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Gbp-jpy

GBPJPY: Small rebound expected to be a perfect sell entry.GBPJPY got flatly rejected on our last idea as it peaked on the HH trendline and crossed under the 1D MA50 (chart at the bottom of the analysis). Even the Channel Up broke downwards and the 1D technical outlook is bearish (RSI = 38.762, MACD = -0.520, ADX = 38.784) officially. A new Channel Down has emerged, which shifted the 4H MA50 to a Resistance after the September 6th breakdown. Our trading approach includes waiting for the next 4H MA50 contact, sell it and target a new LL. As you see the 2.0 and 3.0 Fibonacci extensions almost match the S1 and S2 levels respectively. Our targets are formulates accordingly (TP1 = 180.400, TP2 = 177.000). Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
1
GBPJPY 24/9/23GJ to kick things off on this fine Sunday evening! After a news powered shift lower we put in a new SWL and SWH which created our current sell range, iam looking for our low to be ran but overall we do have a high level of liquid above our current highs so iam looking for a early sweep to fuel us lower. in an ideal world id love to see a tap into our swing poi but iam not sure we will see this before we trend deeper in our current direction. Remember to always read order flow and follow what price is showing you instead of trading based on your desired direction. And, as always, stick to your risk and your plan. We'll be closely monitoring market openings and price action throughout the week. If you find this analysis useful, let us know in the comments below and hit the boost button to show your support. Here's to a successful week of trading!
by PipSurfingSociety
GBPJPY Turning bearish until the end of the yearThe GBPJPY pair crossed under the MA50 (1d) again and is approaching the MA100 (1d). We have a Rising Resistance peak pattern, which is very much like that of May 2021. In fact the whole fractal since its begining (2021) is very similar to today's (since 2023). This most likely turns the pair bearish inside a Megaphone for the remainder of the year. Trading Plan: 1. Sell every rise to the top (dashed line) of the Megaphone. Targets: 1. Lower Lows until the price hits the MA200 (1d). Tips: 1. The RSI (1d) also shows high symmetry between the fractals. It peaked on the first Higher High of the Rising Resistance, breached the MA50 (1d) when the RSI was near 40.00 and made the second Higher High (and peak) around the 70.00 mark. Please like, follow and comment!! Notes: Past trading plan:
Short
by TradingBrokersView
1
GBP/JPY Faces Diverging Central Bank Views and UK DataGBP/JPY Faces Diverging Central Bank Views and UK Data Introduction The GBP/JPY pair continues its upward trajectory during the Asian session on Wednesday, hovering around the 184.00 level. As the pair extends its gains, it faces a confluence of factors, including diverging central bank views and upcoming UK data releases, which could impact its direction in the near term. BoE's Cautious Approach The Bank of England (BoE) has adopted a more cautious stance recently, as highlighted by Governor Andrew Bailey's remarks. Bailey mentioned that the central bank is approaching the peak of the rate hike cycle. This cautious tone comes despite persistent inflationary pressures in the UK. The BoE faces a delicate balancing act, as aggressive interest rate hikes could potentially pose risks to the British economy. The central bank must carefully navigate the trade-off between controlling inflation and ensuring economic health and stability, which can have implications for the British Pound (GBP). Changing Rate Expectations Market expectations have shifted significantly regarding the BoE's monetary policy. Overnight-indexed swaps, as of Tuesday, suggest that the central bank might exit negative interest rates as early as January. This marks a notable change from the market's expectations after the July policy meeting, which pointed to an exit from negative rates in September 2024. These evolving rate expectations reflect the changing economic conditions and central bank guidance, potentially impacting the GBP/JPY pair. BoJ's Comments Adding to the complexity of the situation are recent comments by Bank of Japan (BoJ) Governor Kazuo Ueda. Ueda hinted at the possibility of eventually ending the central bank's negative interest rate policy if economic data continues to improve by the end of the year. However, it's essential to consider that before making significant policy changes, the BoJ needs to be confident in achieving its 2% inflation target and rising wages. While Japanese inflation has temporarily exceeded the 2% target, there are concerns that it may fall below BoJ targets in the coming months. This suggests that expectations of imminent rate adjustments may be premature, and the central bank will likely assess economic conditions and inflation trends carefully. Upcoming UK Data Market participants are eagerly awaiting mid-tier data figures for July from the United Kingdom, scheduled for release later in the day. These datasets, including Gross Domestic Product, Industrial Production, and Manufacturing Production, offer insights into economic activities in the UK and could impact the GBP/JPY pair. Conclusion The GBP/JPY pair faces a complex landscape shaped by diverging central bank views and upcoming economic data releases. The cautious approach of the BoE, coupled with evolving rate expectations, contrasts with the BoJ's recent comments, creating uncertainty for the pair's direction. As investors await the UK data releases, the GBP/JPY pair may experience volatility, and its future trajectory will likely depend on the interplay of these factors in the coming days. Our preference Below 184.800, expect 183.235 and 182.600.
Short
by FOREXN1
24
GBP/JPY Forecast: Analyzing the Future OutlookThe asset in question is currently adhering to a prevailing downtrend, exhibiting a prolonged phase of consolidation. Notably, it has recently dipped below the support level observed in the previous two weeks, located at the 184 area. In the upcoming sessions, our strategy revolves around the potential for a price rebound, targeting the 180.4 threshold as a prospective entry point for short-selling positions. We will closely monitor price behavior at this level; should it maintain resistance, we anticipate a subsequent descent, with an objective set to ride the downward momentum towards the 182.7 area.
Short
by Blackerberg
GBPJPY 17/9/23Starting things off as we do a lot of the time with GJ We are sitting in a clear swing low range so we aim to see the low of this range taken out coming into next week but we do have a few highs above our current price, which tells us that we may have a shift higher into some of this liquid, as a whole iam not holding either our low or our high as a certainty meaning il be tracking price action that forms within our range to work out which is most likely to be served first. Remember to always read order flow and follow what price is showing you instead of trading based on your desired direction. And, as always, stick to your risk and your plan. We'll be closely monitoring market openings and price action throughout the week. If you find this analysis useful, let us know in the comments below and hit the boost button to show your support. Here's to a successful week of trading!
by PipSurfingSociety
GBPJPY Sell signal on this Triangle pattern.The GBPJPY pair is trading within a Triangle pattern, similar to July's. The price is currently approaching the 4H MA200 (orange trend-line), which is untouched since August 08. As long as the pair closes below the 0.382 Fibonacci level, we are selling the bearish break-out and target 181.600 (Fibonacci 1.5). Notice how the 4H MACD sequences between the two fractals are identical. ------------------------------------------------------------------------------- ** 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
GBPJPY: Rejected at the top of the 2 year Megaphone. Sell signalGBPJPY hit the HH trendline of the two year Megaphone pattern and that has so far put a pause to the uptrend. The 1D timeframe has turned neutral (RSI = 52.182, MACD = 0.480, ADX = 25.579) and is supported by the 1D MA50. The MACD formation reveals that the pair could be ahead of a 0.382 - 0.236 Fibonacci correction as in June/July 2021. As a result there are higher probabilities for a short term sell. We are targeting the 1D MA200 not lower than the 0.382 Fib (TP = 177.000). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
GBPJPY 27/8/23Starting off our week as per with GJ! Now last week left the market in abit of an open space with very large ranges and lots of imbalance to fill, the main reasons for this is that we had the Jackson hole news event which has directly shifted a lot of our pairs directions and narrative. Its important to not the time of the year we are in right now, we have just hit the final week of August which is widely know for being the worst time of the year to trade, we are now coming to the end of this period, so with this in mind i strongly believe the Jackson hole event has finally injected our high liquidity back into the markets for our final quarter. Meaning the following, more efficient swings, faster and stronger moves with trend and a larger daily pip range, so all round good news for us! Now as you can see we have a very large range here on GJ and as we head into this week we will only be looking for internal movements, leading us to look towards our LDN and NY opens, mainly focusing on our SE entry model. we have seen price react from our C-swing low and mainly think we may shift higher from here but overall we are still bearish on this as it stands. Our swing high is a news POI which means we can only really look for confirm entries on this we also have a lot less confirmations for shorts at the high as it becomes a very old POI. Remember to always read order flow and follow what price is showing you instead of trading based on your desired direction. And, as always, stick to your risk and your plan. We'll be closely monitoring market openings and price action throughout the week. If you find this analysis useful, let us know in the comments below and hit the boost button to show your support. Here's to a successful week of trading!
by PipSurfingSociety
GBPJPY 20/8/2023Starting our week off the same way we have the last few weeks with GJ. Now on Friday we had a slow day for PA but overall we did put a new sell range in, showing deeper sell side prices are to be expected for the next expansion on GJ, now there are some keu points to keep in mind with the range. firstly we have a very weak break on our SWL, this tells us that price is slowing down on the sell side so we should use caution on entry into our sell trade. Secondly we have a very low volume POI as it sits within out Asia range which has a lot lower levels of liquidity than our NY and LDN. thirdly we have a C-swing POI that has pushed price out of our SWL poi bringing us into the 50% level of our range, we also have the ASIA high above our SWH so overall very low risk if we enter this range overall. **KEY NOTE** Jackson hole meetings this week that always shake up the markets so please keep an eye on that event! Remember to always read order flow and follow what price is showing you instead of trading based on your desired direction. And, as always, stick to your risk and your plan. We'll be closely monitoring market openings and price action throughout the week. If you find this analysis useful, let us know in the comments below and hit the boost button to show your support. Here's to a successful week of trading!
by PipSurfingSociety
GBPJPY 13/8/23Starting off our Sunday as always with GJ, we came out of last week with 2 clean entries using our ASE system, overall we have a very obvious trendline liquidity zone within our bullish swing range, also known as internal liquidity. this gives price a clear area of liquidity to sweep out before carrying over our order flow. We are looking for our SWH as our target, but of course we will want to see a shift down to bring us back to our bank order zone before going higher. Remember to always read order flow and follow what price is showing you instead of trading based on your desired direction. And, as always, stick to your risk and your plan. We'll be closely monitoring market openings and price action throughout the week. If you find this analysis useful, let us know in the comments below and hit the boost button to show your support. Here's to a successful week of trading!
by PipSurfingSociety