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JAPANESE YEN / BRITISH POUND

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JPYGBP trade ideas

GBP/JPY Pulls Back Ahead of January High GBP/JPY pulls back ahead of the January high (198.26) to halt a five-day rally, with the recent weakness in the exchange rate keeping the Relative Strength Index (RSI) below 70. Lack of momentum to push above the 195.70 (61.8% Fibonacci extension) to 196.60 (23.6% Fibonacci extension) region may push GBP/JPY towards the weekly low (193.39), with a break/close below the 192.40 (50% Fibonacci extension) to 193.50 (38.2% Fibonacci extension) zone bringing the monthly low (190.33) on the radar. At the same time, a break/close above the 195.70 (61.8% Fibonacci extension) to 196.60 (23.6% Fibonacci extension) region may lead to a test of the January high (198.26), with the next area of interest coming in around the December high (198.96). --- Written by David Song, Senior Strategist at FOREX.com
by FOREXcom
GBPJPY Trade Update: New Month, New Momentum?As we flip the calendar into a new month, our GBPJPY swing trade has shown solid progress—reaching 193.030, just over halfway to our final target at 195.170. Originally entered at 188.813, this move has delivered over 400 pips so far, validating the analysis behind the setup. In this phase of the trade, it’s less about jumping to adjust and more about staying focused on trade management and letting the market reveal its next intention. Price is approaching a key zone of interest where momentum often stalls or accelerates, and we’re watching closely for signs of strength—or hesitation. Key insights from this phase of the trade: The power of planning your exit with as much precision as your entry. How end-of-month and new-month flows can trigger volatility. When to lock in partial profits and when to stay patient. With strong bullish structure still intact, the GBPJPY pair is giving us every reason to stay in the trade, eyes on the 195.170 target. Would you hold or secure the bag here? Let me know how you’d play it from this point forward. 📺 Full breakdown and next steps now in the video!
Long
by TLTurnerTV
GBP/JPY Fibo ResistanceGBP/JPY has been on a run with more than 1,000 pips gained on the pair from the April 9th low around the 185.00 handle. There's been a few different clean setups, as well, such as the ascending triangle when the 190.00 level was holding as resistance, and then support. The BoJ rate decision helped to prod JPY weakness and then there's been widespread continuation of risk-on so far to start this week. There's also some important context for the bullish continuation theme given this week's early rally... The long-term gap from back in 2008 continues to carry weight and we saw that last week as the bottom of that gap at 193.61 held as resistance. The top of that gap sits at 198.08 and this was resistance when it was last in-play on January 7th. At this point there's also Fibonacci resistance at 195.66 coming in to hold the highs, and this sets the stage for a higher-low at either 195.00 or 193.61. A show of support there opens the door for bullish continuation, and the top of that gap would be an ideal area for resistance to show at or around 198.08. Also of interest is a shorter-term Fibonacci level at 197.41 which is confluent with the psychological level of 197.50. - js
by FOREXcom