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JAPANESE YEN / BRITISH POUND

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JPYGBP trade ideas

GBPJPY Elliott Wave Outlook: Impulse Pattern Approaching EndThe short-term Elliott Wave analysis for GBPJPY indicates that the cycle initiated from the April 9, 2025 low has reached a mature stage. The upward movement is unfolding as a five-wave impulse structure, a hallmark of Elliott Wave theory, signaling a strong bullish trend. Wave 1 concluded at 189.82, followed by a corrective pullback in Wave 2, which found support at 185.98. The subsequent rally in Wave 3, as depicted on the 1-hour chart, peaked at 196.84. Wave 4 then unfolded as a zigzag corrective structure. Its internal subdivisions completing as follows: Wave ((a)) declined to 194.75, and wave ((b)) rebounded to 195.33. Wave ((c)) finalized at 196, marking the completion of Wave 4 in the higher degree. Currently, GBPJPY has resumed its ascent in Wave 5. From the Wave 4 low, the rally has so far developed in three waves. Wave (i) reached 196.7, followed by a dip in Wave (ii) to 196.09. Wave (iii) extended higher to 198.19. A corrective pullback in Wave (iv) is anticipated to find support within the 196.2–196.8 range, likely in a three-wave structure. Afterwards, one final push higher in Wave (v) should happen to complete Wave ((i)) of 5 in the higher degree. Following this, a larger-degree correction in Wave ((ii)) is expected to retrace the cycle from the June 19, 2025 low. Pullback is likely unfolding in a 3, 7, or 11-swing pattern before the pair resumes its upward trajectory.
by Elliottwave-Forecast
GBP/JPY Revisits 198.08All the way back in 2008, around the Financial Collapse, GBP/JPY posted a massive gap on the monthly chart and here we are, more than 16 years later, and that space on the chart continues to loom large. The August 2008 close at 198.08 led into the September open at 193.61, and over the past couple of weeks those prices have played a big role in GBP/JPY price action, much as they have since last March when that zone finally came back into play when the gap was finally filled in April of last year. Last week GBP/JPY had set up an ascending triangle formation, with resistance around the 196.50 area and a progression of higher-lows since April and through May and early-June. Bulls defended 193.61 on a pullback last week, and came back with a vengeance to drive a breakout into this week with that 198.08 level coming back into the picture to set the current highs. If looking for Yen-weakness, I remain of the mind that this could be a more attractive venue than USD/JPY, further illustrated by the sizable pullback showing in the major pair today compared to the move in GBP/JPY. - js
by FOREXcom
#GBPJPY: UPDATED VIEW 24/10/2024 **GBPJPY UPDATED VIEW BASED ON PREVIOUS ANALYSIS** Dear Traders, I hope you are doing well. Based on our previous analysis of GBPJPY, we identified two potential selling opportunities within the market. However, the bullish sentiment in the DXY currency pair has had a significant impact on JPY, causing it to fall short of its full value within the daily timeframe. As of today, we have observed a potential exhaustion of DXY’s bullish momentum, with four-hour candles indicating a strong bearish pressure. This development presents an opportunity for JPY to rebound, potentially allowing us to secure substantial profits within the market. Now, let’s focus on the GBPJPY currency pair. The price has extended its bullish trend, although there is a possibility of a reversal from its current position. We recommend implementing appropriate stop-loss orders for any sell entries taken from the current market price. If the initial entry fails, we are confident that the price is likely to reverse from our second entry. Before making any decisions based on this analysis, it is essential to conduct your own research. This analysis is solely for educational purposes and should not be considered financial advice. We appreciate your feedback and support. If you find our work valuable, please consider liking and commenting on our ideas. Additionally, following us will provide us with encouragement and motivation. Best regards, Team SetupsFX_
Short
by Setupsfx_
20
GBPJPY Double Play – Short from Channel Top into Key Buy ZoneCurrently in a short position from the top of the ascending channel (197.600s area), where price tapped into confluence: • Rising wedge upper trendline • Key Fibonacci zone (between -27% and 61.8%) • Extended bullish move with clear signs of exhaustion Trade Plan – Phase 1 (Sell): I’m targeting the red box zone as marked on the chart, which aligns with prior structure support around 194.80–194.60, and also sits in a strong Fibonacci pocket (around the 61.8% retracement of the most recent impulse leg). • Entry (Sell): ~197.600 • TP (Sell): 194.800 • SL: Above 197.750 (wick high) ⸻ Trade Plan – Phase 2 (Buy): Once price taps into the red box, I’ll flip bias to long for a bullish continuation trade. This zone has acted as demand multiple times and aligns with: • Lower trendline support • Fib confluence zone • Institutional-style stop hunt structure Looking for a clean bullish signal (engulfing, pin bar, or strong volume reaction) before entering the buy. Expecting price to return to 196.3–197+ on the rebound. • Buy Limit Zone: 194.800–194.600 • SL: Below 194.200 • TP: 196.300–197.000+
by Cedrick
#GBPJPY: Buyers and Sellers Both Has Equal Chances! Hey there! So, GBPJPY is at a pivotal moment, and we might see a mix of buying and selling activity in the market. Since the bulls aren’t exactly sure what to do next, here’s what we think: - The GBPJPY pair is having a tough time breaking through the 194 region. The Japanese yen (JPY) is holding steady, making it hard to predict what will happen next. This has made trading JPY pairs a real challenge. - Looking back at how prices have behaved in similar situations can give us some clues about what might happen in the future. But it’s important to do thorough research before we start trading. Just because something happened in the past doesn’t mean it will happen again. - The Japanese yen (JPY) also tends to go down when the US dollar (USD) goes up. Since we’re bullish on the DXY index in the coming days, we think the JPY will probably take a hit, and it could go down a lot. It’s also worth keeping an eye on the GBP, which has been one of the most popular currencies since the market opened earlier today. - In the meantime, we suggest setting two take-profit targets: one at 197 and another at 199. These levels are likely to see a lot of selling activity. Now, let’s talk about what sellers should do: - The price is currently in favour of sellers since it dropped from 195.50 to 193.50. And since the last two daily candles closed with strong bearish volume, it looks like the price is going to keep going down. - If the price breaks below 190.50, that would be a great opportunity for sellers to make some money. Good luck and trade safely! Thank you for your unwavering support! 😊 If you’d like to contribute, here are a few ways you can help us: - Like our ideas - Comment on our ideas - Share our ideas Team Setupsfx_ ❤️🚀
by Setupsfx_
24
#GBPJPY: 600+ Pips Swing Move, JPY To Drop! GBPJPY has successfully rejected the area previously identified in our analysis of GJ. We had anticipated a price rejection and reversal with a strong bullish impulse, which has materialised. Following the positive candle close on Friday, we anticipate a continuation of the bullish trend and potential reaching of the 200 mark. When trading, it is crucial to prioritise risk management. Conduct your own analysis and utilise this information solely for educational purposes. Three potential targets have been identified: 198, 200, and 202. A stop loss can be positioned below our buying zone, as indicated by the black-marked zone. Your support, expressed through likes, comments, and shares, is greatly appreciated and encourages us to continue providing valuable content. ❤️🚀 Team Setupsfx_
Long
by Setupsfx_
34
GBP/JPY GBP/JPY has reached a significant level of interest at the 196.260 area on the daily timeframe. From this point, price action could develop in one of two key scenarios: 1) Bullish Continuation: If price breaks above the 196.260 level, confirming continued bullish momentum, I would look for a potential long entry on a successful retest of this zone. 2) Bearish Reversal: Alternatively, if price rejects this key level, I will wait for confirmation of a reversal—such as the formation of lower lows and lower highs, supported by classic reversal patterns like a head and shoulders or double top, alongside a trendline break—before considering a short position. I will continue to monitor GBP/JPY closely over the coming sessions to assess how price reacts at this critical area.
by BuerdsellFX
1