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GBPJPY Analysis (22nd May 2024) Market Analysis PT2/2 (22nd May 2024) GBPJPY Analysis On the 30 minute timeframe, we have created a very strong support at the 198.272 - 198.363 level, having more than 5 taps along the area and rejecting it. There are 2 scenarios i am looking for. 1) Price breaks above the 198.615 level with a body candle close on the 15 minute. If we do have that, i will be looking for potential Buys ton continue the bullish move, given that it provides a retest of the 198.615 level. 2) Price breaks below the 30 Minute support with a body candle close. IF this happens, support fails and turns into resistance, this is where will be looking for a break and retest to continue lower towards the 197.800 level.
by CallistoFX
GBPJPY Analysis (22nd May 2024) Market Analysis PT2/2 (22nd May 2024) GBPJPY Analysis On the 30 minute timeframe, we have created a very strong support at the 198.272 - 198.363 level, having more than 5 taps along the area and rejecting it. There are 2 scenarios i am looking for. 1) Price breaks above the 198.615 level with a body candle close on the 15 minute. If we do have that, i will be looking for potential Buys ton continue the bullish move, given that it provides a retest of the 198.615 level. 2) Price breaks below the 30 Minute support with a body candle close. IF this happens, support fails and turns into resistance, this is where will be looking for a break and retest to continue lower towards the 197.800 level.
by CallistoFX
Decoding the BoJ's Role: Impact on GBP/JPY ReversalThe GBP/JPY experienced a notable turnaround at the 200.500 level following reports indicating potential direct intervention by the Bank of Japan (BoJ) in the foreign exchange (FX) markets. This intervention, suspected to have occurred twice within a two-day span earlier this week, aimed to bolster the beleaguered Japanese Yen (JPY). Disclosure reports from the BoJ revealed a significant overspending on uncategorized financing operations, amounting to approximately 9 trillion Yen. This substantial deviation from expected financial activities strongly suggests the likelihood of direct market intervention in support of the Yen. However, official statements confirming or denying such actions have yet to be issued. Our analysis anticipates a retesting of the aforementioned price zone, followed by a continuation of bearish momentum in the GBP/JPY.
Short
by FOREXN1
2
GBPJPY was largely flat on ThursdayGBP/JPY was largely flat on Thursday, trading slightly below trendline resistance at 192.70. Bears need to protect this ceiling tooth and nail; any lapse could spark a move towards the 2024 highs at 193.55. On further strength, a jump towards the psychological 195.00 mark cannot be ruled out. On the other hand, if the pair gets rejected from its current position and pivots to the downside, support stretches from 190.60 to 190.15, where a rising trendline converges with the 50-day simple moving average and April’s swing lows. Additional losses below this floor could reinforce bearish impetus, opening the door for a drop towards 187.90.
by Xayah_trading
1
GBPJPY → The Japanese currency continues to weakenFX:GBPJPY is preparing to continue its growth amid the strong weakening of the Japanese national currency. Japan's central bank has been underperforming and is not about to do so. The strong bullish trend in the currency pair may be continued. There are no prospects for a trend change. The key target at the moment is 195.844 On H1 it is worth paying attention to the level of 192.78, the price is gradually creeping up to this level and continues to test it, forming a pre-breakout consolidation, technically and fundamentally the market may soon update the maximum and head towards the above target. Support levels: 192.0, 191.33 Resistance levels: 192.78, 193.54, 195.85 The key emphasis is on the nearest resistance at 192.78. I am waiting for a breakout of the level with further consolidation above the zone and growth to the targets Regards R. Linda!
Long
by RLinda
3
GBPJPY Supported by the 1D MA50.The GBPJPY pair has been trading within a Channel Up since late May 2023. Recently it has been rising on a shorter term Channel Up (dotted) supported by the 1D MA50 (blue trend-line). As long as it does, we have to stay bullish short-term, targeting the top of the Channel at 195.000. Since however the blue Channel Up has already completed a symmetrical Higher High leg at +8.24% (similar to the August 22 2023 Higher High), we face a technical necessity for a strong pull-back. We are willing to take this sell only if the pair closes a 1D candle below the 1D MA50. When it does, we will take the loss on the buy and short towards the 1D MA200 (orange trend-line), targeting 186.500. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot
1
Bearish Drop GBPUSD is currently at the pivot close to the 50% Fibonacci retracememt and could potentially fall to the swing support level. Alternatively, if the price breaks above the pivot, it could continue to rise to the next resistance level Pivot: 191.62 Support: 190.33 Resistance: 192.75 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Short
by ICmarkets
GBPJPY Analysis (11th April 2024) Market Analysis PT2/2 (11th April 2024) GBPJPY Analysis On the 4 hour timeframe, price action rejected off the 4 hour Orderblock and created another bearish Change of character, This shifts my bias from bullish to bearish on the 4 hour. In the process, a 4 hour Fair Value Gap has been formed and if you drop to the 1 hour timeframe it also overlaps with a 1 hour Fair value gap. This will be a high probability area for me to look for potential SELLS from. Ideally i want to see price tap into the 4 hour FVG and create a 5/15 minute Change of Character before looking for sell on GJ.
Short
by CallistoFX
Falling toward the support GBPJPY is currently at the pivot and could potentially fall to a pullback support level. Alternatively, if the price breaks above the pivot, it could continue to rise to the next resistance level, above 127.2% Fibonacci extension Pivot: 192.26 Support: 191.54 Resistance: 192.95 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Short
by ICmarkets
Bearish reversalGBPJPY is rising toward the pivot point that lines up with the 161.8% Fibonacci extension and 61.8% Fibonacci retracement and could potentially fall to a support level. Alternatively, if price breaks above the pivot, it could continue to rise to the next resistance level Pivot: 192.14 Support: 191.24 Resistance: 193.39 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Short
by ICmarkets
2
GBP/JPY Holds Steady Amid Easter Break, Eyes Bearish ContinuatioAs the financial markets took a pause for the Easter holiday, the GBP/JPY pair maintained stability around the 191.00 level on Friday, showing minimal movement. Meanwhile, Federal Reserve Chair Jerome Powell made statements emphasizing the adaptability of monetary policy to various economic scenarios. Technically, the price experienced a reversal near 193.500, as anticipated in our previous analysis, leading to a decline of nearly 200 points. Currently, the pair is consolidating within a range, forming a triangle pattern that appeals to enthusiasts of technical analysis. Our analysis indicates a bearish continuation for the GBP/JPY pair, considering its correlation with the GBP/USD, which is currently in a bearish trend on the H4 and lower timeframes. For further details, you can refer to our previous analysis of GBP/JPY by following the provided link.
Short
by FOREXN1
1