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Gbpjpy_outlook

#GBPJPY 1DAYGBPJPY (4H Timeframe) Analysis Market Structure: The price is currently forming a symmetrical triangle pattern, indicating consolidation and decreasing volatility. This pattern suggests that the market is in indecision, and a breakout in either direction could lead to a strong move. Forecast: A breakout on either side will determine the next direction. Traders should wait for confirmation before entering a position. Key Levels to Watch: - Entry Zone: A buy position can be considered if the price breaks above the upper trendline, while a sell position can be considered if the price breaks below the lower trendline. - Risk Management: - Stop Loss: Placed beyond the breakout level to manage risk. - Take Profit: Target key support or resistance levels based on the breakout direction. Market Sentiment: The symmetrical triangle pattern suggests that momentum is building up, and a strong move is expected after a breakout. Waiting for a clear confirmation will help avoid false signals.
by PIPSFIGHTER
GBPJPY AnalysisGBPJPY Analysis and Trade Setup GBP/JPY is currently testing a historically significant resistance level that has repeatedly acted as a barrier to price advancement. Given the strength of this resistance zone, it is reasonable to anticipate a potential rejection or pullback. Historically, such levels often prompt a reversal, particularly after a retest of the structure, which could further confirm the resistance's validity. The likelihood of a rejection at this level is supported by the principles of technical analysis, as repeated tests of a resistance level tend to reinforce its significance. In summary, while the current setup suggests a potential pullback from the resistance level, traders should remain cautious and monitor key technical and fundamental factors,
Short
by sirkamal
9
GBP/JPY Tests Resistance Zone: Breakout or Rejection?GBP/JPY Analysis: Trendline Support: The price is forming higher lows (HL), with the trendline providing strong support, maintaining a bullish structure. Resistance Zone : A key resistance zone between 197 and 199.5 has caused multiple rejections (1, 2, 3), indicating a strong supply area. Next Move: If the price retests the resistance zone and faces rejection, it may form HL5 near the trendline before another potential breakout.
Long
by unichartz
GBPJPY next possible move🔴🔴 DIFFERENCES BETWEEN AMATEUR TRADERS AND SUCCESSFUL TRADERS 💡 Amateur Traders: ❌ Rely on "27" technical indicators without a clear strategy. ❌ Are influenced by the opinions of others. ❌ Make decisions based on emotions rather than logic. ❌ Take reckless risks, often due to a lack of preparation. 🔥 Successful Traders: ✅ Analyze price movements with precision and discernment. ✅ Prepare clear action plans and adapt quickly to new market data. ✅ Use structured trading systems to minimize uncertainty. ✅ Take calculated risks based on rational analysis and probabilities. ⚠️ Lesson: Don’t let emotions or external noise dictate your decisions. Be methodical, structured, and disciplined. That’s where the key to trading success lies. 🎯 Which category do you choose to join today?
Short
by eLs-Trading
1
#GBPJPY: UPDATED VIEW 24/10/2024 **GBPJPY UPDATED VIEW BASED ON PREVIOUS ANALYSIS** Dear Traders, I hope you are doing well. Based on our previous analysis of GBPJPY, we identified two potential selling opportunities within the market. However, the bullish sentiment in the DXY currency pair has had a significant impact on JPY, causing it to fall short of its full value within the daily timeframe. As of today, we have observed a potential exhaustion of DXY’s bullish momentum, with four-hour candles indicating a strong bearish pressure. This development presents an opportunity for JPY to rebound, potentially allowing us to secure substantial profits within the market. Now, let’s focus on the GBPJPY currency pair. The price has extended its bullish trend, although there is a possibility of a reversal from its current position. We recommend implementing appropriate stop-loss orders for any sell entries taken from the current market price. If the initial entry fails, we are confident that the price is likely to reverse from our second entry. Before making any decisions based on this analysis, it is essential to conduct your own research. This analysis is solely for educational purposes and should not be considered financial advice. We appreciate your feedback and support. If you find our work valuable, please consider liking and commenting on our ideas. Additionally, following us will provide us with encouragement and motivation. Best regards, Team SetupsFX_
Short
by Setupsfx_
19
#GBPJPY: Is it correction for Bears or change of character? Dear traders, GBP/JPY has experienced a significant correction. The price reached the 195 level before declining to the 190 level. Currently, the price is fluctuating around 193.68, and a potential upward movement may extend to approximately 197 or 198. If the price disregards this range and breaks out to a higher level, we have identified a secondary entry point that offers a safer entry for risk-averse traders. Additionally, it is crucial to monitor the performance of the US Dollar Index (DXY), as its bullish trend can negatively impact the Japanese yen (JPY), leading to a surge in all JPY pairs to new highs. Therefore, close attention should be paid to the DXY's performance. In our professional opinion, the price has formed an "AB=CD" pattern. Furthermore, an examination of the 4-hour timeframe suggests the possibility of a character change. Should this occur, we will provide an update. Please conduct your own research before executing any trades, as this chart is solely for educational purposes. We appreciate your support by liking and commenting on our idea; it serves as an encouragement to our team. Thank you. Team Setupsfx_
Short
by Setupsfx_
14