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British Pound vs Japanese Yen

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GBPJPY.P trade ideas

GBP/JPY Analysis: Shorterm BuyThe GBP/JPY pair currently shows a retracement from recent highs, and we can observe key levels of support and resistance based on Fibonacci retracement levels and trend lines. Trendline Support: A rising trendline from previous lows suggests continued bullish momentum as long as the price respects this trendline. The recent test of this trendline indicates a possible continuation to the upside if buyers maintain control. Fibonacci Retracement Levels: Key retracement levels are marked: The 23.6% retracement near 198.97 serves as the first potential resistance area. A break above this level could lead the price towards the next resistance. 38.2% (198.61) and 50% (198.33) levels provide additional zones where the price might face resistance before potentially moving higher. Key Support Levels: The 198.00 level acts as a psychological and technical support, with further support down to 197.50. If the price breaks below these support levels, it may signal a reversal or deeper correction. Potential Scenarios: Bullish Scenario: If the price respects the trendline and moves above 198.97, we might see an attempt to test the recent highs around 199.50 - 199.70. Bearish Scenario: Failure to hold above the trendline and a breakdown below 197.50 could initiate a deeper pullback, possibly targeting support levels around 196.50 or lower. Conclusion: The bias remains bullish as long as the trendline support holds. However, key resistance levels around 198.97 - 199.50 need to be watched closely, as they could signal either a breakout to new highs or a potential reversal if selling pressure intensifies.
Long
by AEL_Education
#GBPJPY 4HGBPJPY 4-Hour Analysis The GBPJPY pair is currently trading near the resistance of a triangle pattern on the 4-hour chart. This resistance level within the triangle suggests potential selling pressure, creating a setup for a possible sell position if the price is rejected at the resistance. Technical Outlook: - Pattern: Triangle Resistance - Forecast: Bearish (Sell Opportunity) - Entry Strategy: Sell near the triangle’s resistance line Traders may consider entering a sell position if the price shows signs of rejection at this resistance level, targeting lower support areas within the triangle. Confirmation from indicators like RSI showing overbought conditions or MACD signaling a bearish divergence can further validate this setup, supporting a bearish outlook for GBPJPY.
Long
by PIPSFIGHTER
GBP/JPY 144M chart with an analysis of the key levels1. Elliott Wave Analysis and Structure The chart appears to be tracking a complex Elliott Wave pattern with clear labeling of impulse and corrective waves. Wave III and IV are prominent on the chart, indicating that the current movement may be within a broader impulse wave structure, likely aiming towards completing Wave V at higher levels. Wave 1 Invalidation Level at 199.240: This level is crucial as any move below this would invalidate the current wave count, which expects price to rise in Wave V without dipping below Wave 1's territory. 2. Fibonacci Levels and Extensions Key Fibonacci Extensions: 3.618 Extension at 207.390: This is the highest extension marked, suggesting a potential overextended Wave V target. 2.618 Extension at 205.421: This level is marked for a diagonal Wave 5, providing a likely resistance level and a target for a possible reversal. 2.236 Extension at 203.952: Labeled as "Volume Divergence by Wave 5," this level indicates where volume divergence might emerge, signaling weakening momentum and a potential reversal. Retracement Levels: 0.272 (202.172) and 0.382 (201.240): These retracement levels provide support within the corrective structure of Wave IV. They mark areas where price could potentially consolidate before moving higher to complete Wave V. 0.618 (199.240): This level is noted as a critical support level. It also serves as the Wave 1 invalidation point, reinforcing its importance as a support that should hold if the bullish wave count remains valid. 3. Volume Divergence and Inducement Zones Volume Divergence by Wave 5 (at 206.888): Located near a significant Fibonacci extension, this indicates that although price may continue higher, a reduction in volume could hint at a weakening bullish momentum. Inducement Zone (2.618 at 204.375 for Wave 3): This inducement area acts as a potential target for Wave 3, where traders might look for an initial breakout or reaction as it aligns with a higher extension level. Conformation Zone at 2.236 (203.224): Marked as a confirmation area for Wave 1-5, suggesting that this could act as a validation zone for continued bullish movement if price holds above it. 4. Invalidation Levels Wave 2-B Invalidation: An invalidation level is noted around the bottom of the corrective phase, signifying that any drop below this would invalidate the expected bullish move in Wave V. Wave 4 Invalidation: The corrective Wave IV must not extend too low (below the noted retracement levels), or else the structure may shift into a deeper correction rather than maintaining the bullish outlook. 5. Strategic Price Levels Resistance Levels: 206.889: This is noted as the invalidation extension above Wave 5, marking a potential high where price might encounter resistance if this wave structure remains intact. 205.421 (Diagonal Wave 5 Target): As a common extension level, this serves as a natural target for price to complete the wave. Support Levels: 200.500 - 201.240 Range: This range includes retracement levels for Wave IV and is a key support area to maintain the bullish wave count. 199.240: Critical as the must-not-pass level for Wave 1. A breach here would invalidate the wave structure. 6. Channel and Trendline Analysis Ascending Trendline Support: An orange trendline runs diagonally, acting as a support line for the ongoing uptrend. This line aligns with retracement levels, suggesting that if price touches or respects this trendline, it could provide a buying opportunity within the context of the bullish structure. Diagonal Channel in Purple: The price movement within this channel helps in tracking the upward progress of Wave III to Wave V, with each retracement bouncing within the channel limits. 7. Projected Path and Trading Implications Primary Pathway: The chart anticipates that price will reach the 2.618 (204.375) and possibly 3.618 (207.390) extensions for Wave V. A break of these levels with volume divergence would be a signal for potential exhaustion. Wave IV Consolidation: Should Wave IV continue, traders may look to buy on dips near the 0.382 (201.240) or higher as long as the price remains above 199.240. Exit/Profit-Taking Zones: Traders may consider taking profits near 204.375 or 206.888 based on resistance levels, especially if volume divergence becomes apparent. Summary of Key Takeaways Upside Targets: The key upside targets are the 2.236 extension (203.952), 2.618 extension (205.421), and the maximum extension at 207.390. Critical Supports: Supports at 201.240 (0.382 retracement) and 199.240 (Wave 1 invalidation) are key for maintaining the bullish outlook. Volume Divergence: Potential volume divergence near the higher extensions could signal a weakening trend, marking a potential reversal or consolidation phase for GBP/JPY.
Long
by spacedevil
GBPJPY US Election Rally Buy GBPJPY @ 196.3 - 195.9💷GBPJPY💴 US Election Rally 💎Buy GBPJPY @ 196.3 - 195.9💎 Tuesday 11/05/2024 07 PM 195.1 StopLoss —> 196.35 BreakEven+ Scalp TakeProfit 1: 196.5 TakeProfit 2: 196.7 TakeProfit 3: 196.9 Daily TakeProfit 4: 197.1 TakeProfit 5: 197.3 Swing TakeProfit 10: 198.3 TakeProfit 20: 200.3 TakeProfit 30: 202.3 Position TakeProfit 50: 206.3 TakeProfit 100: 216.3 TakeProfit 200: 236.3 TakeProfit 300: 256.3 Richard Eyo ~ The Wizard 🧙‍♂️
Long
by SmartWizardFX
GBPJPY is in the Down TrendHello Traders In This Chart GBPJPY HOURLY Forex Forecast By FOREX PLANET today GBPJPY analysis 👆 🟢This Chart includes_ (GBPJPY market update) 🟢What is The Next Opportunity on GBPJPY Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
Long
by ForexMasters2000
3
GBPJPY BEARISH FOR 140PIPSEntry Point: Look for an entry around a resistance level on a 4H or daily chart. A retest of broken support could also be an ideal entry area. Stop Loss and Take Profit: Position a stop loss just above a recent swing high to minimize risk, with a profit target aligned to key support zones that give the potential for a 1,140-pip move. Trailing Stop: Since this target is large, using a trailing stop can lock in profits while allowing the trade to capitalize on prolonged trends.
Short
by LORDOFTHETRADERS
GBPJPY H1 | Bearish Drop Based on the H1 chart analysis, we can see that the price has just reacted off our sell entry at 197.38, which is an overlap resistance. Our take profit will be at 196.18, a pullback support level close to 78.6% Fibo retracement. The stop loss will be placed at 198.52, which is an overlap resistance level. 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 (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% 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, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% 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 (www.fxcm.com): 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 www.fxcm.com Stratos Global LLC (www.fxcm.com): 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
GBPJPY - Yen will continue its weakness?!The GBPJPY currency pair is above the EMA200 and EMA50 in the 4H timeframe and is moving in its medium-term bullish channel. If the upward movement continues, we can see the supply zone and sell within that zone with the appropriate risk reward. The BRC retail report in the UK indicated that retail sales in October 2024 only grew by 0.3%, a significant drop compared to the 1.7% growth in September. This decline is attributed to consumers’ caution ahead of Black Friday promotions and school half-term holidays, which were delayed compared to usual. Helen Dickinson, CEO of the British Retail Consortium (BRC), stated, “After a strong start in autumn, October sales growth was disappointing. Part of this decline was due to the later timing of school half-term holidays, which reduced sales, but it is expected that November will show better performance.” She also noted that consumer sentiment has been affected by uncertainties surrounding future budgets and rising energy costs. According to the latest Citi/YouGov survey, British households’ inflation expectations for the coming year have reached 3.3%, and long-term household inflation expectations remain at 3.8%. Analysts at Citi Investment Bank suggest that these figures indicate that despite efforts by the Bank of England to curb inflation, public inflation expectations remain high. In Japan, the government has designed a support plan for the country’s semiconductor industry that involves leveraging assets such as its shares in NTT, with the program spanning several years. Instead of direct subsidies, the plan includes a multi-stage approach. Semiconductor equipment manufacturers receive subsidies while moving towards mass production, and once they reach this stage, the government shifts to other forms of support such as private sector investments and financial guarantees, extending this process until around 2030. Sakurai, a former board member of the Bank of Japan (BoJ), announced that the central bank is likely to raise interest rates again in the coming months, with January being a potential timing for this action. The aim is to increase short-term interest rates to 1.5% or 2% by the end of Ueda’s term in early 2028.
Short
by Ali_PSND