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GBPJPY

GBPJPY LONG Despite BOJ Intervention ThreatI am longing GBPJPY specifically because the currency Strength chart I found on TradingView says that GBP is currently the strongest currency on the Daily Time Frame. I am expecting JPY to continue its decline despite Intervention by the BOJ, as past data has shown that it has been not effective at containing the weakening of YEN. I might change my order to Market Buy instead of Limit Buy if I see that GBPJPY buying demand has resumed on the lower time frames, and it is tough for me to buy in at my expected discount price. Shall see. 1027SGT 21032024
Long
by ProfessionalDuckHunter
1
Strifor || GBPUSD-21/03/2024Preferred direction: BUY Comment: After the Fed meeting , the pound, like most majors, strengthened its position and in the near future, this trend is likely to continue. Of course, surprises from the Bank of England today cannot be ruled out, so the focus on the British currency today is the greatest. It is unlikely that the regulator will suddenly lower the rate, as the Swiss Central Bank did. For the current long-deal, we consider, as always, two scenarios . Volatility cannot be ruled out in any case, so one needs to open positions extremely conservatively, and it is best to gradually accumulate position (step-by-step). Scenario №2 , as one might guess, is a kind of "plan B" , and is intended to unexpected the Bank of England's maneuvers. The target at the level of 1.28000 is the closest potential obstacle for the buyer, so we set the current Take Profit there. But longer-term prospects still locate higher, around the 1.30000 level. Additional comments on this trade will be provided as situation changes. Follow us! Thank you for like and share your views!
Long
by Strifor
1
Strifor || EURUSD-21/03/2024Preferred direction: BUY Comment: As we expected, the Fed nevertheless served as a catalyst for the start of a correction in the American currency . All long trades on the EURUSD currency pair are closed, but despite this, we continue to adhere to the buy priority. At the moment, we also have two scenarios in our arsenal, where scenario №1 assumes maximum growth from the current price, and scenario №2 assumes a deeper correction before growth. The buyer is still strong, and the local highs are expected to update in the area of the 1.10000 level, where our current target is actually located. Additional comments on this trade will be provided as situation changes. Follow us! Thank you for like and share your views!
Long
by Strifor
3
GBPJPY I Bearish divergence and overbought I It will rebalanceWelcome back! Let me know your thoughts in the comments! ** GBPJPY Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
Short
by BKTradingAcademy
12
The Dragon Hits Key Resistance Time To Sell With 195 In Sight?The Dragon has been surging since the start of the Year even more after my initial trade idea from January which did hit my first target of 185 it has now rallied to new highs and sitting at a key Monthly level so what next ? Personally I think once again we have a nice shorting opportunity as we are at a key Monthly resistance level that goes all the way back to 2008 (marked in red) sitting around the 193 level. When price broke through this level in Oct 2008 it dropped nearly 7000 pips in a matter of Months and at the same time creating a nice Monthly SUPPLY/SELL zone. It took 7 years for price to grind it's way back up to this resistance level and when it did once again there was another HUGE near 7000 pip drop hitting the bottom in 2016 . It has taken just over 7 years once again to get back up to this resistance will history repeat ? Personally I think that there will 100% be a sell off once again at this level though I don't think it will drop as much as the last time though several thousand pips is a possibility. The daily chart below is showing us that price momentum is starting to slow down with the sideways movement as it approaches the key resistance, the image below shows you the initial strong trend up, followed by sideways price action, each time price broke to a new high it was quickly sold off to the bottom of the range until we finally got to the resistance level. With the weakness in the Yen this week I can't rule out a run up to the 2015 highs around 195 so my plan of attack is to use my TRFX indicator and look for daily SELL signals from now. First target for this trade will be the bottom of the sideways channel you can see in the daily chart above @180 price could gain some large buying attention here that could build momentum to break this resistance level. If there is a clean break of the monthly resistance then there isn't much stopping this pair moving straight up to the 200 level which is the 0.618 Monthly fib level from the downtrend that started in 2007 (see image below) It's going to be an interested next few weeks to see how this one plays out :)
Short
by TheFxAce
5
GBPJPY Technical Analysis 20th March 2024 1h chart– Tuesday Daily candle close strong Bullish around 191.870 as price break above the previous Monthly High, I’ll be looking for potential Buys above 192.200 targeting previous Daily Support formed on 4th August 2015 around 193.000 and Monthly Resistance formed in August 2015 around 193.460, I’ll be looking for potential Sells below 191.500 targeting 1h previous Resistance formed around 191.110 and Weekly previous Resistance around 190.610. High Impact News ahead of the Pre London session for the Pound Sterling for CPI y/y which may bring volatility to the market.
by SalimFX20
GBPJPY H4 | Breaking out of resistanceGBPJPY is rising towards a pullback resistance and could potentially break above this level and climb higher. Buy entry is at 189.153 which is a pullback resistance. Stop loss is at 188.484 which is a level that sits above a swing-low support that aligns with 50% Fibonacci retracement. Take profit is at 191.317 which is a swing-high resistance High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Long
by Alvard
GBPJPY → The bullish trend may continue for a long time. Why?OANDA:GBPJPY has been forming a bullish trend for 4 years. This trend may continue its growth as the national currency of Japan is not going to strengthen. On W1 we see a clear trend within the global range. The target in the medium and long term could be 195.844. On H1 there is a beautiful price channel and flat. Within the flat price is trading between levels, earlier there was formed a capture of liquidity from the support at 188.83 (false breakout), which in this case formed a sufficient potential for further growth, as the key liquidity, which is now interested in the market, is located above 191.33. Resistance levels: 190.08, 191.33 Support levels: 188.83, 187.96 In the near future we expect a breakthrough of resistance at 190.08 with further consolidation of the price above this area, which will form the potential for growth to the target Regards R. Linda!
Long
by RLinda
6
300 Pips Profit booked in GBPJPY, now wait for a better entryPreviously, on 4 March 2024, we sold GBPJPY at the 191 level and managed to take 300 Pips profit when price dipped to 188. Since then, GBP/JPY is staging a recovery. Currently, the price action doesn't support any further selling. Also, with FOMC around the corner, we recommend traders to be careful with their trades. However, if price reaches the 191.50-192 zone once again and we see signs of bearish rejection candlesticks, we will consider selling GJ again with TP at 188 and 185 respectively
by KaltoireCapital
4
GBP/JPY Faces Selling Pressure Amid Economic UncertaintyDuring the early Asian session on Wednesday, the GBP/JPY pair grapples with selling pressure, hovering around the 190.000 mark. The price action reveals a swing reversal pattern, notably around the 61.8% to 78.6% Fibonacci levels following a double top formation. This sets the stage for a reversal swing trading strategy. Economically, all eyes are on the Federal Reserve's interest rate decision, expected to maintain rates unchanged for the fifth consecutive time. The focus will be on the Fed's stance on inflation, with Chair Jerome Powell hinting at the possibility of rate cuts later in the year, contingent upon sustained progress towards the 2% inflation target. Meanwhile, in the UK, inflationary pressures are easing, prompting caution from the Bank of England (BoE). Despite moderating inflation, the BoE remains vigilant until the Consumer Price Index (CPI) returns to the 2% target. With expectations of interest rates remaining steady at 5.25% during Thursday's BoE meeting, investors anticipate potential rate cuts starting in August, followed by additional cuts by year-end. Amidst this economic backdrop, our strategy revolves around a short position, complemented by a sell limit order at 191.500, capitalizing on the prevailing market conditions and anticipating potential price movements.
Short
by FOREXN1
1
GBPJPY Technical Analysis 19th March 2024 1h chart– Monday Daily candle closed weak Bullish around 189.850 as price consolidated on the 4h timeframe. I’ll be looking for potential Buys above 190.030 targeting 1h Resistance formed at 190.350 and 4h Resistance formed around 190.800. I’ll be looking for potential Sells below 189.530 targeting 1h previous Resistance formed around 189.110 and next 1h Support around 188.790. High Impact News ahead of the Asian session for the Japanese Yen for a review on the bank rate which may bring volatility to the market.
by SalimFX20
Technical Update - GBPJPY testing 190, likely resuming uptrend The GBPJPY pair is testing the 0.618 retracement at 190.04. The RSI shows positive sentiment and has broken above its falling trendline, indicating that GBPJPY is likely to break above the 0.618 retracement and move higher. If the RSI closes back above the 60 thresholds, GBPJPY is likely to break above the February peak at 191.33 and move towards the 1.382 projections at 192.61. A close below 187.85 will reverse the bullish scenario and push GBPJPY lower to 186.17
by Saxo