GJ Bull for the weekGBPJPY looks to go bull for this week for a pullback. Look out for a breakout on the m5 before entering
GBPJPY trade ideas
GJ sells onlyGJ is perfectly downtrending.
Sells only on this as clear downtrend. Small lots of sells each high!
GBPJPY Mid-term Bull Run is about to startThe area where GBPJPY is being traded has the highest volume ever traded since the beginning of 2024. Also, the reverse trendline is also giving a bullish signal. In addition, the Japanese Yen Futures current traded area is also the highest volume traded since the beginning of 2024, which means if it is retesting this area then we can expect the growth in XXXJPY pairs. Watch out for an upward trend from the market opening. I expect to take a long position until 197.500 or 200.000.
GBPJPY likely to continue to respect the trendlinethe trendline has been intact for almost 3 months and in that period two out of three times when it touched the trendline we can see a bullish divergence circled ones and it respected the bullish divergence last time quite well and now again the price is right at the trendline which is also acting as support with bullish divergence and overall the trend is also bullish so these couple of confluences support upward direction of price
GBPJPY is in the Down TrendHello Traders
In This Chart GBPJPY HOURLY Forex Forecast By FOREX PLANET
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GBPJPY - Short + Medium term direction predictionTrend is clearly down on medium to short term timeframes.
The proposed primary target is close by sitting at roughly 189.565.
This would make a decent short term target as there will be plenty of stop losses sitting below that structure level so I would not be surprised to see an aggressive movement toward this level and even further toward the proposed secondary target marked, between which the 189 level sits.
I would like to clarify that I dont trade with extended targets like the secondary and tertiary ones marked. This might be handy for people who leave runners on their trades.
Also keep in mind that I am only providing potential target levels here. The best thing to do would be to drop down to lower timeframes and look for good areas of value to enter.
GBPJPY The GBP/JPY pair tells the trader how many Japanese Yen (the quote currency) are needed to purchase one British Pound (the base currency). It is known to be a “carry currency cross”, that is a cross which is a vehicle for carry trading (one of today's most popular trading strategies). A carry trade happens when a person sells or borrows an asset with a low-interest rate in order to purchase another asset with a higher interest rate, looking to profit from the underlying interest rate difference. This strategy is heavily used in the foreign exchange market (forex).Bank of England (BoE), known to be one of the most effective central banks in the world. It acts as the government's bank and the lender of last resort. It issues currency and, most importantly, it oversees monetary policy (including interest rates). Andrew Bailey became the new Governor of the Bank of England on March 16th, 2020. Her Majesty the Queen has approved the appointment. He is widely and deeply respected for his leadership managing the financial crisis, developing the new regulatory frameworks, and supporting financial innovation to better serve UK households and businesses.
gbp/jpy analysisOn the daily timeframe, the chart has reached the trendline. However, the approach has been gradual, and there are no signs of bullish entry in this area. Therefore, a trendline break is expected, with the price moving toward the 187.097 level, followed by a pullback below the trendline (around 190.7) and a continuation of the downtrend toward the 180.035 level. At this point, buyers are likely to step in, potentially driving the price up to 192.441.
GBPJPY daily/montly liqOn the chart with monthly candles, a liquidity grab can be seen at the last higher low (HL). On the daily timeframe, you can observe that there has already been a break of structure and a test of a fair value gap (FVG). Therefore, the expectation is for further decline. For this, I will conduct an analysis on a smaller timeframe.
GBPJPY IS PRINTING BULLISH BAT PATTERNTechnically:
GBPJPY is printing bullish bat pattern
GBPJPY is printing bullish divergence at PRZ
Bearish on GJ for the week 12/1 Weekly Outlook
Overall bearish for the month. Well at least until some of this ssl is swept
This week I'm looking for a pull back to take out some BSL or fill an imbalance (1H FVG Inside of 1 hr Breaker) to be used to sell down to 189.565.
Once price gets to this weekly fvg I want to see if it breaks below to continue down towards that monthly ssl.
Keep in mind this week is the week for accumulation for next weeks manipulation and the following weeks distribution for the month. So this week could potentially go bullish and consolidate.
THOUGHTS ON GBP/JPYGBP/JPY 4H - As you can see price traded into a large area of Demand here on the 4H timeframes, I believe this may encourage price to correct itself on the higher timeframes and being trading bullish.
In order for me to look to take this market long and be confident with the trade I am placing I want to see price break structure to the upside initially as this would confirm to me that price is no longer trading us bearish and is in fact trading us bullish.
The high I have marked out represents the last protected high within the bearish structure that is trading us lower, breaking that would give us the confirmation we need in order to take part in some long opportunities.
That high is considered the last protected as thats the high that traded price down and into the Demand zone, creating the lowest low within this bearish leg, I will be looking to take profit just below the Supply Zone above.
GbpjpyGbpjpy target it had bearish cycle target 174 so list the targets :-
1- 188.96
2- 186.40
3- 183.81
4- 181.23
5- 176.18
6- 173.65
GBPJPY: risk-reward ratio favoring a 130-pip down moveGBPJPY remains in a strong downtrend but is approaching daily support levels, making caution essential. The risk-to-reward ratio favors a downside move between 191.75 and 192.63. If the price turns lower from these levels, a retest of the low 190.46 would be a reasonable expectation. However, a push above 192.63 could signal the start of a reversal.
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GJ's Next Move?I haven't posted on here in a while, been busy with my group.
GBPJPY has been moving pretty smooth lately. After giving us that last sell move this past week it broke and retested my zone indicating sells but it also appears to be forming an inverted head and shoulders. I'm thinking we're going to get a buy move back up retesting the zone it initially sold from and then sell continuations.
Let me know in the comments what you think it"ll do next week.
GBP/JPY Weekly Analysis My prognosis for GBP/JPY for the upcoming week.
Bearish
Here's why:
We've moved off a weekly FVG after having a weekly MSS. There are REL's below where my 'weekly target' line is. We have the liquidity to drive to those areas, the only area of bullish behaviour is the weekly FVG located right about the REL's. Be cautious once we mitigate these areas.
GBP-JPY Growth Ahead! Buy!
Hello,Traders!
GBP-JPY keeps falling
Down in a downtrend
And the pair is locally
Oversold so after it
Retests the horizontal
Support level of 189.549
We will be expecting a
Local bullish correction
Buy!
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GBPJPYGBPJPY
The potential sell scenario for the pair next week:
The pair is to be monitored as it approaches the designated sell zones on the chart.
GBP/JPY BULLS ARE GAINING STRENGTH|LONG
Hello, Friends!
Previous week’s red candle means that for us the GBP/JPY pair is in the downtrend. And the current movement leg was also down but the support line will be hit soon and lower BB band proximity will signal an oversold condition so we will go for a counter-trend long trade with the target being at 195.238.
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GBP_JPY LONG FROM SUPPORT|
✅GBP_JPY is going down now
But a strong support level is ahead at 189.608
Thus I am expecting a rebound
And a move up towards the target at 191.159
LONG🚀
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Short trade
4Hr TF Entry
Sellside trade
6.00 am
LND to NY Session AM
Entry: Thu 28th Nov 24
Entry 192.418
Profit level 192.418 (1.22%)
Stop level 192.606 (0.10%)
RR 12.56
Reason: Observation of price action on the 4hr TF seemed to suggest a downward trajectory...?
GBPJPY Buy OpportunityThere is an opportunity to long GBPJPY based on bullish divergence & trend line support. But Stop order can be placed with SL & TP at mentioned levels
GBPJPY Sell? GBPJPY consolidating after an initial drop during the Asian session. Looking like a drop-base-drop.
From the consolidated area we can see price respecting a bearish trend line and fibonacci golden zone. Looking for sells if a bearish candle closes below the key level around 190.415 zone.
Set up invalid if bearish trend line is broken. Good luck!
