GBP JPYGBP JPY is making head and shoulder pattern. A short position can be considered at the CMP with SL above right shoulder.
GBPJPY trade ideas
uptrendIt is expected that the triangle pattern will end according to the specified path and we will witness the beginning of the upward trend. If the price crosses the 38.2% level, the correction wave will continue
Target 197.80 for GBPJPY YOYeah, it might not go directly there of course and it’s a minimum target so I will probably go further up I guess but we put our sell trades at that target with a small stop loss stop in reverse works even better on this prayer during this time of session
GBPJPY showing signs of a potential DUMPRecent price action shows a consistent lower high formation, suggesting that the bulls are losing momentum
The next significant support comes in around 195.800 and a Further downside targets could push GBPJPY towards 195.000
Stay informed about any fundamental updates that could trigger sharp volatility, but based on the current setup, a bearish outlook on GBPJPY looks promising
Long trade
Pair GBPJYP
Fri 3rd Jan 24
3.00 pm
NY to Tokyo Session PM
Entry 195.492
Profit level 197.034 (0.79%)
Stop level 194.834 (0.34%)
RR 2.34
Reason: Observing price action since Friday 3rd January 2025 we decided to enter a buyside trade based on the narrative of supply and demand.
GBPJPYBritish pounds remains on upward bet, the pair will keep upswing until we update the supply roof where we look for sell opportunity
GBP/JPYTechnical Analysis: GBP/JPY
This is just a personal opinion.
Be sure to check before entering.
Attention!!!
In these analyses, only technical analysis is considered
So be sure to check the basic news before entering.
Attention!!!
If the trading symbol of the bank is closed, do not trade that symbol!!
Attention!!!
100% does not exist in financial markets
So don't enter this signal hoping for a definite profit
GBP/JPY Approaches December HighGBP/JPY approaches the December high (198.96) as stages a three-day rally.
GBP/JPY Outlook
GBP/JPY trades to a fresh monthly high (198.26) as it carves a series of higher highs and lows, with a breach above the December high (198.96) bringing the October high (199.81) on the radar.
Need a break/close above the 199.80 (61.8% Fibonacci extension) to 200.50 (78.6% Fibonacci extension) zone to bring the 202.00 (23.6% Fibonacci extension) to 202.40 (50% Fibonacci extension) area on the radar, but GBP/JPY may track the flattening slope in the 50-Day SMA (195.45) should it struggle to extend the bullish price series.
Failure to test the December high (198.96) may push GBP/JPY back towards the 195.70 (61.8% Fibonacci extension) to 196.60 (23.6% Fibonacci extension) region, with a break/close below the 192.40 (50% Fibonacci extension) to 193.50 (38.2% Fibonacci extension) area opening up 189.00 (38.2% Fibonacci extension).
--- Written by David Song, Strategist at FOREX.com
GBPJPY after the sell progression last weekThis GBPJPY chart is analyzed using Elliott Wave Theory on the 1-hour timeframe. The chart highlights the progression of waves, with distinct impulse and corrective structures marked. A completed corrective wave (labelled as wave 2) precedes a bullish impulsive move (wave 3), which aligns with Fibonacci extensions for target projections. Key levels, such as the 0.5 and 1.618 Fibonacci retracements/extensions, are used to validate the wave counts and potential reversal points.
The market's bullish momentum is evident as price rises from the 195.87 level, completing smaller subwaves within wave 3. The chart also includes annotations showing precise wave counts (i, ii, iii, etc.), supporting the detailed wave progression. Additional indicators, such as predictive ranges and smart money concepts, help identify resistance at 199.53 and support near 195.87.
This analysis suggests further bullish potential while cautioning about resistance levels near wave targets.
GBP JPYCheck out my idea on GBP JPY. I hope for a sell after mitigating that Order block right there
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?
GBPJPY-SHORT-1HR/15MINOnce liquidity hunt,next FVG area is entry point, STOPLOSS external BSL & TARGET PROFIT external SSL.
GBPJPY ANALYSIS IS READY MOVE TO FLYThis chart shows an analysis of the GBP/JPY currency pair on a 4-hour time frame using Heikin Ashi candlesticks. The key points of the analysis are:
1. Support Zone: The black horizontal line indicates a strong support level around 197.90. Price has previously respected this level, and it is expected to serve as a base for an upward move.
2. Cup and Handle Pattern: The red curved outline suggests the formation of a potential "Cup and Handle" pattern, a bullish continuation setup. The price seems to have completed the "cup" phase and could now be moving towards the breakout phase.
3. Breakout Scenario:
If the price breaks above the current consolidation level, it could trigger a bullish rally.
The blue arrows represent possible price trajectories toward higher levels.
4. Target Zones (TP1, TP2, TP3):
TP1: Around the 200.000 level, which could act as the first profit-taking zone.
TP2: Around the 202.000 level, marking a secondary target for traders.
TP3: Around 204.000, the highest target zone for this analysis.
5. Bullish Outlook: The chart implies a potential bullish movement, with the price targeting higher zones if it breaks above the resistance level.
Traders should watch for confirmation of the breakout and consider stop-loss levels below the support zone to manage risk.
nice looking trade on GJa liq sweep before taping into the OB below. still expecting a break above that target for trend continuation.
POSSIBLE BUY OPPORTUNITY ON GBPJPYPrice showing signs of strong momentum. We look for the pullback to take the trade.
GBPJPY SELL PROJECTION GBPJPY moves ahead of eurjpy but slightly desame and I expect price to go short because of the breakout from the trendline and second touch on the trendline
check the trendConsidering the price behavior in the resistance zone, possible scenarios have been identified. As long as the price above the resistance level is not stable, the downtrend is likely to continue
GBPJPY is Holding above the Support , All Eyes on BuyingHello 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
GJ LongGJ failed to retest and drop at the point of contest, slowing the downward momentum. After recovery, returned to the point of contest and wicked the zone, rejecting it towards the upper.
GBPJPY Trade Idea 2The last 2 weeks(19th to now.
We had gains come back down.
In the Monthly tf, it became a wick.
Either way, I got my weekly/Daily take profit levels.
On the 4HR, I'm looking for entry levels to sell( I will still need further break of structure to the downside.
On the 1HR, I'm looking to take some buys to my daily target level of 197.526 or my 4HR target level of 196.060. BUT first I I would need further break of structure to the upside.
To increase my Win rate I have to stick to my rules.
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? 🚀🔥
GBPJPY: JPY Continues to Be Weak Despite BOJ Threatening...GBPJPY: JPY Continues to Be Weak Despite BOJ Threatening Forex Intervention
In recent weeks, the BOJ reported an increase in inflation data and subsequently threatened a possible Forex intervention. However, the market did not take these comments seriously, as the BOJ has a history of making such threats without follow-through.
GBPJPY broke out from its bullish pattern and is continuing to rise. There could be a pause before a larger bullish wave. The first resistance is found near 197.25, with another important area of interest near 197.90. If the bulls take full control, the price could reach the top of the structure.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
