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GBP/JPY Mini

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GBPJPY.100.CSM trade ideas

GBPJPY TO PUSH PAST 200.00Q3 of 2024 saw the pair tumbling from the high 208.117, thanks to the July sellers, with the help various factors listed below: 1. Economic Data Releases: Poor economic indicators from the UK, such as weak GDP growth, rising inflation, or disappointing employment figures, negatively impact the pound. 2. Monetary Policy Decisions: If the Bank of England signaled to reduce the rate by 0.25 percentage points after MPC voted by a majority of 5-4. 3. Market Sentiment: Shifts in global market sentiment, including concerns about geopolitical tensions in the Israel/Pakistan on the other hand the ongoing tension between Ukraine and Russia. Adding the economic slowdowns, led investors to favor the yen, a traditional safe-haven currency. 4. Brexit Developments: Ongoing negotiations or issues related to Brexit may have continued to affect the pound's performance. Enough with the fundamentals 🤦‍♂️ Now the fun part, price action and technicals - After all that storm caused by fundametals we were just talking about... price found support at the 191.852 level with strong rejections - Then a resistance formed at the 196.004 level. A resistance that price closed during December to mark a good end to the 2024 year? Maybe. Just a few wicks to break for price to push all the way to 203.00. - Talking about 203.00, in 2024 started in a good note for the pair, printing greens only, a streak that saw a closure of the 196.004 level in April 2024 ... which then catapulted price to and past the 203.00 level. - Maybe this is the repeat of that?
Long
by Kabelo_Dale
GBPJPY Ready For Takeoff! but patience Hi Traders! 📊 Pair: GBPJPY 📈 Position: LONG (BUY) ✅ Entry: 194.600 🛑 Stop Loss: 194.200 🎯 Take Profits: TP 1: 195.000 TP 2: 195.400 TP 3: 195.800 (Trailing SL to maximize gains!) 💡 Why This Setup? 🔥 Strong rejection at a key support zone, indicating a potential bullish rally! 📊 Risk-to-Reward Ratio: 1:3 – Perfect for savvy traders seeking high returns! ⚡️ Dynamic Stop-Loss Management: Lock in profits as price moves in our favor. 🔹 Discipline and calculated risk are key! 📢 What do you think? Are you in on this trade? 🚀🔥
Long
by hamidTrader21