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D-GJ

GBPJPY 12TH MARGBPJPY took a huge dump last week after the NFP. Now looking for either a continuation of Bearishness to lead us into our true swing low. To then continue the overall bullishness up. Or I'm looking for a shift higher first to then lead us into our lower demand zone for the higher shift up. Now, following this idea, I'm looking for a reaction at our nearest point of supply that we currently sit inside of... if this doesn't happen il be looking for longs to take out our swing high. Make sure that you always use your confirmations to get into a trade and always be flexible with your analysis. Remember, sticking to your trading plan and consistently entering the same setups will bring you profitability. If you like this idea, drop us a boost and a comment down below. We hope you all have a profitable and successful trading week.
by rosshayes
GBPJPY Potential Forecast | 8th March 2023Fundamental Backdrop 1. Upcoming GDP q/q for the GBP releasing this Friday. 2. A positive print and above forecast will set the GBP for some bullish pressure. 3. Overall, due to interest rate differential and the difference in monetary policy stance of BOE and BOJ, GBP continues to appreciate against the JPY. Technical Confluences 1. Price has officially tapped into the H4 support at 161.91. 2. Price continues to form higher highs and higher lows. 3. Anticipate for price to tap into the H4 resistance level at 166.04. Idea I will be looking for price to continue its bullish momentum and for a break of structure on the lower timeframe which will serve as a confirmation for my long entry.
Long
by OlympusLab
1
GBPJPY Potential Forecast | 6th March 2023Fundamental Backdrop 1. GBP inflation continues to remain elevated at 10.1% for the month of January. 2. BOE continues to take a hawkish stance and most recently raised rates by 50bps to 4.0% in its February meeting. 3. Inflation would need to make a marked fall for the BOE to revise its hawkish stance in the market. 4. BOJ continues to maintain its key short-term i/r at -0.1%, signifying the dovish stance in the market. 5. This wide interest rate differential continues to play a pivotal role in the appreciation of pound over the yen. Technical Confluences 1. Price is currently flirting the H4 support level at 162.8. 2. Price has also retraced past the 50% in the fibonacci retracement. 3. Price is also resting on the Ichimoku cloud on the H4 timeframe and this serves as a dynamic support zone for price to continue higher as well. Idea Looking for long positions on the GBPJPY for price to head up to tap into the HTF resistance at 166.04. NOT FINANCIAL ADVICE DISCLAIMER The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas. We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades. Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks. OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
Long
by OlympusLab
GBPJPY Potential Forecast | 2nd March 2023Fundamental Backdrop 1. BOE continues to face higher inflationary pressures which will prompt the BOE to take on a more hawkish stance in the market. 2. BOJ continues to ease, dovish stance is continued. 3. This interest rate differential continues to be a key factor in the appreciation of the GBP over the JPY. Technical Confluences 1. Price is still on a bullish trend forming higher highs and lows. 2. Price is resting well above the ichimoku cloud, signifying bullish intent in the market. 3. Price retraced to the key H4 support level at 161.7 and continued bullish and is currently flirting the level at 163.7. 4. Price can potentially head to the lower timeframe support at 162.8 before heading back up. Idea Will be looking for price to tap into the support at 162.8 before continuing its bullish trajectory where longs will be taken upon proper confirmation. NOT FINANCIAL ADVICE DISCLAIMER The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas. We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades. Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks. OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
Long
by OlympusLab
2
GBPJPY - At a CrossroadHey there! Gj is my favorite pair, such a nice volatile pair to work with, but lately it's been acting pretty crazy, that's why I haven't talked about it so much. But, price is at an interesting spot right now. See this 160 level, it used to be a support in the recent past, and a strong one. It's been hit several times between last june-september. Then we had a squeeze short that went to grab all the 150.00 level's liquidity to go hit the ceiling at 170.00. We broke back down 160.00 last december and since then we're ranging, between 155.00 and 160.00. Since december, we've hit 160.00 about 5-6 times and now we're getting the 7th one. But this one is different, see, JPY has been really weak lately, and also, it's been more volatile than GBP. You can see this by analysing the last swings of both currencies, check it out : If we take last swing of each currency against the dollar we have : GBPUSD last swing from 14/02 tu 20/02 => 2.85% variation USDJPY last swing from 14/02 to 20/02 => 4.09% variation So, this means that, for now, JPY is more sensitive to dollar than GBP is, so JPY is weaker than GBP against the dollar. In other words, in a situation like this one, if USDJPY is going up, so is GBPJPY. In a previous analysis I was showing a potential rebound of USDJPY this week. If it was to happen I would look for a potential break of the 160.00 level but, I would really like to see the price to retrace a little bit before, to get a nice entry. The situation : 1) We're ranging 2) GBP stronger than JPY lately 3) We're touching the top of the range, 7th touch 4) There's a huge imbalance just above the 161.00 resistance, if price was to break it would be vaccumed up to 164.00 - 165.00 5) We're waiting on a retracement with USDJPY, and it's been corelated with GJ lately So, this one is not a textbook trade that's for sure. But, I know GJ, and right now, it looks like it wants to go get this 161.00 reistance. Ultimately, we'll let the market decide what it wants to do, and we'll be ready for what happens then Cheers everyone and happy trading!!!
Long
by aemerydufoug