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GBPJPY.100.CSM trade ideas

GBP/JPY: Bearish Bias Pushes Price Toward Key Support LevelOver the last three trading weeks, the GBP/JPY pair has depreciated by more than 3%, establishing a firm bearish bias in favor of the yen in the short term. This perspective has remained intact primarily due to growing expectations of a more dovish monetary policy from the Bank of England, which left its interest rate unchanged at 4.5% in its latest meeting. Markets now anticipate a 25 basis point rate cut at the upcoming May 8 meeting, potentially bringing the rate down to 4.25%. This expectation is supported by the fact that inflation in the UK currently stands at 2.6%, close to the central bank’s 2% target, further justifying the possibility of additional rate cuts in the short term. Lower interest rates in the UK reduce the appeal of GBP-denominated assets, which in turn can drive selling pressure on the pound. Safe-Haven Demand for the Yen It is also important to note that the Japanese yen is historically seen as a safe-haven currency, due to its relative stability compared to other major currencies. As the global tariff conflict intensifies and economic growth prospects weaken, demand for the yen is likely to increase further in the short term. This dynamic could lead to continued downside pressure on GBP/JPY. Broad Sideways Channel Still Intact Since August 2024, GBP/JPY has traded within a well-defined sideways channel, with resistance around 198.676 and support near 186.932. Recent bearish moves have not been strong enough to break below this key support, suggesting that this lateral formation remains the dominant structure for upcoming sessions. Indicators Show Growing Neutrality: MACD: The MACD histogram is currently sitting around the neutral 0 line, indicating that the average momentum of recent moving averages remains in balance, with no dominant force in either direction. RSI: A similar situation is seen in the RSI, which is hovering near the neutral 50 zone. This reflects a constant balance between buying and selling pressure. Together, these indicators suggest persistent neutrality, likely due to the strong support zone that the price is currently testing. Key Levels to Watch: 190.14: A near-term resistance level, aligned with the Ichimoku cloud barrier. A bounce toward this level could reactivate short-term bullish momentum. 192.493: A significant resistance, located at the convergence of the 100- and 200-period moving averages. A return to this area could reinforce the validity of the sideways channel still visible on the chart. 186.93: Key support level, located at the lower boundary of the broad sideways range. Bearish moves that manage to break below this level could mark the beginning of a much more significant downtrend in the upcoming sessions. Written by Julian Pineda, CFA – Market Analyst
by FOREXcom
Am I receiving inaccurate data on my charts? On April 9, 2025, I conducted a chart analysis and drew a vertical line labeled WLQ (Weekly Liquidity). The following week, I observed what appeared to be a wick touching the WLQ line. I initially blamed myself for being careless and possibly overlooking this detail. However, I was fairly confident that I hadn’t made such an error. A day or two later, upon revisiting the chart, I noticed that the wick was no longer visible and that the line was placed accurately, just as I had originally drawn it. This inconsistency was quite surprising, so I took a screenshot as evidence. Given this experience, I’m beginning to question whether I'm receiving inaccurate or inconsistent data on my charts. Has anyone else encountered something similar, or could there be another explanation for this?
Education
by Michael_ict_jr
1
GBPJPY Poised for Breakout: Bullish Reversal from Key Support The GBP/JPY pair is exhibiting range-bound behavior with a neutral intraday bias. The price action is oscillating between key support and resistance levels, indicating a lack of decisive momentum in either direction The overall sentiment remains cautiously bullish, with traders eyeing the key resistance at 190.00. The recent price action suggests building momentum, but confirmation through a breakout is essential before committing to long positions. In summary, the GBP/JPY pair is at a critical juncture. The alignment of technical indicators and market structures supports the potential for a bullish continuation, but traders should await confirmation through a break above key resistance levels As always, we’ll stay reactive and follow price action confirmation and update the VIP members timely. No chasing — just smart, structured trades. Let’s stay patient and ready. Stick to the plan, Forex Mind Empire
Long
by Forex_Mind_Empire
This is a divergence cheat sheet showing how to identify and intGreat — now we’re looking at a full reference chart that summarizes all four types of divergence using price action vs RSI. It’s super well-organized. Let me break it down for you clearly: 📊 WHAT THIS ILLUSTRATION REPRESENTS: This is a divergence cheat sheet showing how to identify and interpret: 🔁 Regular Divergence (signals a potential reversal) Regular Bullish Divergence (bottom right) Price: lower lows RSI: higher lows 🔁 Reversal to the upside possible (after a downtrend) Regular Bearish Divergence (top center) Price: higher highs RSI: lower highs 🔁 Reversal to the downside possible (after an uptrend) 🔄 Hidden Divergence (signals trend continuation) Hidden Bullish Divergence (bottom left) Price: higher lows RSI: lower lows 🔄 Suggests uptrend will continue after a pullback Hidden Bearish Divergence (top right) Price: lower highs RSI: higher highs 🔄 Suggests downtrend will continue after a pullback 💡 Summary Table: Type Price Pattern RSI Pattern Interpretation Regular Bullish Lower Lows Higher Lows Reversal to upside Regular Bearish Higher Highs Lower Highs Reversal to downside Hidden Bullish Higher Lows Lower Lows Continuation uptrend Hidden Bearish Lower Highs Higher Highs Continuation downtrend
Education
by youraa
3
GBPJPY - Sell Opportunity Following Resistance Test?Based on the 4-hour chart of GBP/JPY, the pair has been consolidating within a range after a significant decline from the 195.00 area. The currency is currently testing resistance around the 189.00 level, marked by the blue highlighted zone. We anticipate a temporary break above this consolidation zone as price completes a correction, which would offer an attractive selling opportunity. Traders should watch for price action confirmation after the break above the zone before entering short positions, as the broader trend appears to remain bearish. Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Short
by financialflagship
Buy-the-Dip Setup on GBP/JPY with Target at Previous HighGBP/JPY is currently trading at 188.85, within a corrective move but still preserving its bullish structure, as long as price remains above the 178.00 support floor. The zone between 184.57 and 178.03 marks a strong weekly demand area, which aligns with previous consolidation and demand before impulsive moves. The price is below the Ichimoku cloud (Span A: 190.90, Span B: 192.93), indicating short-term bearish momentum. However, this could simply be a retracement within a larger bullish trend, especially since the market has not yet broken structure to the downside. Trend Strength Index (TSI) readings show a clear loss of momentum: TSI(10): -0.62 TSI(20): -0.56 These values are near oversold levels, increasing the likelihood of a bullish reversal, especially within a key demand zone. Liquidity above recent local highs may serve as fuel for a breakout if bulls reclaim key levels near the cloud base. If price confirms support at 184–178, the bullish setup targets a return to the previous swing high at 208.11. This would offer a highly favorable risk-to-reward ratio, with the invalidation clearly placed below 178.00. Trade Setup Summary: Long Entry Zone: 184.57 – 178.03 Stop Loss: Below 178.00 Target: 208.11 (previous high) Structure Bias: Bullish above 178.00 The British pound remains relatively strong as the Bank of England signals caution before cutting rates, contrasting with Japan's ultra-loose monetary policy. While the yen remains fundamentally weak, there is always potential for temporary JPY strength due to risk-off flows. However, unless the BoJ surprises with policy shifts, GBP/JPY continues to favor upside on both structural and macroeconomic grounds. Disclaimer: This content is for educational and informational purposes only. It does not represent financial advice or a recommendation to buy or sell any financial instrument. Trading involves risk, and you should only trade with money you can afford to lose.
Long
by SupertradeOfficial