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Gbp-jpy

GBPJPY Cyclical sell opportunityIt's been quite long since we had a short-term trade (see chart below) on the GBPJPY pair: This time we found an excellent long-term sell opportunity on the 1W time-frame. As you can see it is cyclical in nature having emerged by the rejection of the price on the Higher Highs trend-line of the 4-month Ascending Triangle. The cyclical characterization stems from the comparison with the October 18 2021 rejection on a similar Ascending Triangle Higher High trend-line. The whole structure of the two fractals looks very much alike as they both started off with an aggressive expansion phase that led to the Triangle. The Higher High rejection then, led to a 1W MA50 (blue trend-line) test. We are aiming for that same 1W MA50 test, expecting it to make contact with the bottom of the Ascending Triangle at 178.500. ------------------------------------------------------------------------------- ** 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. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
GBPJPY: Expecting further strengthPound has been in a long term downtrend, however breaking weekly highs and general sterling strength I believe we will see momentum continue to build an push this pair up to monthly highs. I think the Yen will start to improve against the dollar due to dollar weakness, this generally means that other crosses perform well against it, and we're seeing this with the likes of the Aussie. I'm seeing a rising dynamic trendline on the 4HR that I believe will be tested and respected, so I'll likely be going in on a LTF confirmation around the rising trendline.
Long
by Finchcliffe
GBPJPY: Trend is still bullishFrom a technical point of view, the trend is bullish on intraday chart, and OANDA:GBPJPY pair could trigger another bullish leg in the short term. If we look on 1H chart, the price remains within a narrow trading range, and this means volatility compression. In this technical context, if the price remains above 184.552 a breakout on the bullish side should be logical. If this happens, we will need to look for potential Targets and in this case the formation of a Harmonic Pattern could help us. If we look at the harmonic structure (for us it's bullish) in the window, we see 2 Targets: 186.34 and 186.83 . HARMONIC PATTERN ZOOM ========================== TRADING STRATEGY ================= If this analysis is correct, wait for the completion of wave 1 and try to take a long position on retracement, with stop loss below wave 1 or better below 184.552 Trade with care Like | Share | Comment
Long
by TheAnonymousBanker
12
GBPJPY possible reversal After price broke our daily high with momentum,it began to gradually retrace back into an internal structure demand that caused the break of this high. It tapped it,luring in early buyers before it smashed through it with momentum. This signaled a potential shift of internal structure direction as the demand zone was invalidated. We get more confirmation from observing that there is clear double bottom liquidity that was left behind, together with a huge imbalance below it. These are all things that price will have to eventually target and now could be the time because our daily high liquidity was swept, so the failure of the demand zone could result in a flip that would surely push price deep down to clear all internal liquidity and imbalances left behind during higher timeframe expansion.
Short
by BlackTygaTrades
1
GBPJPY: Great sell opportunity approaching.GBPJPY is on a bullish technical outlook on the 1W timeframe (RSI = 66.035, MACD = 3.180, ADX = 33.852) but a great sell opportunity may be emerging as the 1W RSI Bearish Divergence crossed above the MA just like the on October 4th 2021. That was the third top on that pattern much like the one that is being formed now. Technically next week we should see the top. Our target is a little over the S1 level (TP = 178.500). See how well our prior idea has worked: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
2
Riding the Waves: Anticipating GBP/JPY's Next Move Over the NextOver the past couple of weeks, I've been making a series of small long buys. Looking ahead, I've got my sights set on GBP/JPY for the next 3-5 weeks, with a target at 185.89477. Now, here's the deal - if you zoom in on the shorter time frames, things might seem a bit bearish, but when you zoom out using the weekly, there's this bullish wave that's still in motion. That 185.89477 level, well, it's like this zone of imbalance that needs to be hit to restore some balance in the markets. Sure, there might be some more downward pressure, but I'm thinking that over the next 3-5 weeks, this trade's going to unfold as planned. As for the risk management part, I'm going without a stop loss for now. Instead, I'm keeping an eye on the clock and the overall market structure. That's the game plan! 📈🕒 #ForexTrading #GBPJPY
Long
by GlobalHorns
2
GBPJPY BUY | Day Trading Analysis With Volume ProfileHello Traders, here is the full analysis. Watch strong action at the current levels for BUY. GOOD LUCK! Great BUY opportunity GBPJPY I still did my best and this is the most likely count for me at the moment. Support the idea with like and follow my profile TO SEE MORE. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝 Patience is the If You Have Any Question, Feel Free To Ask 🤗 Just follow chart with idea and analysis and when you are ready come in THE GROVE | VIP GROUP, earn more and safe, wait for the signal at the right moment and make money with us💰
Long
by TheGrove
4
GBPJPY Head and Shoulders sell signalThe GBPJPY pair gave us a nice low risk sell trade last time we looked at it (see chart below): This time it gives an even stronger one as it is on the 1W time-frame in the midst of a Head and Shoulders (H&S) formation. That is a bearish pattern calling for a a test of Support at 176.500. Most likely by the time of the test, the 1W MA50 (blue trend-line) will be very close to provide the first level of long-term Support. Notice that the 1W RSI is on Channel Down pattern similar to the April - August 2021 H&S and so does the 1W MACD which is coming off a Bearish Cross. That pattern eventually hit its Support once completed. ------------------------------------------------------------------------------- ** 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. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot