Get started

British Pound / Japanese Yen

No trades
See on Supercharts
Overview News
Ideas
Discussions Technicals Seasonals Economic Calendar

GBPJPY trade ideas

GBYJPY Long Trade Analysis M15I entered a long position on the GBPJPY 15-minute chart, combining multiple confluences: RSI divergence and candlestick patterns. Here's the breakdown of my analysis: RSI Divergence: A bullish divergence is observed on the RSI, suggesting waning seller momentum and a potential reversal to the upside. Candlestick Wicks in Buyers' Zone: Long tail wicks are visible in the identified buyers' zone, an area where buyers previously drove the price from Point 1 to Point 2. This indicates strong demand and potential buyer activity. Hypothesis: If the buyers from Point 1 who successfully drove the price up to Point 2 are still active in this buyers' zone, they should be able to push the price upward again to the sellers' zone (Point 2 and Point 4). Target: The goal is to reach the sellers' zone, aligning with the previous resistance levels and supply area.
Long
by sweetnspicyflavor00
GBPJPY Long Continuation? Weekly Analysis • Trend & Structure: GBP/JPY remains in an ascending parallel channel on the weekly timeframe. Previously, a rising wedge pattern (May 8 – July 8) was broken, leading to the current consolidation phase. The structure remains higher high (HH) and higher low (HL), but a prior lower high (LH) has not been broken, indicating consolidation within an overall bullish trend. • SMAs: SMAs are stacked bullishly, suggesting a long-term uptrend. However, the 10 SMA is slightly below the 50 SMA, indicating a lack of immediate momentum and signaling potential consolidation. • Key Levels: • Support: Horizontal support at 170, coinciding with a bullish order block. • Resistance: Horizontal resistance at 203, with a bearish order block near 204. • Additional order block observed between 196-197. • Indicators: • RSI: At 48.78, pointing downward after rejecting off its RSI-based moving average. A trendline on RSI suggests a potential move toward 44 before resuming upward momentum. • MACD: Deep red histogram, with MACD and signal lines near zero, reflecting weak momentum. • ADX: Negative DMI (24.79) above Positive DMI (19.49), with ADX at 15.16, indicating consolidation with a bearish tilt. • ATR: Stable at 4.355, showing low market volatility. • Ichimoku Cloud: Price is inside or slightly below the cloud, indicating uncertainty and a bearish bias for now. • OBV: Decreasing trend, suggesting distribution. • Fibonacci: Price reacted off the 0.5 extension level near 195, rejecting downward after bouncing from the lower channel line at 190. Daily Analysis • Trend & Structure: Consolidation with a slight bullish tilt. The price is in a sequence of higher lows (HLs) and lower highs (LHs), currently forming a new lower high. • Key Levels: • Support: • 192.5, recently confirmed by price rejection. • 188, lower-level support. • Resistance: 200, aligning with historical resistance. • Order Blocks: • Bullish order block at 191 (aligned with the lower weekly channel). • Bearish order block at 196.5-198. • Additional bullish order block at 185. • SMAs: Price is below the 200 SMA and currently sits only above the 10 SMA, with the 50 and 100 SMAs acting as resistance. The SMAs suggest consolidation. • Indicators: • RSI: Declined from 53 to 47 but remains above its RSI-based moving average. • MACD: Bullish histogram (green), but both MACD and signal lines remain below zero. • ADX: Positive DMI slightly above Negative DMI, but ADX at 17.63 is sloping downward, indicating weak momentum. • ATR: Stable at 1.79, showing minimal volatility. • Ichimoku Cloud: Price broke below the cloud, rallied back, and rejected off it, reflecting bearish momentum. • OBV: Consolidating, no clear trend. • Fibonacci: Price rejected off the 0.5 Fibonacci extension level, aligning with the Ichimoku cloud area, and is now below the 0.382 level. 4-Hour Analysis • Trend & Structure: Price has been in a parallel ascending channel but recently broke below the lower channel line and is retesting it. The structure remains higher high and higher low but shows signs of weakening. • Key Levels: • Support: 190.3, coinciding with a bullish order block. • Resistance: 193.5, which aligns with the channel top and a bearish rejection area. • Indicators: • RSI: At 52.43, rebounding after breaking a descending trendline. • MACD: Bearish histogram (red) is waning, and MACD lines are above zero. • ADX: At 22.07, with Negative DMI above Positive DMI, suggesting a slight bearish tilt. • ATR: Stable at 0.796. • OBV: Consolidating with no clear trend. • Ichimoku Cloud: Price is finding support on the cloud after rejecting the cloud resistance during the prior rally. 2-Hour Analysis • Trend & Structure: The 2-hour chart mirrors the 4-hour ascending channel, and the price has rejected off the 200 SMA and is hovering near the lower channel line. • Key Levels: • Support: • 192, key bullish order block. • 189.7, deeper support level. • Resistance: 194.5, recent rejection area. • Indicators: • RSI: At 49.89, rebounding after hitting a low of 40.76. • MACD: Multiple prints of waning bearish momentum, with MACD and signal lines above zero. • ADX: At 20.61, with Negative DMI above Positive DMI, suggesting consolidation with a bearish tilt. • Ichimoku Cloud: Price remains above the cloud, finding support. Market Bias and Outlook Bias: Bullish consolidation. The overall trend remains bullish as the higher timeframes show an intact ascending channel structure. The recent bearish movement appears to be a liquidity grab after bullish breaks of structure. Fundamental Note: The Bank of Japan’s recent rate hike may introduce short-term bearish pressure on GBP/JPY. However, the market appears to have partially priced in the news. Unless a confirmed break of structure occurs to the downside, the primary bias remains bullish with consolidation. Key Levels and Setup • Weekly Support/Resistance: • Support: 170, 190-192 (bullish order blocks). • Resistance: 196-197, 200-204 (bearish order blocks). • Daily Support/Resistance: • Support: 188, 192.5. • Resistance: 196.5-198, 200. • 4-Hour/2-Hour Order Blocks: • Bullish: 190.3-192. • Bearish: 193.5-194.5, 196-197. Trade Plan 1. Wait for Price Action to Recover Ascending Channel: • Monitor for bullish momentum resumption on the 4-hour or 2-hour chart, such as: • RSI moving above 50. • MACD printing green momentum. • ADX showing a rising Positive DMI. 2. Entry Criteria: • Primary Entry: Retest and bounce off the lower channel line (190.5-192). • Secondary Entry: Break above 193.5, confirming bullish momentum, targeting 196.5-198. 3. Stop Loss (SL): Below 190, considering the order block. 4. Take Profit (TP): • TP1: 196.5-198. • TP2: 200-203 (weekly resistance zone). Conclusion GBP/JPY remains bullish but is consolidating. The current structure suggests a potential resumption of upward momentum after liquidity grabs at support levels. Caution is warranted due to fundamental influences from the Bank of Japan’s recent policy decisions. Monitoring key support levels and waiting for bullish confirmations will provide the most favorable risk-to-reward opportunities. Stay tuned for precise entries as momentum resumes.
Long
by EliteMarketAnalysis
1
GBPJPY - 1hr ( Buy Trade Target Range 180 PIP )☑️ Pair Name : GBP/JPY Time Frame : 1hrs Chart / Close Scale Type : Large Scale Best Break Our / Key level's 1hr Tf The GBP/JPY currency pair, analyzed on a one-hour chart with a large scale, indicates a bullish sentiment following a breakout at the key level of 192.950. This level, characterized by high trading volume, serves as a critical threshold for potential upward movement. Traders should closely monitor this area for confirmation of sustained bullish momentum. ☑Bullish After Break Out key level + High Volume / 192.950 Area
Long
by GentleGoldenEngine
3
Trading minute impulseOn the minute timeframe of GBPJPY at the moment we have the completion of the impulse formation. If the price continues to move in the direction of the impulse and the support zones do not allow it to overcome the base of the impulse, it may reach the targets 1 and 2. If the price fails to advance in the direction of the momentum and overcomes the support zone at the base of the momentum, it is very likely that the price will move sideways or against the direction of the momentum.
Long
by syomking76418
GBPJPY analysis chart "Today, I analyzed the GBP/JPY pair, i have seen its strong highs, support levels, and a Change of Character (CHOCH). Although the CHOCH indicates a precise market breakout, it's insufficient for a comprehensive analysis. To further inform my outlook, I also utilized projections to gauge the potential downward market trajectory. Target Selling 192.600 to 190.200 Target Buy 190.200 to 193.000 It's my take. What you think about "GBP/JPY", write in comment section. THANKS
by David_1_8
1
GBP/JPY Tests Resistance Zone: Breakout or Rejection?GBP/JPY Analysis: Trendline Support: The price is forming higher lows (HL), with the trendline providing strong support, maintaining a bullish structure. Resistance Zone : A key resistance zone between 197 and 199.5 has caused multiple rejections (1, 2, 3), indicating a strong supply area. Next Move: If the price retests the resistance zone and faces rejection, it may form HL5 near the trendline before another potential breakout.
Long
by unichartz
Potential Sell-off in GBPJPY On Friday, the Bank of Japan (BoJ) raised interest rates to their highest level in 17 years. After decades of deflation, Japan is now grappling with inflation, with the latest figure reaching 3.6%. From a technical perspective, a high was established on July 8, 2024. Since then, the market has been trending downward. Currently, on the 4-hour timeframe, a previous support level has failed to break and is now acting as resistance. This signals the potential for further downside movement. Good Luck 👍
Short
by momeah21
GBP/JPY Long OpportunityThe Bank of England (BoE) has maintained a hawkish stance, raising interest rates to combat inflation. In contrast, the Bank of Japan (BoJ) has kept its monetary policy accommodative, with ultra-low interest rates. This significant interest rate differential creates a strong incentive for investors to borrow Yen at low rates and invest in higher-yielding Pound-denominated assets, increasing demand for the Pound and pushing GBP/JPY higher. The BoJ's accommodative monetary policy and its efforts to weaken the Yen for export competitiveness could further fuel the rise of GBP/JPY. First Target 200 second target 213.09 Stop loss at 183.73
Long
by ChessCrypto
EUR/USD Long, GBP/USD Short, GBP/NZD Short and GBP/JPY ShortEUR/USD Long Minimum entry requirements: • 1H impulse up above area of inflection. • If tight non-structured 5 min continuation follows, reduced risk entry on the break of it. • If tight structured 5 min continuation follows, reduced risk entry on the break of it or 5 min risk entry within it. • If tight non-structured 15 min continuation follows, 5 min risk entry within it if the continuation is structured on the 5 min chart or reduced risk entry on the break of it. • If tight structured 15 min continuation follows, reduced risk entry on the break of it or 15 min risk entry within it. GBP/USD Short Minimum entry requirements: • 1H impulse down. • If tight non-structured 15 min continuation follows, 5 min risk entry within it if the continuation is structured on the 5 min chart or reduced risk entry on the break of it. • If tight structured 15 min continuation follows, reduced risk entry on the break of it or 15 min risk entry within it. GBP/NZD Short Minimum entry requirements: • 1H impulse down below area of interest. • If tight non-structured 5 min continuation follows, reduced risk entry on the break of it. • If tight structured 5 min continuation follows, reduced risk entry on the break of it or 5 min risk entry within it. • If tight non-structured 15 min continuation follows, 5 min risk entry within it if the continuation is structured on the 5 min chart or reduced risk entry on the break of it. • If tight structured 15 min continuation follows, reduced risk entry on the break of it or 15 min risk entry within it. GBP/JPY Short Minimum entry requirements: • 1H impulse down below area of interest. • If tight non-structured 15 min continuation follows, 5 min risk entry within it if the continuation is structured on the 5 min chart or reduced risk entry on the break of it. • If tight structured 15 min continuation follows, reduced risk entry on the break of it or 15 min risk entry within it.
by StewySongs