JAPANESE YEN / BRITISH POUND forum
GBPJPY GBPJPY 27th December 2024 Daily Analysis Based on Main Key Levels
Daily Current Market Price (DCMP)
The current market price for GBPJPY is 197.528. This serves as a crucial reference point for identifying trading opportunities.
Key Levels
Resistance (Above DCMP)
Resistance 1: 198.423
Resistance 2: 199.673
Resistance 3: 201.697
Support (Below DCMP)
Support 1: 196.399
Support 2: 194.375
Swing Levels
Swing High: 199.564
Swing Low: 194.072
Summary of Analysis
As of the latest evaluation, the GBPJPY market is positioned at 197.528. Key resistance levels above this price include 198.423, 199.673, and 201.697. The support levels below this price are 196.399 and 194.375. The swing high is noted at 199.564, while the swing low is at 194.072.
Suggested Trades
Intraday Buy Trade
Entry Price: 196.399
Stop Loss: 194.375
Take Profit 1: 197.528
Take Profit 2: 198.423
Reason for Entry
The price is approaching a key support level at 196.399, indicating a favorable buying opportunity based on technical analysis.
Intraday Sell Trade
Entry Price: 198.423
Stop Loss: 199.673
Take Profit 1: 198.000
Take Profit 2: 201.697
Reason for Entry
Resistance at 198.423 suggests a potential selling opportunity, with targets set below this level.
Conclusion
This analysis provides a concise overview of key levels and trade opportunities for GBPJPY. By monitoring these levels, traders can make informed decisions in the current market environment. Stay tuned for more insights and happy trading!
GBPJPY The GBP/JPY pair tells the trader how many Japanese Yen (the quote currency) are needed to purchase one British Pound (the base currency). It is known to be a “carry currency cross”, that is a cross which is a vehicle for carry trading (one of today's most popular trading strategies). A carry trade happens when a person sells or borrows an asset with a low-interest rate in order to purchase another asset with a higher interest rate, looking to profit from the underlying interest rate difference. This strategy is heavily used in the foreign exchange market tradingview.com/x/ao7BW1H9
GBPJPY Any idea for today?
GBPJPY heading to 198.366?
Idea:#GBPJPY Buy 196.4 - 196.0
💎 #GBPJPY Buy 196.4 - 196.0 💎
Stoploss 195.2
Breakeven 196.45
TakeProfit 1: 196.6
TakeProfit 2: 196.8
TakeProfit 3: 197.0
TakeProfit 4: 197.2
TakeProfit 5: 197.4
TakeProfit 10: 198.4
TakeProfit 20: 200.4
TakeProfit 30: 202.4
Trade at your own risk
Protect your capital
The Wizard 🧙♂️
Friday 12/20/2024 04:45 AM EST
GBPJPY
💎 #GBPJPY Buy 196.4 - 196.0 💎
Stoploss 195.2
Breakeven 196.45
TakeProfit 1: 196.6
TakeProfit 2: 196.8
TakeProfit 3: 197.0
TakeProfit 4: 197.2
TakeProfit 5: 197.4
TakeProfit 10: 198.4
TakeProfit 20: 200.4
TakeProfit 30: 202.4
Trade at your own risk
Protect your capital
The Wizard 🧙♂️
Friday 12/20/2024 04:45 AM EST
GBPJPY
GBPJPY 200 pips target done enjoy
GBPJPY 📊 GBPJPY Intraday Trade Setups
💼 Trade Idea: Buy Intraday Trade Setup
🔹 Entry Price: ✨ 197.071
🔹 Stop Loss: ❌ 196.800
🔹 Take Profit 1: 🎯 197.400
🔹 Take Profit 2: 🎯 197.600
📌 Reason for Entry: The entry price of 197.071 is near a significant support level, confirmed by the daily Fibonacci retracement. The price action indicates a potential upward reversal, with the first target at 197.400 and the second target at 197.600. The stop loss is placed at 196.800 to manage risk effectively.
💼 Trade Idea: Sell Intraday Trade Setup
🔹 Entry Price: ✨ 197.462
🔹 Stop Loss: ❌ 197.700
🔹 Take Profit 1: 🎯 197.200
🔹 Take Profit 2: 🎯 197.000
📌 Reason for Entry: The entry price of 197.462 aligns with a strong resistance level, supported by daily Fibonacci retracement levels. The market shows signs of a potential downward movement, with the first target at 197.200 and the second at 197.000. The stop loss is set at 197.700 to control risk.
💡 Summary:
GBPJPY is at critical levels, with support at 197.071 and resistance at 197.462. The Buy Setup at 197.071 targets 197.400 and 197.600, while the Sell Setup at 197.462 targets 197.200 and 197.000. These setups are based on daily Fibonacci retracement levels and strong support/resistance zones.
GBPJPY buy now take profit 198.50