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Gbp-jpy

GBPJPY: Hit a 2 year Resistance. Hard fall possible.GBPJPY hit today the top (HH line) of the Megaphone pattern that started on the May 24th 2021 High. Tha last time it did (April 18th 2022), the price got rejected back to the 0.618 Fibonacci level and the 1W MA50. Right now the 1W MA50 is already near the 0.618 Fibonacci and is headed towards the 0.5. With the 1W technicals vastly overbought (RSI = 75.716, MACD = 4.620, ADX = 61.529), we expect a hard landing for the pair and open a long term sell targeting the 0.5 Fibonacci (TP = 170.000), where not only we project contact with the 1W MA50 but is also where the HL of the Rising Wedge is. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
4
🔥 MODIFICATIONS & ADD-ONs: GBPJPY...DT 🔥 POSITION TRADE 🔥🙌🏾 NO RISK TRADE MODIFICATIONS SLO3 @ 191.25 ⏳ SLO1 @ 183.75 📉 +41 pips +SL @ 183.66 🚫 +9 pips SLO2 @ 183.20 (1m) ⏳ TP1 @ 169.66 (shaving 25%) TP2 @ 157.50 (shaving 25%) TP3 @ 148.66 (shaving 25%) TP4 @ 135.00 (closing ALL Sell Orders) BLO1 @ 131.75 ⏳ BLO2 @ 123.75 ⏳ -SL @ 120.00 🚫 🤑 Our Net Equity is @ +158 pips 🚫 +SL modified to preserve capital (see above) ✍️ After Multi-timeframe analysis, on noticed a newly created Supply Zone on the 55m and the 1m chart. 📉 If Price Action (PA) pulls back (PB) up to that Supply Zone, I placed a new Sell Limit Order at the proximal of the range (see above) — the range for an entry is from 183.20 to 183.60 (55D)
Short
by ProfessorCEWard
GBPJPY - Continue to rise? or beginning of the fall? 26/06/2023 - 1 Hour TF GBPJPY has been in a Bullish trend for quite a signifcant amount of time consitenly making Higher Highs as well as Lower Lows. Supported on the Weekly, Monthly, Daily & Hourly timeframes. Despite recent Bearish breaks we are looking for potential buys as we kick of the trading week. Recent news articles also points to a potential Bullish run. Raising interest rates also supports the idea of a longer Looking to enter a trade after price has broken below area of support, & it has come back to close above zone a 1:1 or higher win rate ratio. DISCLAIMER: All trades are just my own ideas and should not be taken as a signal. Follow me for more ideas. Happy Trading! Supreme Trading Society
Long
by SupremeTradingFX
1
GBPJPY Road to 184.4 (UPDATE)Hey Traders! 👋 For Day 38/100 of our challenge, we will look at an update on our GBPJPY long idea we sent last week. Technicals: (update to tagged idea) - We've rejected the 62% fib retracement - Created a new high above 182.500 - Expecting this break of high to clear 184.4 - If 181.2 is broken to the downside, invalid idea *** Note that this trade was based on last week's context. Changes in fundamentals have not yet been accounted for. Rob's notes: Was gone for a while as I had to fix my scheduling the past few days. All will be back to normal programming now. Let's complete this 100 days
Long
by rob_WRLD_
GBPJPY to 184 is more than likely - agree?Hey Traders! 👋 For Day 35/100 of our challenge, we will look at a data-backed NZDJPY long idea Technicals: - Impulse higher on break of 179 - High created at 182 res. - Now retracing lower - Expecting 179 to be retracement extension - But if price doesn't extend down to 179, look for a break and retest above 182 res. Today is a harder one as we have too many pairs in play that we didn't want to reveal for the sake of our paying members haha. But the 100-day challenge must go on. What do you think? Leave a like and comment - if you don't agree, tell me what I'm missing. Thanks!
Long
by rob_WRLD_
2
GBP/JPY Hits Highest Levels Since 2016, Ignoring Mixed UK GrowthGBP/JPY maintains its bullish stance around the mid-175.00s, supported by concerns about the dovish stance of the Bank of Japan (BoJ) and selling pressure in Treasury bonds. The currency pair continues to hold onto moderate gains, reaching its highest levels since January 2016. Despite mixed concerns about the UK's economic growth, sellers remain subdued due to BoJ officials defending their accommodative monetary policy. The bond markets reflect significant selling pressure ahead of the upcoming central bank decision. The bearish Japan Producer Price Index (PPI) further strengthens the bullish bias, especially in anticipation of the UK employment data and the BoJ monetary policy meeting. GBP/JPY remains on an upward trajectory for the fourth consecutive day, as bulls push the currency pair to levels not seen since early 2016 during the European session on Monday. This upward momentum is justified by the market's acceptance of the diverging monetary policies between the Bank of England (BoE) and the Bank of Japan (BoJ). Additionally, the firmer bond yields and the upcoming significant data and events of the week contribute to the positive sentiment. Concerns about the hawkish stance of the BoE are not substantiated by the latest comments from policymakers. Catherine Mann of the BoE emphasizes the need for a long-term agenda to support economic growth. Meanwhile, the Confederation of British Industry (CBI) trade body suggests that although the UK's economy is likely to avoid a recession this year, persistent issues like weak business investment remain. The higher inflation in the UK compared to Japan, along with these ongoing concerns, favor the GBP/JPY bulls, reinforcing the divergence between the two central banks. On the other hand, Japan's PPI for May continues its downward trend for the fifth consecutive month, registering a year-on-year decline of 5.1% compared to the previous reading of 5.8% and market expectations of 5.5%. The monthly figures also disappoint Yen traders, showing a -0.7% month-on-month outcome, while expectations were at -0.2% and the previous figure was 0.2%. Following this weak inflation data, BoJ Deputy Governor Masazumi Wakatabe states that there will be no changes in the BoJ's monetary policy during this week's meeting. Furthermore, Bloomberg reports heavy selling pressure in the Treasury bond market, favoring higher yields and GBP/JPY prices. Hedge funds continue to sell short-dated Treasuries, expecting the Federal Reserve's fight against inflation to persist. However, recent bullish speculations supporting the BoJ's potential exit from ultra-easy monetary policy pose a challenge to GBP/JPY bulls. Reuters reports a decline in yields on Japanese Government Bonds (JGBs) as investors anticipate that the Bank of Japan will maintain its current stimulus settings during this week's meeting. Looking ahead, Tuesday's UK employment data will be significant for observers of the currency pair, leading up to the BoJ meeting on Friday.
Long
by FOREXN1
30
GBPJPY Upside PotentialHey Traders! 👋 For Day 27/100 of our challenge, we will look at GBPJPY for upside potential this week/month Technicals: - Overall uptrend - Breaking into a new high - Currently in impulse phase - Expecting pullback towards 174.0/5 - Targeting daily key level 176 - Idea invalid if 172.6 breaks Other technicals: - Seasonality forecasts more upside this month - Retail traders at 90% short (trade against) That's it for today! Let's start the week off well by ticking off all your trading routine tasks. I believe in you 🥂
Long
by rob_WRLD_
2
GBPJPY Upside PotentialHey Traders! 👋 For Day 20/100 of our challenge, we will look at GBPJPY upside potential this week. Technicals - Expecting a simple break and retest of 172.5 pivot zone - Aligns with support zone + 62% fib - Target is at 175 Fundamentals - Expecting GBP to gain some strength on the back of positive UK data and optimistic pricing in of BoE hikes - JPY to remain on pressure as BoJ remains dovish policy stance and a few more ways to go before considering shifting
Long
by rob_WRLD_
GBP/JPY Short idea(5/31/2023)Hello Traders It seems the price has completed a bullish 5-wave impulse Elliot wave and right now it is completing wave 5. Also, we have a big weekly resistance between 174.7-175.1 and likely we will see some price actions there, but wait for reversal signs before taking any short positions. Our technical view has been shown in the chart. If you like it then Support us by Like, Following, and Sharing. Thanks For Reading Team Fortuna -RC (Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.)
Short
by FortunaInvestments
GBPJPY approaching the most optimal sell level.The GBPJPY pair is approaching the Inner Higher Highs trend-line that is in effect for more than a year (since April 20 2022) on a similar Channel Up (green) like the ones of October 2022 and March - April 2022. The 1D RSI is almost overbought, and the 1D MA50 (blue trend-line) has been supporting since March 28. We are starting a sell sequence with the 1D MA200 (orange trend-line) as our medium-term target with a projected contact at 166.500. Notice how common it is for the pair to peak when the 1D RSI double tops. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
7