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British Pound / Japanese Yen

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GBPJPY trade ideas

New Pair under my belt, GBPJPY! Let's see how this goes.. I have been closely monitoring GBP/JPY, currently trading around 188.775. The pair has been hovering near resistance, and multiple technical indicators suggest momentum is weakening. My focus is on institutional absorption near 188.75–189.00, where price has struggled to break higher. Examining price action, I see rejection wicks forming near resistance, confirming potential sell-side control. MACD divergence on the hourly timeframe indicates slowing momentum, and RSI is hovering around 54.69, reflecting a neutral stance rather than strong bullish continuation. ADX at 18.83 suggests the trend is weak, meaning price could be consolidating before a directional move. Support sits near 187.50–188.00, where price has previously shown demand. If institutions absorb sell orders here, a long position toward 189.00 may develop. However, if price fails to hold above 188.75, a short trade targeting 187.50 aligns with institutional rejection patterns. With volume showing signs of clustering near resistance, the probability of a pullback is increasing. At this point, I am watching how price reacts near key liquidity zones. If sellers continue defending 188.75, I will wait for bearish confirmation before executing a short trade. Alternatively, if price holds above 188.50 with bullish volume, I will reassess my bias for a potential breakout toward 189.50. Managing risk effectively and waiting for clear signals will be the key to executing the best trade setup.
Short
by Sel_Ali
LOOKING TO TAKE THIS MARKET LONGGBP/JPY 1H - I am looking to take this market long as well, I am expecting weakness in the dollar this week and this market backs my thoughts based on the fundamentals. We have seen that price has come to trade back into this area of Demand and in doing so has provided us with the potential means to get involved with some long trades. In order for me to take part in this market long though I want to get involved with a refined entry, I have gone ahead and set an alert just above zone price has traded into recently and one above the zone lower. I want to see price either correct itself fractally now, trading down to clear the FVG or lower down and into the large Demand Zone I have marked out for us. I will update you all when I have something.
Long
by Lukegforex
GBPJPY is coming out of consolidation... With the decline of the dollar, the Japanese yen is gaining momentum and strengthening. GBPJPY currency pair is under pressure from sellers. The price is coming out of the triangle down, the continuation of the main downward movement is possible when the support at 188.23 is broken. Scenario: Consolidation below the triangle support and subsequent break of 188.234 support may attract new sellers, which may cause a fall to 187.46 - 186.59.
Short
by AndeWave
9
Why I Think GBPJPY May Continue to Sell...Technical AnalysisHey Rich Friends, I think GBPJPY will continue to sell today and maybe this week. This is only a technical analysis so check the news and cross-reference your charts/indicators. Here is what I am looking at: - The market has already rejected the daily high of 188.852, which is a strong sign that it can continue to move down. - The 4-hour low was broken, and sellers are picking up momentum on lower time frames. - The stochastic is facing down, the slow line (orange) is above the fast line (blue), and both lines have crossed below 50 Sell stops are recommended. I will use previous lows as TPs and previous highs as stop losses. Good luck if you decide to take this trade. Let me know how it goes in the comments. Peace and Profits, Cha
Short
by MoneyMantraCha
6
GBP/JPY: Bearish Bias Pushes Price Toward Key Support LevelOver the last three trading weeks, the GBP/JPY pair has depreciated by more than 3%, establishing a firm bearish bias in favor of the yen in the short term. This perspective has remained intact primarily due to growing expectations of a more dovish monetary policy from the Bank of England, which left its interest rate unchanged at 4.5% in its latest meeting. Markets now anticipate a 25 basis point rate cut at the upcoming May 8 meeting, potentially bringing the rate down to 4.25%. This expectation is supported by the fact that inflation in the UK currently stands at 2.6%, close to the central bank’s 2% target, further justifying the possibility of additional rate cuts in the short term. Lower interest rates in the UK reduce the appeal of GBP-denominated assets, which in turn can drive selling pressure on the pound. Safe-Haven Demand for the Yen It is also important to note that the Japanese yen is historically seen as a safe-haven currency, due to its relative stability compared to other major currencies. As the global tariff conflict intensifies and economic growth prospects weaken, demand for the yen is likely to increase further in the short term. This dynamic could lead to continued downside pressure on GBP/JPY. Broad Sideways Channel Still Intact Since August 2024, GBP/JPY has traded within a well-defined sideways channel, with resistance around 198.676 and support near 186.932. Recent bearish moves have not been strong enough to break below this key support, suggesting that this lateral formation remains the dominant structure for upcoming sessions. Indicators Show Growing Neutrality: MACD: The MACD histogram is currently sitting around the neutral 0 line, indicating that the average momentum of recent moving averages remains in balance, with no dominant force in either direction. RSI: A similar situation is seen in the RSI, which is hovering near the neutral 50 zone. This reflects a constant balance between buying and selling pressure. Together, these indicators suggest persistent neutrality, likely due to the strong support zone that the price is currently testing. Key Levels to Watch: 190.14: A near-term resistance level, aligned with the Ichimoku cloud barrier. A bounce toward this level could reactivate short-term bullish momentum. 192.493: A significant resistance, located at the convergence of the 100- and 200-period moving averages. A return to this area could reinforce the validity of the sideways channel still visible on the chart. 186.93: Key support level, located at the lower boundary of the broad sideways range. Bearish moves that manage to break below this level could mark the beginning of a much more significant downtrend in the upcoming sessions. Written by Julian Pineda, CFA – Market Analyst
by FOREXcom
Am I receiving inaccurate data on my charts? On April 9, 2025, I conducted a chart analysis and drew a vertical line labeled WLQ (Weekly Liquidity). The following week, I observed what appeared to be a wick touching the WLQ line. I initially blamed myself for being careless and possibly overlooking this detail. However, I was fairly confident that I hadn’t made such an error. A day or two later, upon revisiting the chart, I noticed that the wick was no longer visible and that the line was placed accurately, just as I had originally drawn it. This inconsistency was quite surprising, so I took a screenshot as evidence. Given this experience, I’m beginning to question whether I'm receiving inaccurate or inconsistent data on my charts. Has anyone else encountered something similar, or could there be another explanation for this?
Education
by Michael_ict_jr
1
GBPJPY Poised for Breakout: Bullish Reversal from Key Support The GBP/JPY pair is exhibiting range-bound behavior with a neutral intraday bias. The price action is oscillating between key support and resistance levels, indicating a lack of decisive momentum in either direction The overall sentiment remains cautiously bullish, with traders eyeing the key resistance at 190.00. The recent price action suggests building momentum, but confirmation through a breakout is essential before committing to long positions. In summary, the GBP/JPY pair is at a critical juncture. The alignment of technical indicators and market structures supports the potential for a bullish continuation, but traders should await confirmation through a break above key resistance levels As always, we’ll stay reactive and follow price action confirmation and update the VIP members timely. No chasing — just smart, structured trades. Let’s stay patient and ready. Stick to the plan, Forex Mind Empire
Long
by Forex_Mind_Empire