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Gbpjpyanalysis

GBP/JPY about to reach key level, what should you do now?GBP/JPY is currently in an uptrend in the 4-hour chart where price is about to reach a key level in the 168.50 zone. At present, I do not recommend taking any trades in GBP/JPY as we have BOE event coming up in the next few hours which will lead to a lot of volatility in GBP pairs. However, if the uptrend line for GBP/JPY is intact and we can see bullish Price action in the 168.50 zone, GBP/JPY can reach 172 again. A break below the uptrend line and especially the 168.50 key level would lead to a further decline towards 163.
by YourLazyTrader
2
GBPJPY: Seller's Opportunity!Fundamental Overview The GBP/JPY pair is nearing its highest point in six months at 172.17 following a break above the consolidation around 171.00 during the Asian session. The Japanese Yen has been affected by the new Bank of Japan Governor Kazuo Ueda's support of an ultra-dovish monetary policy to maintain consistent inflationary pressures above 2%. The BoJ has confirmed unanimously that there will be no alteration to the Yield Curve Control, indicating that an exit from the loose policy is not being considered at this time. Expect this to be a correction before continuing the uptrend Plan trade in the intro ♥
Short
by Sphyn-Trader
2
GbpJpy -> Textbook TradeHello Traders, welcome to this free and educational multi-timeframe technical analysis . On the weekly timeframe you can see that GbpJpy just retested and rejected a quite obvious previous weekly resistance at the 171.000 JPY level. However you can also see that weekly market structure and moving averages are still very bullish, with last week's candle we broke multiple structure levels towards the upside and we are also currently retesting previous resistance which is now turned support so I simply do expect more continuation towards the upside from here. On the daily timeframe you can see the exact same setup, we just recently broke above a major daily resistance level at the 168.5 JPY area which is now turned quite strong support, so I am now just waiting for some more bullish confirmation inside of this zone before I then do expect another daily rally towards the upside. Thank you for watching and I will see you tomorrow! You can also check out my previous analysis of this asset:
Long
by basictradingtv
28
GBPJPY 15M 02/05/2023 Currently, on the 15-minute timeframe, we are in a bearish trend formed by two changes in structure. Therefore, we are currently in a bearish range that goes from 171.604 to 169.952, with the latter being the liquidity point of the current bearish range. We have a demand zone in the area of 171.559 to 171.382, and the second zone is between 172.328 and 172.162. We could expect a reaction in both zones, provided we observe how the price orders approach these areas. Alternatively, we could wait for these ranges to be liquidated and broken to establish a new bullish trend and liquidate the liquidity points of the previously established ranges.
Short
by mdr300896
GBPJPY 1H 02/05/2023 Currently, on the one-hour timeframe, we are in a bullish range that extends from 168.713 to 172.094, with the latter being the liquidity point of the current range. We can look for a bullish reaction once the price reaches our potential area of interest between 169.387 and 168.729. Alternatively, if the price shows a marked downward movement, we could look for reactions to the upside at the second area of interest, which is between 167.368 and 166.431. However, if it reaches this zone with a double structure break, we could expect that the zone would be liquidated.
Long
by mdr300896
GBPJPY 4H 02/05/2023 Currently, in the 4-hour timeframe, we are in an uptrend range ranging from 165.422 to 172.328, with the latter being the liquidity point of the current range. We can also see that the price has left us two demand zones of interest in the areas of 167.388 to 166.431 and another from 165.991 to 165.648. When the price touches these areas, we can look for a reaction in favor of the main trend as long as we see how the price reached these zones. Alternatively, we can decrease the timeframe to follow the ranges that are being created in favor of the trend.
Long
by mdr300896
GBPJPY 1D 02/05/2023Currently, on the daily timeframe, we are in a bullish range that extends from 165.422 to 172.328, with the latter being the liquidity point of the current range. We can also observe that the price has left an unmitigated zone between 167.341 and 166.431, where we can expect a bullish reaction. Therefore, we can wait for the price to reach this zone to anticipate a possible reaction in favor of the trend, or alternatively, we can go down to lower timeframes to see what new ranges in favor of the trend are forming and can be traded.
Long
by mdr300896
GBPJPY Weekly Analysis 1/5/2023 to 5/5/2023The price currently retesting a major high at 172.071 from 2022 & showing signs of price rejection finding resistance at that high while the price also formed a support at 171.051 on shorter TF. So if price closes below the support on shorter tf then it might continue pushing down as a pullback to retest the next support or uptrendline at 169.229. But if price closes above the recent high then it might continue its bullish run towards the next key level at 174.939.
by mightybullcapital