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GBP/JPY (OANDA EU Clients)

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GBPJPY.PRO.OTMS trade ideas

GBPJPY → Buyers increase positions to break 195.5 ↑FX:GBPJPY continues to climb purposefully towards 195.5, forming a consolidation in the form of an ascending triangle. The goal of this maneuver is to break the resistance with further continuation of the upward movement... The bulls are trying to keep the defense above the key support at 193.5. The change of the fundamental background for JPY strengthens the sales of the national currency, which favorably affects, in our case, GBP. As a consequence, the market starts testing 195.5 with the aim of a breakout. GDP in UK remained at the same level of 0.2%. There is important news ahead - PPI. Based on the previous economic data, we can assume that PPI will also support the dollar, which will negatively affect the JPY. On the background of this influence, the bulls will be able to overcome the key resistance. Support levels: 193.5, 191.7, 190.0 Resistance levels: 195.5 The acutal situation on the chart is directed towards the continuation of the movement. The market structure is changing, the fundamental background is on the side of the buyer. We are waiting for the breakthrough of the key resistance (trigger) and the continuation of growth... Rate, share your opinion and questions, let's discuss what's going on with ★ FX:GBPJPY ;) Regards R. Linda!
Long
by RLinda
8
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
GBP/JPY Market Analysis for Sunday Night OpenThe GBP/JPY chart shows a recent downtrend followed by a recovery as the price approaches a key resistance zone around 197.90 - 198.00. We can observe some consolidation and a potential reversal pattern, with the price creating higher lows, suggesting possible bullish momentum. Resistance Zone (197.90 - 198.00): This area has acted as strong resistance recently, and a clear break above could signal continued bullish momentum. If the price breaks and holds above this level, we could see a rally toward higher resistance around 198.20 - 198.50. Support Levels: Immediate support is around 197.50, and if the price fails to break above resistance, we may see a pullback toward this level. A breakdown below this support could lead the price to test the lower zones at 197.20 and 197.00. Potential Price Action Scenarios: Bullish Scenario: A breakout above 198.00 would confirm a bullish continuation, aiming for 198.20 - 198.50. Bearish Scenario: If sellers take control and the price falls below 197.50, we may see a retest of support levels near 197.20 - 197.00. Indicators: The MACD is currently positive, showing signs of bullish momentum, but it's essential to watch for any divergence or a possible crossover, which might signal a weakening in buying pressure. Summary: For the open, I’ll be watching how the price reacts around the 197.90 - 198.00 resistance zone. A strong breakout would favor long positions, while rejection around this area or a break below 197.50 could open opportunities for shorts targeting the lower support levels.
Long
by AEL_Education
GBPJPY top-down analysis it is a bullish move but!!!!Major Perspective is on an upward movement So from the 1M first is on an upward movement and is that the major reversal to a point 179.335 then head back up. So, I also from the weekly time frame that I saw that is might probably have a liquidation sweep and head back down to 170.000 area But probably still go up then come down but I just really feel to be a liquidation sweep from the 4 hours we saw that it has gone to a level around an order block and probably come down and from the 1 hour it's making a downward movement kind of!!!!, it is looking juicy for a day trading.
Long
by JoshZedFX
GBPJPY Trading IdeaBased on Simple Technical Analysis ( Trendline + Support & Resistance ) Risk Disclaimer: Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are for educational purposes only. Any action you take on the information in this analysis is strictly at your own risk. There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Good luck :-)
Short
by ShahedZare
GBPJPY, a rebound play is in order.GBPJPY, a fave of traders who value volatility recently corrected significantly to 181 range from the highs of 183. Recent 4H metrics suggests a close fight between bull and bears -- with bulls having a slight edge now from the current range. A new base may have been formed already at this price range with notable net buying activity registered this past couple of days. The pair is currently bouncing off a 0.5 FIB level, a major order block support. Expect some attempt to reverse to the upside in the next coming days. Spotted at 181.30 TAYOR. Safeguard funds always.
Long
by JSAL
3
GBPJPY Is Going Down! Short! Here is our detailed technical review for GBPJPY. Time Frame: 1D Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is approaching a key horizontal level 197.624. Considering the today's price action, probabilities will be high to see a movement to 191.203. P.S Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback. Like and subscribe and comment my ideas if you enjoy them!
Short
by SignalProvider
1
GBP_JPN (110 Pips)Technical Analysis: Triple Resistance Test Failure Pattern Overview A significant bearish signal has emerged with the triple resistance test failure, followed by a key reversal pattern at a high pivot point. This formation suggests increased selling pressure and potential trend reversal. Key Technical Elements 1. Triple Resistance Test - Price made three distinct attempts to break above resistance level - Each attempt showed progressively weaker buying momentum - Final rejection demonstrates strong selling pressure at this level 2. High Pivot Point Formation - Created at the peak of the third resistance test - Represents a critical turning point in market sentiment - Historical significance as a major price level 3. Bearish Engulfing Pattern - Large bearish candle completely engulfing previous bullish candle - Occurred at a crucial technical level (High Pivot Point) - Significant volume accompanied the pattern, validating its importance Technical Implications - The failure of three consecutive attempts to break resistance indicates strong overhead supply - The bearish engulfing pattern at the pivot point suggests a potential trend reversal - Expect increased selling pressure in the near term - Previous resistance level now likely to act as strong resistance for future attempts Risk Management Considerations - Short positions should consider placing stops above the high pivot point - Long positions should exercise caution and potentially reduce exposure - Volume analysis crucial for confirming strength of the reversal Conclusion The combination of a triple resistance failure and bearish engulfing pattern at a high pivot point presents a compelling case for bearish sentiment. Traders should monitor volume and price action closely for confirmation of the reversal signal.
Short
by NYHTSTAR
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Long
by Thief_Trader