GBPJPYPlan followed - saw a large engulfing bullish candle on the 1hr - took a buy, but during asian session i didn't want to pay extra for my swaps overnight - took profit - woke up at day break 00:00 but its 4am here in Dubai - Brought in again , got wick out, got in again Longby cassiuskemeticUpdated 0
GBPJPY TRADE UPDATEgbpjpy both entries hit our tp check my earlier analysis entry 1 - 165 pips entry 2 - 123 pipsLongby KaizenOnCharts0
GBPJPY FOREX 7/30/2024GBP/JPY Update: Weekend Analysis: The GBP/JPY trade has progressed according to our expectations. The impulse moves are aligning perfectly with the anticipated patterns following the accumulation phase. Current Status: We are now in Leg 3 of the current structure. The market has been behaving as predicted, and we are approaching our target levels. Action Plan: We are closely monitoring for optimal take-profit opportunities. Next Steps: Continue to watch for potential price action signals and consider adjusting stops or scaling out positions as we approach the target. SHOW SUPPORT BOST COMMENT! Longby spacedevil2
GBPJPY bullish indications GBPJPY is showing bullish sign, RSI is showing bullish divergence.Longby nasirkarime2
GBPJPYFibonacci S3 191.36 S2 194.32 S1 196.15 PP 199.11 R1 202.07 R2 203.90 R3 206.86by TradeCapitalsMV2
GBPJPY🇬🇧🇯🇵 #GBPJPY Analysis 🕓 Time Frame: 4-hour Chart/Close 🔽 Status: Bearish 📆 30/07/2024 Current Market Situation: GBPJPY is poised to continue its bearish trend. The price has temporarily halted around the 197.00 zone, taking a short respite before potentially falling further. The market is anticipating an interest rate hike in Japan, which adds to the bearish sentiment. Key Observations: Market Structure: The price has broken the bullish market structure and confirmed a bearish one, indicating a shift in the global trend. Rising Volatility: Japanese markets are experiencing increased volatility with the Bank of Japan expected to discuss a rate hike this week and consider a plan to halve government bond purchases. Trader Behavior: Traders are reducing their short positions on the yen, signaling confidence in the yen's strengthening. Technical Outlook: Key Level: The focus is on the 197.2 level, which divides the market into two zones. Price consolidation below this level could signal the start of a further bearish rally. Resistance Levels: 197.2 198.75 Support Levels: 195.8 193.8 191.8 Conclusion : Both fundamentally and technically, indicators point towards a further decline in GBPJPY. The actions of the Bank of Japan, particularly the potential rate hike and reduction in government bond purchases, are likely to have a significant impact on the currency pair.Shortby BearKingdomTrading1111
GBPJPY LONGI believe GBPJPY is creating a H&S pattern on the daily time frame. I am expecting the next move up to be the final creation of the right shoulder. My target zone is the 50% retracement from the big move down on the Fib tool. There is JPY news this week so this may be the catalyst that moves the pair to the upside temporarily. Longby BlackSheepFinancial1
Are we going to see a long sell or a longbuy i'm predicting that price will move up to the trendline and from there we can have two possible scenarios, the first being price could break the trendline and we could have a long buy to the nearest resistance at least and the second being price could bounce from the trendline and we could see a long sell coming in to the next support, we can't really tell what price will do so right now we just have to be patient and see what's going to happen in the next few hoursby teganmosi0
Short Idea on GBPJPY Based on Fibonacci(prophetic style) SELL stop orders at 197.204 stop loss at 198.857 target at 196.016, 195.282 and 194.094Shortby ChessCryptoUpdated 4
GBP/JPY Analysis: Strong Reversal and Bearish Setup OpportunityThe GBP/JPY continues its strong reversal from yesterday after reaching the 208.000 area, where a strong weekly supply zone has been present since July 2008. This significant resistance level has prompted the price to retrace. According to the latest Commitment of Traders (COT) report, retail traders and non-commercial participants are still holding long positions, while commercial traders have shifted their positions to bearish over a month ago. This divergence between retail and commercial traders suggests a potential shift in market sentiment. We are looking to capitalize on this reversal by setting up a bearish trade. Monitoring key levels and market conditions closely will be essential in executing this strategy effectively. As the price begins to retrace, identifying optimal entry points for a short position will be crucial in taking advantage of this bearish setup. ✅ Please share your thoughts about GBP/JPY in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.Shortby FOREXN1Updated 1113
GBP/JPY May Correct Upwards#trading_idea 💡 💸Pay Attention to #GBPJPY! On the 4H chart, we might see the formation of a Double Bottom pattern. The price is trading close to the MA(20), while the Stochastic indicates a potential continuation of the upward correction. The Bank of Japan is still keeping the market uncertain about tightening monetary policy. Without intervention, the yen cannot continue to strengthen. 🔼 If the price goes above key level 197.743, a rise towards resistance 198.643 or 199.840 is possible. 🔽Overwise the price may slide to support at 196.860 or 195.963. ✔️ Click "👍" if you think the price will rise and "👎" if you think it will slide.Longby sabiotrade5
GBPJPY Important LevelsHello Dear Traders, - Important Levels On the Chart "Horizontal Lines" Based on Gann Square of 9 Works as Support/Resistance. Watch for Price action around those levels - Jinny Gann Grid - Vertical lines works as time lines. Expect Reversal around them. Next Near Resistance:200 Near Support : 199.09 - 198.12 Wish you Best of luckby Magic_xDUpdated 7713
long GBPJPYmy first entry is in 50 pips currently and all stops moved to entry just entered my second entry according to my earlier gbpjpy analysis. disclaimer: your trading decisions and their outcomes are your responsibility alone. Trade safely and wisely!Longby KaizenOnCharts0
long GBPJPYSupply Zone Identified: The pink highlighted area at the top of the chart represents a supply zone. This is where sellers have shown dominance in the past, and we expect potential selling pressure to emerge again. Demand Zone Identified: The blue highlighted area at the bottom represents a demand zone. This is where buyers have previously shown interest, and we anticipate potential buying pressure to resurface. Price Action: The price has recently dropped from the supply zone and is approaching the demand zone. This presents a potential trading opportunity. Volume Analysis: The volume bars at the bottom show increased activity during significant price movements, supporting the importance of these zones. Potential Scenarios: a) If price reaches the demand zone and shows signs of reversal, it could present a buying opportunity with a target near the supply zone. b) If price breaks through the demand zone, it might indicate further downside potential. c) Any rally back to the supply zone could offer a selling opportunity if rejection patterns form. Risk Management: The gray box near the demand zone could serve as a stop loss area for long positions, while the upper edge of the supply zone could act as a stop for short positions. Remember: Always use proper risk management and confirm entries with additional technical analysis or indicators before trading.Longby KaizenOnCharts4
GBPJPY27.07.24 | GBPJPY | Intraday Short Term Setup | Buy at Market 197.30 SL 197.05 TP 197.80 Status Active GBPJPY is in the oversold region and it is showing some pullback back to enjoy this ride you can take a trade of 45-55 pips as TP Longby Trading-AxleUpdated 1
Correction According to the behavior of the price in the current resistance range, possible scenarios have been identified. It is expected that the continuation of the correction process will take place Shortby STPFOREX1
buy idea on GBPJPYBased on Fibonacci (prophetic lol) FIRST TARGET @199.70 SECOND TARGET @201.735 STOP LOSS @196.28Longby ChessCryptoUpdated 7
GBPJPYAfter back testing, iv seen theres a move each day break, so i set my alarm to wake up, wait for my plan to align then enter. i am grateful for the profit but i should of got in earlier and out earlier. TP set and hit Sl always set plan followed 1/2 trades taken daily price can continue to break down to recent wicked daily support or continue bullish to daily resistance 40 / 50 pip daily target Shortby cassiuskemeticUpdated 0
GBPJPY 29.7 - XGJ looks like it mitigated the buy zone on a Daily time frame, after a strong drop in price. Now we know that naturally price makes Impulse and then correction or as I call it Sprint and Recovery if the price action is healthy. I will look for buys on GJ as I would like to see price make a correction all the way up.Longby Tilen_FX21
GBPJPYThis Weekly FORECAST Opportunity for GBPJPY. This setup trading idea is for intraday. >> TAYOR Risk Factors: 1. Market conditions, unexpected news, or external events could impact the trade. 2. Always use risk management strategies to protect your capital.Shortby TREND-TITAN0
GBPJPY FOREX 1H TIME FRAME DATE 7/28/2024Sentiment Analysis – July 27, 2024 Intra-Day Sentiment: 33% Bearish, 67% Bullish Daily Sentiment: 18% Bearish, 82% Bullish Overall Sentiment: Favorable to Buy Economic Calendar and Trading Recommendations Monday, July 29, 2024 10:30 AM (GB): Mortgage Approvals Forecast: 63.50 Thousand Trade Recommendation: Sell GBPJPY 12:00 PM (GB): CBI Distributive Trades Retail Sales MoM Forecast: 0.40% Trade Recommendation: Sell GBPJPY Tuesday, July 30, 2024 01:30 AM (JP): Unemployment Rate Forecast: 2.70% Trade Recommendation: Sell GBPJPY Wednesday, July 31, 2024 01:50 AM (JP): Retail Sales YoY Forecast: 1.50% Trade Recommendation: Sell GBPJPY 06:00 AM (JP): BoJ Interest Rate Decision Forecast: 0.25% Trade Recommendation: Buy GBPJPY 07:00 AM (JP): Consumer Confidence Forecast: 35.00 points Trade Recommendation: Sell GBPJPY Thursday, August 01, 2024 02:30 AM (JP): Jibun Bank Manufacturing PMI Forecast: 51.50 points Trade Recommendation: Buy GBPJPY 08:00 AM (GB): Nationwide Housing Prices MoM Previous: +0.4%, Forecast: 0.1% decline Trade Recommendation: Buy GBPJPY 10:30 AM (GB): S&P Global Manufacturing PMI Final Forecast: 51.90 points Trade Recommendation: Buy GBPJPY 01:00 PM (GB): BoE Interest Rate Decision Forecast: 5.00% Trade Recommendation: Buy GBPJPY Summary: Despite short-term bearish signals and mixed economic indicators, the prevailing sentiment and key economic releases indicate a bullish outlook for GBPJPY. The primary trading strategy should emphasize buying GBPJPY, supported by favorable macroeconomic data and sentiment.Longby spacedevil2