Shorting GJGJ sell idea, based on the 3rd touch on a large daily/weekly timeframe trendline, target can be reasonable in size due to the strength of positioning as well as alignment to other Yen pairs at this stage.
Gj
GBPJPY LONG ✅GJ is retesting a support zone, I expect a push up to the upside toward highlights zones in the next couple days. BUY!!
ASIA: GBPJPY 618 LIMIT W ATR SLPrice in a clear uptrend with GBP showing overall market strength. Price is moving quickly and I had to hurry and set a 618 limit buy order that got hit before I knew what was going on! Lets see what happens. Looking for at least 2R to start the week
WC0123 GBPJPY Outlook: Bullish til price action proves otherwiseMTF Analysis
Check annotations in the anchored notes for M-W-D-H4-H1 analysis.
GBPJPY - At a CrossroadHey there!
Gj is my favorite pair, such a nice volatile pair to work with, but lately it's been acting pretty crazy, that's why I haven't talked about it so much.
But, price is at an interesting spot right now. See this 160 level, it used to be a support in the recent past, and a strong one. It's been hit several times between last june-september. Then we had a squeeze short that went to grab all the 150.00 level's liquidity to go hit the ceiling at 170.00.
We broke back down 160.00 last december and since then we're ranging, between 155.00 and 160.00. Since december, we've hit 160.00 about 5-6 times and now we're getting the 7th one. But this one is different, see, JPY has been really weak lately, and also, it's been more volatile than GBP. You can see this by analysing the last swings of both currencies, check it out :
If we take last swing of each currency against the dollar we have :
GBPUSD last swing from 14/02 tu 20/02 => 2.85% variation
USDJPY last swing from 14/02 to 20/02 => 4.09% variation
So, this means that, for now, JPY is more sensitive to dollar than GBP is, so JPY is weaker than GBP against the dollar. In other words, in a situation like this one, if USDJPY is going up, so is GBPJPY.
In a previous analysis I was showing a potential rebound of USDJPY this week. If it was to happen I would look for a potential break of the 160.00 level but, I would really like to see the price to retrace a little bit before, to get a nice entry.
The situation :
1) We're ranging
2) GBP stronger than JPY lately
3) We're touching the top of the range, 7th touch
4) There's a huge imbalance just above the 161.00 resistance, if price was to break it would be vaccumed up to 164.00 - 165.00
5) We're waiting on a retracement with USDJPY, and it's been corelated with GJ lately
So, this one is not a textbook trade that's for sure. But, I know GJ, and right now, it looks like it wants to go get this 161.00 reistance. Ultimately, we'll let the market decide what it wants to do, and we'll be ready for what happens then
Cheers everyone and happy trading!!!
GbpJpy - Manipulation Point Trading Bias: Open
Market Cycle: n/a
No real valid market cycle,, a retracement of Tuesdays news is now complete..
I am long biased due to PA and the overnight rejection of the wkly low level, either from the weekly low at 161.23 of a backside trade on 162.07..
GbpJpy - Manipulation Point TradingBias: Long
Market Cycle: 2
Still long on GJ,, Looking at the 162.08 level it's a KL on the Daily, weekly, monthly TF's..
We're trading inside the 1h fvg, so theres potential that it moves bullish at anytime, I will only be looking for LQG on the MP's for the safer entry position's..
ASIA: GBPJPY REVERSAL/ABCD/EXT - MOMENTUMPrice has met all criteria for our 'reversal setup' and on top of that, price is hanging around the higher timeframe fib extension and ABCD completion levels. Lets see if ASIA can give at least give us a 2R idea in the bag
ASIA GJ BOBBI ON IB MOMENTUMIn confluence with other JPY pairs, GJ seems to be for action with a multitude of presented playbook setups. We will go with a break out break back in of supporting structure with an inside bar break entry. If works, has high potential to swing for higher targets
GBPJPY sellAfter our Trade from yesterday, we have a new setup for today. Asia closed good. The price will spicke into our OB or even session high and then probably drop.
If you want you can wait for a confirmation on a lower time frame, where you search for a ChoCH and an OB.
$JPYBASKET is also about to hit our OB so that a reversal has a good change to happen.
But I will enter directly when it hits our OB.
Entry:162.050
SL: 162.200
TP1: 161.472
TP2: 160.500
TP3: 160.150
Would not recommend to risk more than 1%.
Please like and comment what you think!
ASIA GJ H&S/LIBRA/BO ON MOMENTUMIn line with previous entries, GJ seems content to continue bullish push by painting a Libra Setup with momentum break out bar. Aiming for at least 1:2 RR and further liquidity sitting further above 161.500
LONDON: GBPJPY REVERSAL - MOMENTUMGJ has produced one of our favorite playbook setups! the 'Reversal' with all conditions met to enter trade on a momentum shift to the downside. Lets see if we can at least hit 2R on this one
GJ SELLFinally we hit our OB and now we have a CHoCH, and a new OB for an entry.
Entry: 161.624
SL: 161.755
TP1: 161.3
TP2: 160.500
TP3: 160.155
Wha do you guys think? Please like and comment what you think!
Thank you and have a great start in the week!
GBPJPY longs soonWith the current rate of the market, there is confident supply and I believe Gj will push to the upside soon.
GJNot going to take it, just going to monitor it and watch it over the day. I would rather look for a better entry next week. I do not like holding trades over weekends due to broker regulations.
GJI am now closing all my trades, they are in slight profit. I just do not like the way the market is moving and the volatility is too slow. So I would rather take my little profit than risk giving to the market, I also will be busy for a while so I do not want to leave un-monitored trades running.
GJ SELL IDEAAfter we broke structure (BOS), we have a potential to drive lower.
We created an OB (blue/grey zone) in Asia, which has to get filled.
Waiting for the price to come up to 161.700-161.855
TP 1 Asia Range (161.000)
TP 2 Asia Range (160.160)
What do you guys think about this idea?
Please like and comment what you think!
GJClosed half the trades because my goal for the day was reached, so I left the other half running and opened a few more when it retested. I'm going to add just 2 more this morning once the W formation is complete.
GJThis is where I'm seeing GJ head to. Yet I'm not entering yet, I'm going to wait for an impulsive bullish candle. The trend has been bullish, so this is a retracement and we enter continuation.
GBPJPY SHORTHi Traders,
A possibility for price make a drop bouncing off the supply area. I will wait for confirmation for sell entry.
Entry Price: 159.2
Target Price: 156.4
Hit the Boost and Follow me if u agree. Trade Safe!
Thank you.
GBPJPY swing short setupPrice already showed a great reaction to HTF OTE (70.5% of swing), we have a raid of eqhs as our stop and a 1D OB in OTE provides the entry.
I'm aiming for trendline liquidity below for a partial TP and the HTF EQLs as a final TP.
GJI don't even remember why I had set this but I'm seeing it now. We are still sharp and that shows with the direction, volatility and overall RR.
GJWe either wait for the break upwards and retest before entering, we are not going to enter prematurely or else we will pay for breaking rules. We could also see a break downwards so we will watch that and stay cognizant of todays fundamentals.
