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GBP/JPY Mini

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GBPJPY.100.CSM trade ideas

Elliott Wave Indicates Bearish Sequence for GBPJPYThe Elliott Wave perspective indicates that GBPJPY has entered a bearish sequence from its October 30, 2024 high. It signals further downside potential. From that peak, wave (W) concluded at 187.05, followed by a wave (X) rally that terminated at 195.94, as illustrated in the accompanying 1-hour chart. Currently, wave (Y) is unfolding lower, exhibiting an internal zigzag structure. Breaking it down from the wave (X) high, wave ((i)) declined to 192.7. The subsequent wave ((ii)) rally peaked at 195.77. The pair then resumed its descent in wave ((iii)), reaching 187.51, before a wave ((iv)) bounce concluded at 190.29. The final leg, wave ((v)), completed at 186.05, marking the end of wave A in a higher degree. From there, wave B unfolded as a zigzag corrective pattern: wave ((a)) rose to 188.83, and wave ((b)) pulled back to 187.09. Wave ((c)) advanced to 190.08, completing wave B. The pair has since resumed its decline in wave C. In the near term, as long as the pivotal high at 195.94 remains intact, any rallies are expected to falter in a 3, 7, or 11 swing structure, reinforcing the outlook for further downside. Traders monitoring this setup should anticipate limited upside and watch for confirmation of this bearish continuation.
by Elliottwave-Forecast
[_] ONENTRY This will be second attempt if the first one hits SL ONENTRY GBP/JPY - ONENTRY ' 2Fib Strategy ' Timeframe: 30 Minutes Session: London Pre-Market (00:00 - 06:30 +2GMT) Step 1: Identify the Overnight Range Mark the high and low of the price range between 00:00 - 06:30 (+2GMT). Wait for a clear breakout with a candle closing above (for longs) or below (for shorts) this range. Step 2: Apply Fibonacci Levels After the breakout, use the Fibonacci retracement tool: Anchor Point 1: Start at the close of the breakout candle. Anchor Point 2: Drag to the start of the impulse move (first candle of the range). Key level for entry: 0.5 and 0.35 retracement. Step 3: Trade Execution Entry: Enter on a pullback to 0.5 and 0.35 Fib level after the breakout. Stop Loss : Long trades: Below the low of the breakout candle’s body. Short trades: Above the high of the breakout candle’s body. Take Profit Targets: TP1: 1.0 Fib (1:1 risk-reward). TP2: 1.25 Fib extension. TP3: 1.6 FIB extension TP4: 2.3 Fib extension (runner position). Step 4: Trade Management Move SL to breakeven when price hits TP1.
Short
by ONENTRY
[_] ONENTRYONENTRY First attempt ! GBP/JPY - ONENTRY ' 2Fib Strategy ' Timeframe: 30 Minutes Session: London Pre-Market (00:00 - 06:30 +2GMT) Step 1: Identify the Overnight Range Mark the high and low of the price range between 00:00 - 06:30 (+2GMT). Wait for a clear breakout with a candle closing above (for longs) or below (for shorts) this range. Step 2: Apply Fibonacci Levels After the breakout, use the Fibonacci retracement tool: Anchor Point 1: Start at the close of the breakout candle. Anchor Point 2: Drag to the start of the impulse move (first candle of the range). Key level for entry: 0.5 and 0.35 retracement. Step 3: Trade Execution Entry: Enter on a pullback to 0.5 and 0.35 Fib level after the breakout. Stop Loss : Long trades: Below the low of the breakout candle’s body. Short trades: Above the high of the breakout candle’s body. Take Profit Targets: TP1: 1.0 Fib (1:1 risk-reward). TP2: 1.25 Fib extension. TP3: 1.6 FIB extension TP4: 2.3 Fib extension (runner position). Step 4: Trade Management Move SL to breakeven when price hits TP1.
Short
by ONENTRY
[_] ONENTRYONENTRY GBP/JPY - ONENTRY ' 2Fib Strategy ' Timeframe: 30 Minutes Session: London Pre-Market (00:00 - 06:30 +2GMT) Step 1: Identify the Overnight Range Mark the high and low of the price range between 00:00 - 06:30 (+2GMT). Wait for a clear breakout with a candle closing above (for longs) or below (for shorts) this range. Step 2: Apply Fibonacci Levels After the breakout, use the Fibonacci retracement tool: Anchor Point 1: Start at the close of the breakout candle. Anchor Point 2: Drag to the start of the impulse move (first candle of the range). Key level for entry: 0.5 and 0.35 retracement. Step 3: Trade Execution Entry: Enter on a pullback to 0.5 and 0.35 Fib level after the breakout. Stop Loss : Long trades: Below the low of the breakout candle’s body. Short trades: Above the high of the breakout candle’s body. Take Profit Targets: TP1: 1.0 Fib (1:1 risk-reward). TP2: 1.25 Fib extension. TP3: 1.6 FIB extension TP4: 2.3 Fib extension (runner position). Step 4: Trade Management Move SL to breakeven when price hits TP1.
Short
by ONENTRY
GBPJPY H4 | Bearish Drop Based on the H4 chart, the price is rising toward our sell entry level at 191.02, a pullback resistance that aligns with the 50% Fibo retracement. Our take profit is set at 187.32, a multi-swing low support. The stop loss is set at 193.72, a pullback resistance that aligns with the 78.6% Fibo retracement. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (fxcm.com/uk): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (fxcm.com/eu): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (fxcm.com/au): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at fxcm.com/au Stratos Global LLC (fxcm.com/markets): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Short
by FXCM
1
GBP/JPY: Yen Strength Pushes Price Toward Key SupportGBP/JPY has posted a decline of more than 3% over the last four trading sessions, with bearish momentum growing as the market increasingly favors the Japanese yen in the short term. Demand for the yen has risen sharply since last week, when Donald Trump announced a minimum 10% tariff on all imports into the United States. This was further reinforced today by new comments proposing additional 50% tariffs on China, following Beijing’s announcement of countermeasures against the U.S. The yen is historically considered one of the safest currencies, and the recent surge in uncertainty has helped it hold strong against the British pound. Wide Sideways Range The pair remains within a broad long-term range, bounded by a ceiling near 198.676 and a floor around 186.932. Although recent selling has brought the pair close to the lower boundary, price action has not yet been strong enough to break this level, keeping the sideways channel as the dominant technical formation to watch for now. MACD The MACD indicator has started to show a shift in market momentum, with the histogram oscillating below the zero line. This reflects ongoing bearish pressure based on recent moving average behavior, and as long as this pattern persists, selling momentum in GBP/JPY may become increasingly relevant in the coming sessions. RSI The RSI also reflects a bearish tone, with the line currently holding below the 50 level. However, the indicator is gradually approaching the oversold zone near the 30 level, which is typically where selling pressure may begin to ease, potentially opening the door for short-term bullish corrections. Key Levels: 192.493 – Key resistance: Located in the middle of the broader range and roughly aligned with the 200-period moving average. Persistent price action near this level may signal the beginning of a bullish bias in the short term. 190.144 – Tentative zone: This level may act as a potential area for short-term bullish corrections. 186.932 – Current support: Positioned at the bottom of the broader range. If price action breaks below this level, it could pave the way for a much more significant downtrend in the sessions ahead. By Julian Pineda, CFA – Market Analyst
by FOREXcom
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