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GBPJPY trade ideas

Bullish bounce off pullback support?GBP/JPY is falling towards the pivot which is a pullback support and could bounce to the 1st resistance which acts as a pullback resistance. Pivot: 192.76 1st Support: 190.79 1st Resistance: 194.69 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
GBPJPY LONG IDEATrading Idea: GBPJPY Long Rationale: You've identified a potential long (buy) opportunity based on the 50% Fibonacci retracement level on the 4-hour (4H) time frame. This indicates a possible pullback within an uptrend, with the 50% level acting as support. Entry: Enter the trade at 192.892. Stop Loss (SL): Place your stop loss at 192.302. This limits your potential loss if the trade moves against you. Take Profit (TP): Set your take profit at 195.095. This is your target price where you will exit the trade with a profit. Timeframe: 4 hour (4H) Key Consideration: Fibonacci retracements are tools, not guarantees. Price action, and other technical or fundamental factors should be considered before entering the trade. Simplified Explanation: You're looking to buy GBPJPY because it has pulled back to a key level (50% Fibonacci) on a medium-term chart. You'll buy at 192.892, and if it goes down to 192.302, you'll automatically exit the trade to limit losses. If it goes up to 195.095, you'll take your profit.
Long
by BKGTrader35
GJ - BUYBias: Bullish Market Structure Analysis: The GBP/JPY pair shows a strong bullish trend across all timeframes. On the 4-hour chart, price has established a series of higher lows and higher highs since late February. The recent price action shows a decisive breakout above the 194.00 resistance level, which is now likely to act as support. The 1-hour and 15-minute charts confirm this bullish momentum with price holding above key moving averages. Setup: A pullback entry after the recent breakout offers a favorable risk-reward ratio. The 194.00 level should now act as support following the breakout, creating an opportunity for a continuation trade. Entry: 194.10 (Limit Order) Place a limit order slightly above the previous resistance (now support) at 194.00, anticipating a minor pullback before continuation. Stop Loss: 193.75 Placing the stop below the recent support zone keeps risk contained within 35 pips. Take Profit (TP1): 194.80 First target at the recent high, offering a solid risk-reward ratio of approximately 2:1. Extended Take Profit (TP2): 195.50 Secondary target at the psychological level of 195.50, which would represent a continuation of the bullish trend. Order Type: Limit Order Wait for a pullback to 194.10 for entry rather than chasing the current price. Alternative Scenario: If price drops below 193.50 without triggering the entry, wait for a potential retest of the 193.00 support level before considering a new long position. The bullish bias would be invalidated if price breaks below the 192.00 level, which represents a key structural support on the 4-hour chart.
Long
by ShlomoYahbes
2
GBPJPY: Market Sentiment & Forecast Remember that we can not, and should not impose our will on the market but rather listen to its whims and make profit by following it. And thus shall be done today on the GBPJPY pair which is likely to be pushed down by the bears so we will sell! Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis. ❤️ Please, support our work with like & comment! ❤️
Short
by UnitedSignals
1
GBP/JPY SELL ZONE .....My GBP/JPY sell zone suggests a bearish outlook with downside targets at 192.480, 191.500, and 190.720, while maintaining a stop loss at 194.600. Key Levels & Analysis: Resistance (Stop Loss): 194.600 – If price breaks above this, the bearish setup is invalidated. Support Levels (Targets): 192.480: First support, minor retracement level. 191.500: Stronger support, potential reaction zone. 190.720: Major support, likely to see profit-taking or reversal signs. Technical Indicators to Watch: 1. Moving Averages: If GBP/JPY is trading below the 50-day and 200-day moving averages, it strengthens the bearish case. 2. RSI (Relative Strength Index): If RSI is below 50 and trending toward 30, it signals bearish momentum. 3. MACD (Moving Average Convergence Divergence): A bearish crossover below the signal line adds confidence to the downtrend. 4. Trendline & Fibonacci Analysis: Check for a trendline break or a Fib retracement level supporting the sell-off. Trading Strategy: If price rejects resistance at 194.600, it confirms bearish sentiment. A break below 192.480 could accelerate selling pressure toward 191.500 and beyond. Monitor Bank of Japan & Bank of England news, risk sentiment (stocks, bonds, yen strength) for additional confirmation.
Short
by Algo_Trading_Mql5