Sells on close below 171.960 targeting Daily Support formed at 171.650, Leaving Runners to the 4h Support formed at 171.340.
– High Impact News at the Pre Asian session for Japanese Yen for Tokyo Core CPI y/y. We also have Retail Sales m/m data for the Pound Sterling before London open.
GBPJPY Technical Analysis 25.05.2023 1h chart– Previous Daily candle closed Bullish at 172.420 as the Daily consolidating for almost 1 week.
– Buys on close above 172.660 targeting Weekly Resistance formed on 1st February 2016 at 172.900, Leaving Runners to the 4h Resistance formed on 3rd February 2016 at 173.300.
– Sells on close below 171.960 targeting Daily Support formed at 171.650, Leaving Runners to the 4h Support formed at 171.340.
– Ideally is to wait for a better confirmation during high volume time and to secure when possible as price consolidating on the higher timeframe.
GBPJPY Technical Analysis 24.05.2023 1h chart– Previous Daily candle closed Bearish at 171.970 forming new Daily Resistance around 172.320 as the Daily timeframe has been ranging.
– Buys on close below 172.330 targeting 1h Resistance at 172.560, Leaving Runners to the Weekly Resistance formed on 1st February 2016 at 172.900.
– Sells on close below 171.870 targeting Daily Support at 171.650, Leaving Runners to the 1h Support formed at 171.400.
– High Impact News ahead for the UK Economy at Pre London as CPI y/y data to be released forecasting 8.2%, previously was : 10.1%, Bank Of England Governor Andrew Bailey due to speak at the Net Zero Delivery Summit in London at 10:30 GMT, He is also due to participate in a fireside chat titled ” Inflation and the Economy ” at the Wall Street Journal’s CEO Council Summit at 14:00.
GBPJPY Technical Analysis 23.05.2023 1h chart– Previous Daily candle closed Bullish at 172.320 forming new Daily Support at 171.680 as price breaks above the Daily Resistance formed last Friday.
– Buys on close above 172.500 targeting Weekly Resistance formed at 172.900, Leaving Runners to the 4h Resistance formed on 3rd February 2016 at 173.300.
– Sells on close below 172.050 targeting 30min Support at 171.740, Leaving Runners to the 4h Support formed at 171.460.
– High Impact News for the Pound Sterling during the London session for Flash Manufacturing PMI and Flash Services PMI.
GBPJPY Technical Analysis 22.05.2023 1h chart– Previous Weekly candle closed Bullish at 171.620 forming new Weekly Support around 168.920, Friday Daily candle closed Bearish forming new Daily Resistance at 172.060.
– Buys on close above 171.930 targeting 30min Resistance at 172.330, Leaving Runners to the Weekly previous Resistance formed on 1st February 2016 at 172.900.
– Sells on close below 171.210 targeting 4h previous Resistance formed on 10th May 2023 at 170.810, Leaving Runners to the 4h Support formed at 170.310.
– Ideally is to wait for price to consolidate during the Asian session to have a better probability trading setup around the London session.
GBPJPY 171.619 -0.25% SHORT IDEA 📉🐻💡HELLO EVERYONE
HOPE EVERYONE IS DOING GOOD.
* Looking at GBP/JPY In the coming week.
1. BSL TAKEN.
2. LOOKING FOR A PUSH INTO THE -OB for possible reversals.
3. Looking at momentum heading into the oderblock to determine if we might break above or what.
4. Looking at that unfilled FVG as a possible entry with the BEARS.
lets see how it goes.
IF THIS IDEA ASSISTS IN ANY OR IF YOU LIKE THIS ONE
SMASH THAT LIKE BUTTON & LEAVE A COMMENT.
ALWAYS APPRECIATED
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* Kindly follow your entry rules on entries & stops. |* Some of The idea's may be predictive yet are not financial advice or signals. | *Trading plans can change at anytime reactive to the market. | * Many stars must align with the plan before executing the trade, kindly follow your rules & RISK MANAGEMENT.
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LOVELY TRADING WEEK TO YOU!
GBPJPY Technical Analysis 19.05.2023 1h chart– Previous Daily candle closed small Bullish at 172.050 as the 4h timeframe has been consolidating during the Thursday trading session.
– Buys on close above 172.330 targeting Weekly Resistance formed on 1st February 2016 at 172.900, Leaving Runners to the 4h Resistance formed on 3rd February 2016 at 173.300.
– Sells on close below 171.770 targeting 4h Support at 171.340, Leaving Runners to the 30min Support formed at 171.030.
– Friday Daily candle could possibly wick up then reject pulling back closing Bearish to form Resistance, Idea based on the recent Daily candle and 4h consolidation zone.
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:
