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JAPANESE YEN / BRITISH POUND

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JPYGBP trade ideas

GBPJPY Analysis Week 50🌐Fundamental Analysis The Japanese Yen (JPY) struggled to capitalize on the previous day’s modest gains and traded in a narrow range against the US currency in early European trading on Friday. Meanwhile, the short-term bias appears to favor JPY bulls as the more dovish Bank of Japan (BoJ) remains on track to raise interest rates. The British Pound rose sharply against major currencies on Friday as Bank of England (BoE) officials signaled persistent price pressure concerns. BoE Governor Andrew Bailey also stressed that the central bank still has work to do to bring inflation below its 2% target. With no major UK economic data in the near term, market speculation that the BoE will make a rate decision at its December 19 monetary policy meeting will boost sterling’s valuation. Traders expect the BoE to keep interest rates unchanged at 4.75%. 🕯Technical Analysis GBPJPY rebounded strongly after breaking the downtrend channel. 190.300 became an important support zone in the immediate future and the price range was formed with resistance at 192.500, the highest peak of last week that the sellers accepted. That is also an important zone of the EMA 89. Pay attention to this border area of ​​the pair in the immediate future. In the further border area, when there are signs of breaking out of the narrow range, the pair can push the price up to 194.400. Because the main trend of the market is uptrend again. BUY signals will be prioritized next week when there are important breakout signs. Pay attention to the bottom area of ​​188.300 so that the pair can form a double bottom pattern and increase again. 📈📉Trading Signals BUY GBPJPY 188.400-188.200 Stoploss 188.000 SELL GBPJPY 194.400-194.600 Stoploss 194.800
by TVS-Trader
Sell GBP/JPY Channel BreakoutThe GBP/JPY pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined Channel pattern. This suggests a shift in momentum towards the downside in the coming Hours. FX:GBPJPY Key Points: Sell Entry: Consider entering a short position around close to the breakout level. This offers an entry point near the perceived shift in momentum. Target Levels: 1st Support – 188.85 2nd Support – 187.55 Your likes and comments are incredibly motivating and will encourage me to share more analysis with you. Best Regards, KABHI FOREX TRADING Thank you.
Short
by KABHI_TA_TRADING
10
GBP/JPY Bullish Reversal Setup with Inverted Head and Shoulders This 4-hour GBP/JPY chart illustrates an inverted head and shoulders pattern, a bullish reversal indicator. The left shoulder, head, and right shoulder are clearly marked, showing a potential bottoming formation. The neckline acts as resistance, with a "Buy Stop" placed just above it to confirm the breakout. A projected target of 196.318 is identified, aligning with the typical measured move from the pattern's neckline to the head. A stop-loss is set at 190.761 to manage risk in case of a reversal, ensuring a favorable risk-to-reward ratio. This setup suggests a potential upward move following a breakout above the neckline
Long
by jayshafiq2
GBPJPY - Long Supported by Fundamentals and TechnicalFundamental Analysis: Key indicators, including the LEI as well as endogenous and exogenous factors, show mixed to declining trends on a weekly basis. This points to a weakening outlook for GBP against JPY, reinforcing a bearish view on the pair Seasonality: Historically, GBPJPY tends to be bullish from the middle of the first week of December until the middle of the second week, suggesting a potential seasonal opportunity for long positions. COT Report: GBP has been at its lows for 13 and 26 weeks, while JPY remains neutral. The report highlights a buy bias for GBP and a sell bias for JPY, indicating potential opportunities favouring GBP. Additionally, flip data reveals a shift in market sentiment from bearish to bullish. Technical Analysis: GBPJPY has been in a downtrend, forming lower highs (LH) and lower lows (LL) on the 1H timeframe. Recently, it showed a bullish flag pattern, indicating a potential shift to an uptrend. The price has respected the bullish flag projection, bounced off its first rejection level, and formed a new higher low (HL). This sets up a potential long opportunity if the price breaks above the previous higher high and clears the first resistance. Conclusion: Consider going long on GBPJPY, as seasonal trends, the COT report, and technical indicators strongly favour GBP over JPY. Entry Price: 192.400 (Buy Stop) Stop Loss: 190.880 Take Profit: 193.9200
Long
by aakalu
GBPJPY NEXT MOVE (expecting a bullish move)(04-12-2024)Go through the analysis carefully, and do trade accordingly. Anup Bias (Mid term) Current price- 191.000 "if Price stay above 188.500, then next target is 192.500 and 195.00 and below that 185.000. -POSSIBILITY-1 Wait (as geopolitical situation are worsening ) -POSSIBILITY-2 Wait (as geopolitical situation are worsening) Best of luck Never risk 2% of principal to follow any position. Support us by liking and sharing the post.
by AnupZiddi
5
GBPJPY, possible outcomes?A quick outlook on GBPJPY . Potential opportunities. GBPJPY is currently trading at around 191.000 . We are looking at two possible outcomes on this pair. We are still in a downtrend on HTF (Higher Time Frames ). However if we start breaking above 191.500 we could see a reverse happening on the pair. Scenario 1: SELLS at the break of 190.400 . We broke 190.400. That would confirm sells and we could continue the downtrend and target previous lows sitting at around 188.000 flat. Scenario 2: BUYS at the break of 191.500 . We broke above 191.500 confirming the bullish flag we had on H1 and we could start reversing on GBPJPY . We would be targeting higher levels sitting at 192.500 and higher at 193.300 . Personal opition: The direction for now is unclear until we break our mentioned key levels. A safe sell trade could be taken at the break of 190.400. On the other hand a safe buy trade could be taken at the break of 191.500. We are more on the buy side at the time of writing this. Be patient and stay tuned for updates on this pair. KEY NOTES - GBPJPY is in a downtrend on HTF however it’s showing signs of a possible reverse. - Breaks above 191.500 would confirm buys. - Breaks below 190.400 would confirm the trend continuation and further sells. Happy trading! FxPocket
by FxPocket
Bullish bounce?GBP/JPY is falling towards the pivot which acts as an overlap support that lines up with the 50% Fibonacci retracement and could bounce to the pullback resistance. Pivot: 190.24 1st Support: 188.47 1st Resistance: 192.31 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
1