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JAPANESE YEN / BRITISH POUND

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JPYGBP trade ideas

GBPJPY Trendline Breakout , All eyes on sellingHello 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
GBP/JPY bearish reversal likely after distribution (H1)1. Wyckoff Methodology: Distribution Phase PSY (Preliminary Supply): The chart starts with a bullish trend around 188.000, indicating strong buying demand. However, the PSY suggests that large traders are starting to take profits. BC (Buying Climax): The BC is a significant high around 192.303. This price level represents the peak of buying pressure, where sellers are expected to step in. AR (Automatic Reaction): Following the climax, the price retraces, forming an AR, marking the start of distribution as supply begins to overwhelm demand. ST (Secondary Test): Around 191.600, the price retests the high, failing to break it, confirming the ST in the distribution phase. UT (Upthrust): Around 193.000, the price makes another attempt to break higher but fails, leading to another retracement. UTAD (Upthrust After Distribution): This occurs at the peak, a fake-out above the prior highs, signaling the final effort by the composite operator to distribute positions before a price reversal. Current Location: The chart shows that the pair is in the Phase B of distribution, with the UTAD being completed. This signifies that the large distribution has ended, and a potential downtrend is imminent as we approach Phase C. 2. Elliott Wave Analysis The wave structure follows the classical 5-wave pattern within the corrective phases. Wave 1: The chart starts with an upward impulse, pushing into the Buying Climax around 192.300. Wave 2: After the BC, a corrective wave retraces to around 190.000 (an automatic reaction from Wyckoff). Wave 3: The next upward movement to 193.000 represents a strong impulsive wave, which typically is the longest and most aggressive. Wave 4: This corrective wave retraces to around 190.500, but holds support just above the 0.618 Fib retracement. Wave 5: The final push-up shows the climax and completes around 192.800, forming the UTAD from Wyckoff. Current Elliott Wave Stage: The chart is likely entering an ABC correction, starting from the UTAD, indicating a large retracement to follow. 3. Harmonic Patterns and Fibonacci Levels Fibonacci Retracement Zones: 0.786 at 192.131 serves as a major resistance level, aligning with the Wyckoff AR distribution resistance. 0.618 at 191.194 is a key support level, below which prices could fall deeper into a corrective wave. 0.5 (190.537): An important halfway retracement support zone, which coincides with the weekly close levels, and is likely where the price will stall temporarily. ABC Correction Forecast: Wave A is expected to drop to around the 0.618 Fib level (191.194). Wave B will likely bounce from this support, aiming to test the 0.786 retracement at 192.131. Wave C would then follow, breaking down to a deeper support level around the 0.5 retracement at 190.537. 4. SMC and ICT Concepts (Liquidity and Smart Money Involvement) Liquidity Zones: The Wyckoff phases and Fibonacci levels clearly indicate liquidity being built up around these zones. The UTAD marks a liquidity grab, where smart money is attempting to trick retail traders into believing a breakout will occur. The major support level at 190.537 is a likely target where large orders will accumulate again, leading to future reversals. ICT Mitigation Zones: The chart shows potential mitigation zones where institutional orders were likely placed between 192.131 and 191.194. Price will likely react heavily to these areas due to prior order imbalances. 5. Forecast and Future Outlook Bearish Reversal Expected: The completion of the UTAD phase in Wyckoff combined with the completion of Wave 5 in Elliott suggests a bearish reversal is highly likely. Price will target lower Fibonacci retracement zones, potentially testing 190.537 and even deeper if the downtrend extends. Invalidation Points: Any bullish break above 193.532 would invalidate the current bearish outlook and indicate further upside momentum. Conversely, a break below 187.422 confirms a larger downtrend is in motion. Risk/Reward Evaluation Stop Placement: The stop is set at 193.532 (just above the Wyckoff UTAD), with a risk/reward ratio of 20.71, indicating a highly favorable reward for this trade setup. Targets: Target 1: 191.194 (Fib 0.618). Target 2: 190.537 (Fib 0.5). Target 3: 187.422 for deeper corrections aligning with Wave C. Conclusion The chart represents a highly complex setup incorporating Wyckoff distribution, Elliott Wave theory, Fibonacci retracements, and SMC/ICT concepts. Based on this, the market is expected to enter a bearish corrective phase, targeting key Fibonacci levels and liquidity zones around 191.194 and 190.537, before potentially resuming upward movement.
Short
by spacedevil
3
A strong daily rejectionGBPJPY forecast… We have a retracement to the daily fair value gap, from this data it is gathered that this daily area is quite a significant rejection level because when we shift to this current timeframe, we acknowledge that the bullish channel is slightly invalidated. The bullish viability has been decreased, the bias is now bearish. I would love to see price break below the swing low between levels 191.500 and 191.00 for further confirmation. Should we get the clearance, then we’ll have displacement which will lead us to a bearish entry after the flip to our point of interest which happens to be the liquidity pool at 192.500. This potential bearish trade is an anticipated 1:5, a stop loss of 100 pips to a target of 500 pips at 187.500. The plan is to move our stop to break even and partial out when price drops below 191.000 in profit, then we shall be in a risk free trade…
by tokelohomi
2
GBP/JPY LONG MOVEEntry: 192.175 Tp 1: 198.432 Tp 2: 205.696 Tp 3: 208.194 We can see a double bottom that price has formed on the daily and 4hr. As you may know the bigger the timeframe the outcome . We can see GBP/JPY clear direction. Notice this pair is also making a W pattern. We will place our entry at the neckline of the w which is 192.175 and set a take profit to the previous HH (Higher high). Be aware to use proper risk management and leverage for this trade will be held for 2-3 weeks.. Follow me @CEEJAYYTRADES Profits!!!
Long
by CEEJAYYTRADES
GBP/JPY LONG MOVEEntry: 192.175 Tp 1: 198.432 Tp 2: 205.696 Tp 3: 208.194 We can see a double bottom that price has formed on the daily and 4hr. As you may know the bigger the timeframe the outcome . We can see GBP/JPY clear direction. Notice this pair is also making a W pattern. We will place our entry at the neckline of the w which is 192.175 and set a take profit to the previous HH (Higher high). Be aware to use proper risk management and leverage for this trade will be held for 2-3 weeks.. Follow me @CEEJAYYTRADES Profits!!!
Long
by CEEJAYYTRADES
GBPJPY is in the DOOWNTRENDHello 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
Short
by ForexMasters2000
GBPJPY: UPTREND TRADE IDEAGBPJPY (LONG) Timeframe = H4 Trend = Bullish ENTRY: 193.00 > 193.10 Bullish Targets:- TP1: 193.40 TP2: 195.45 TP3: 198.00 TP4: 204.00 Details:- Markets are undecided whether the Bank of England will hold, or cut rates by 25bps on Thursday, raising the potential for GBP volatility which has put the FX options market on high alert. The FX volatility upon which FX options thrive is an unknown, yet key parameter of their premium, so dealers use implied volatility - their best guess. Disparity between implied and realized over the life of the option is a common occurrence and makes FX volatility a tradable asset. Therefore, any implied volatility increase over a key event like the BoE, is also a bellwether for the wider market to see the additional FX volatility that options traders think that event will generate. GBPJPY had good volume and moved well from last 2 days. Exactly on the way as predicted. It will hit a strong resistance level around 193.40 to 195.50. Bearish Target:- 191.0 190.0 Disclaimer: Please be advised that the information presented on TradingView to be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the author cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information provided.
Long
by Intelli_ag
1
Trade Recaps: EURUSD-LONG, GBPJPY-LONG, 23/09/2024EURUSD Bias Analysis: Daily displacement higher out of order block and OTE, with the 4H trending higher presented an optimal alignment entry which aligned with the 1H range for the day. After an impulsive protraction into 1H EPD which was within a 4H OB & 1H FVG, entry confirmation was received and a long position was executed. GBPJPY Bias Analysis: The daily pulled back aggressively into EPD and with a 4H bullish trend prevailing, The market presented a resistance setup which aligned with the 1H range. Also protracting impulsively, price pulled back into confluent 4H & 1H FVG's which were within 1H EPD, meeting trade parameters which led to a long execution once entry confirmation was received. Grade: EURUSD: High Probability GBPJPY: Valid What I did well or could've done better: - Stuck to the plan and executed positions, despite impulsive price action into my entry region. - My take profit order on MetaTrader did not align with how I had frame my position on TradingView. While this led to closing out a larger profit than anticipated (this time), in future, this could lead to TP orders not being filled and walking away with less profit than anticipated.
Long
by The_Modern_Day_Trader