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JAPANESE YEN / BRITISH POUND

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JPYGBP trade ideas

GBPJPY The GBP/JPY pair has shown rejection near the strong resistance zone around 198.50-199.20. The price has formed a potential double-top pattern, indicating bearish pressure. A decline is anticipated if the price fails to break above this zone, targeting key support levels below. Signal: Trade Type: Sell Entry Point: Below 198.00 Take Profit Targets: TP1: 196.66 TP2: 196.28 TP3: 195.63 Stop Loss: Above 198.50 This setup aligns with the bearish momentum. Secure profits as targets are achieved. 📉
by FOREXQUEEN_1
2
GBP/JPY Approaches December HighGBP/JPY approaches the December high (198.96) as stages a three-day rally. GBP/JPY Outlook GBP/JPY trades to a fresh monthly high (198.26) as it carves a series of higher highs and lows, with a breach above the December high (198.96) bringing the October high (199.81) on the radar. Need a break/close above the 199.80 (61.8% Fibonacci extension) to 200.50 (78.6% Fibonacci extension) zone to bring the 202.00 (23.6% Fibonacci extension) to 202.40 (50% Fibonacci extension) area on the radar, but GBP/JPY may track the flattening slope in the 50-Day SMA (195.45) should it struggle to extend the bullish price series. Failure to test the December high (198.96) may push GBP/JPY back towards the 195.70 (61.8% Fibonacci extension) to 196.60 (23.6% Fibonacci extension) region, with a break/close below the 192.40 (50% Fibonacci extension) to 193.50 (38.2% Fibonacci extension) area opening up 189.00 (38.2% Fibonacci extension). --- Written by David Song, Strategist at FOREX.com
by FOREXcom
GBPJPY after the sell progression last weekThis GBPJPY chart is analyzed using Elliott Wave Theory on the 1-hour timeframe. The chart highlights the progression of waves, with distinct impulse and corrective structures marked. A completed corrective wave (labelled as wave 2) precedes a bullish impulsive move (wave 3), which aligns with Fibonacci extensions for target projections. Key levels, such as the 0.5 and 1.618 Fibonacci retracements/extensions, are used to validate the wave counts and potential reversal points. The market's bullish momentum is evident as price rises from the 195.87 level, completing smaller subwaves within wave 3. The chart also includes annotations showing precise wave counts (i, ii, iii, etc.), supporting the detailed wave progression. Additional indicators, such as predictive ranges and smart money concepts, help identify resistance at 199.53 and support near 195.87. This analysis suggests further bullish potential while cautioning about resistance levels near wave targets.
Long
by FalconFXsavv1y
GBPJPY TO PUSH PAST 200.00Q3 of 2024 saw the pair tumbling from the high 208.117, thanks to the July sellers, with the help various factors listed below: 1. Economic Data Releases: Poor economic indicators from the UK, such as weak GDP growth, rising inflation, or disappointing employment figures, negatively impact the pound. 2. Monetary Policy Decisions: If the Bank of England signaled to reduce the rate by 0.25 percentage points after MPC voted by a majority of 5-4. 3. Market Sentiment: Shifts in global market sentiment, including concerns about geopolitical tensions in the Israel/Pakistan on the other hand the ongoing tension between Ukraine and Russia. Adding the economic slowdowns, led investors to favor the yen, a traditional safe-haven currency. 4. Brexit Developments: Ongoing negotiations or issues related to Brexit may have continued to affect the pound's performance. Enough with the fundamentals 🤦‍♂️ Now the fun part, price action and technicals - After all that storm caused by fundametals we were just talking about... price found support at the 191.852 level with strong rejections - Then a resistance formed at the 196.004 level. A resistance that price closed during December to mark a good end to the 2024 year? Maybe. Just a few wicks to break for price to push all the way to 203.00. - Talking about 203.00, in 2024 started in a good note for the pair, printing greens only, a streak that saw a closure of the 196.004 level in April 2024 ... which then catapulted price to and past the 203.00 level. - Maybe this is the repeat of that?
Long
by Kabelo_Dale
GBPJPY ANALYSIS IS READY MOVE TO FLYThis chart shows an analysis of the GBP/JPY currency pair on a 4-hour time frame using Heikin Ashi candlesticks. The key points of the analysis are: 1. Support Zone: The black horizontal line indicates a strong support level around 197.90. Price has previously respected this level, and it is expected to serve as a base for an upward move. 2. Cup and Handle Pattern: The red curved outline suggests the formation of a potential "Cup and Handle" pattern, a bullish continuation setup. The price seems to have completed the "cup" phase and could now be moving towards the breakout phase. 3. Breakout Scenario: If the price breaks above the current consolidation level, it could trigger a bullish rally. The blue arrows represent possible price trajectories toward higher levels. 4. Target Zones (TP1, TP2, TP3): TP1: Around the 200.000 level, which could act as the first profit-taking zone. TP2: Around the 202.000 level, marking a secondary target for traders. TP3: Around 204.000, the highest target zone for this analysis. 5. Bullish Outlook: The chart implies a potential bullish movement, with the price targeting higher zones if it breaks above the resistance level. Traders should watch for confirmation of the breakout and consider stop-loss levels below the support zone to manage risk.
Short
by Forex_Vip_Signals
GBPJPY is Holding above the Support , All Eyes on BuyingHello Traders In This Chart GBPJPY HOURLY Forex Forecast By FOREX PLANET today GBPJPY analysis 👆 🟢This Chart includes_ (GBPJPY market update) 🟢What is The Next Opportunity on GBPJPY Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
Long
by ForexMasters2000