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British Pound / Japanese Yen

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GBPJPY trade ideas

GBPJPY TARGET 198.OOHere's a summary of your updated GBP/JPY trade plan: Trade Plan - Entry Point: 196.300 (current) - Target: 198.000 - Stop-Loss: 195.200 Market Analysis The GBP/JPY is experiencing a bullish trend, driven by a strengthening British pound and a weakening Japanese yen. Technical Analysis - RSI Indicator: The Relative Strength Index (RSI) is above 50, indicating a bullish momentum. - Moving Averages: The 50-day moving average is trending upwards, supporting the bullish view. - Support Levels: The support levels at 195.200 and 194.500 could provide a buying opportunity in case of a pullback. Risk Management - Risk-Reward Ratio: Your risk-reward ratio is approximately 1:2.9, which is relatively conservative. - Position Sizing: Make sure to adjust your position size according to your risk tolerance and account size. Trade Progress You're currently 170 pips away from your target. Keep monitoring the market and adjust your strategy as needed. Stay disciplined and stick to your trade plan. Good luck!
Long
by Geroge_Fx
GBP/JPY Analysis – Structure and Potential ScenarioOn this chart, we observe an interesting price dynamic on GBP/JPY, marked by key levels and liquidity zones. Here’s a breakdown of my analysis: Key Zones and Structure Supply and Demand Zones: The blue zones represent historical supply and demand areas where buyers and sellers have shown strong interest. These levels will be crucial to watch for potential reactions. Fibonacci Levels: The 61.8% retracement has been reached, a key area where reversals often occur. A possible extension towards higher levels is expected if the current structure holds. Support and Resistance: The green lines highlight the most relevant support and resistance levels in this market context. Anticipated Scenario 📈 Bullish Scenario: If the price holds above the marked support, a bounce is expected, with a potential breakout toward higher resistance zones. A close above the key level (grey zone) could trigger a significant bullish continuation. 📉 Bearish Scenario: A clean break below the support zones would likely lead to further downside pressure, potentially targeting lower Fibonacci levels. Plan of Action I am closely monitoring: A bullish confirmation with clear signals on lower timeframes. Rejections or significant candlesticks around the blue zones. Reminder: This analysis is based on probabilities and does not constitute financial advice. Always manage your risk!
Long
by AEL_Education
2
GBP/JPY Sell Idea - Daily Chart AnalysisThe GBP/JPY pair is showing signs of bearish pressure after reaching a strong resistance zone near 199.037, which aligns with the upper boundary of the rising channel. Price rejection in this area suggests a potential reversal toward the downside. Fundamental Outlook: The Japanese Yen is gaining support due to safe-haven flows as global market uncertainty increases. On the other hand, the British Pound faces headwinds due to recent mixed economic data and concerns over the Bank of England's cautious stance on future rate hikes. This divergence in sentiment strengthens the bearish case for GBP/JPY. Trade Details: Entry: Near the resistance zone (199.037) Stop Loss: Above 202.522 to account for any false breakouts Take Profit: Targeting the support zone around 184.000, aligned with previous demand This trade idea combines technical rejection at resistance and fundamental factors favoring Yen strength. Risk management is critical to mitigate potential volatility.
Short
by DreamsForx
2
GBPJPY #GJgpbjpy idea using elliot wave and fib retracement so we will be trading a small retracement then continue with the wave As of December 30, 2024, the GBP/JPY currency pair is exhibiting a bullish trend, according to Elliott Wave analysis. The short-term Elliott Wave sequence from the low on August 5, 2024, indicates a bullish progression, suggesting the potential for further appreciation. ActionForex In this context, the rally from the August 5 low appears to be unfolding as an impulsive wave, characterized by five distinct sub-waves moving in the direction of the prevailing trend. This pattern typically signifies a strong and sustained upward movement. It's important to note that Elliott Wave analysis is inherently interpretative and can vary among analysts. Therefore, it's advisable to consider multiple perspectives and incorporate other technical and fundamental analyses when making trading decisions.
Short
by FalconFXsavv1y
7
GBP/JPY H1 | Potential bullish bounceGBP/JPY is falling towards an overlap support and could potentially bounce off this level to climb higher. Buy entry is at 197.87 which is an overlap support. Stop loss is at 197.09 which is a level that lies underneath a pullback support and the 50.0% Fibonacci retracement level. Take profit is at 198.81 which is a swing-high resistance. 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 (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.
Long
by FXCM