British Pound / Japanese Yen forum
GBPJPY it might range for a while with its fake breakouts, but in the bigger picture its still bearish. Looking forward to short it target: 190
GBPJPY no red candle for last 3 hrs on 30 mins chart
GBPJPY don't be too happy about it, overall trend is still in the down trend
GBPJPY that is a real breakout I've been waiting for
GBPJPY Fake break outs
GBPJPY finally a bullish breakout
GBPJPY with all these trapped buyers and sellers, gonna be a big move high (predicted) or low by end of week.GBPJPY consolidates in a range on Tuesday amid mixed fundamental cues.GBPJPY No investor this market
GBPJPY 📊 GBPJPY 24th December 2024 Daily Analysis Based on Main Key Levels
In today’s analysis, we will focus on the current state of the GBPJPY market, emphasizing critical price levels and potential trading opportunities.
📍 Daily Current Market Price (DCMP)
The current market price for GBPJPY is 196.733. This serves as a crucial reference point for assessing trading opportunities.
📉 Key Levels
🛑 Resistance (Above DCMP)
Resistance 1: 198.423
Resistance 2: 199.673
Resistance 3: 201.697
✅ Support (Below DCMP)
Support 1: 196.399
Support 2: 194.375
Support 3: 193.125
📉 Swing Levels
Swing High: 199.564
Swing Low: 194.072
Summary of Analysis
The GBPJPY market is currently positioned at 196.733. Key resistance levels above this price are 198.423, 199.673, and 201.697. The support levels below this price are 196.399, 194.375, and 193.125. The swing high is at 199.564, and the swing low is at 194.072.
Suggested Trades
💼 Intraday Buy Trade
Entry Price: ✨ 196.399
Stop Loss: ❌ 196.200
Take Profit 1: 🎯 196.800
Take Profit 2: 🎯 197.090
📌 Reason for Entry
The price is approaching a key support level at 196.399, indicating a favorable buying opportunity based on technical analysis.
💼 Intraday Sell Trade
Entry Price: ✨ 198.423
Stop Loss: ❌ 198.600
Take Profit 1: 🎯 198.000
Take Profit 2: 🎯 199.673
📌 Reason for Entry
Resistance at 198.423 suggests a potential selling opportunity, with targets set below this level.
💡 Conclusion
This analysis provides a concise overview of key levels and trade opportunities for GBPJPY. By monitoring these levels, traders can make informed decisions in the current market environment. Stay tuned for more insights and happy trading!