Get started

Gbpjpyanalysis

GBPJPY gunning for 166.76GBPJPY has failed to hold below 164.38 which failed my bearish conditions and has changed my view on the price movement. GBPJPY has been bullish for the past 1 week and I think it is consolidating so it can move higher and at this point, I am bullish biased on this pair and would recommend everyone look out for buying opportunities at 164.00 - 163.70 region. 👉 Price is above the 200EMA which clearly means we are still bullish 👉 Price has broken multiple resistance/supply/downward trendlines over the past couple of days 👉 Price is in a 5 waves progression and I believe wave 5 is currently unfolding, which puts my first target at 166.76. I would recommend everyone to buy the dip, and as long as 163.44 holds uptrend is not over yet. I would love to hear your views concerning GBPJPY. Please like if you agree and follow for more updates ❕❕❕
Long
by owlswift_fx
GBPJPY Bearish ConditionsLast Friday had the buyers push price up with their last strength but got pushed back by the sellers at the supply/resistance zone around 165.50 region which made the daily candle end as a pin bar, and this is a good candle sign for a reversal to occur, and this week I would expect GBPJPY to push all the way down to 161.51 region if 164.38 region holds. Price has closed below the purple 50 EMA which is also a good bearish sign Its possible price won't consolidate once market opens and its also possible it moves up to 164.38 region for a retest but as long as price 164.38 holds GBPJPY is bearish. Feel free to comment. Please like and follow for more updates
Short
by owlswift_fx
2
GBPJPY: Bears enter!According to the Bank of Japan's Tankan survey for the first quarter, inflation expectations have increased slightly. Additionally, the Jibun Bank of Japan's manufacturing Purchasing Managers' Index (PMI) has risen from 48.6 to 49.2. At the beginning of the week, cautious markets responded to recent news regarding oil production cuts and the subsequent rise in oil prices. Saudi Arabia, along with other OPEC+ oil producers, has announced additional cuts to oil production, totalling approximately 1.16 million barrels per day. The energy ministry of Saudi Arabia stated that these cuts were made as a precautionary measure to maintain stability in the oil market. As a result, the price of WTI crude oil experienced a notable increase, opening the week with a significant gap and reaching a record high of $81.51 during the first few hours of the Asian session on Monday. Anticipate a further decline in the price.
Short
by Sphyn-Trader
Change of characterAfter the liquidity wipe out price swiftly went bullish, got rejected by the neckline and sold off to complete the head and shoulders pattern. Price pushed up on to change the character of the structure and broke the structure to create a higher high. Notice a mild drop after the creation and the order got rejected by the supply zone to drop to the breaker block. Price is now currently reacting to the block, currently faced with reversal candlesticks. Should price respect this area, then we expect it to drive all the way up to make a nice liquidity sweep before going aggressively bearish. The initial target point should be level 164.491 or at least between levels 164.210 and 164.491 then ultimately we target 165.490 before going bearish…
by tokelohomi
20 Reasons for Buy GBPJPY🔆 MULTI-TIME FRAME TOP-DOWN ANALYSIS OVERVIEW ☀️ 1: ✨ Eagle Eye: Although the trend is extremely bearish, the current move is showing a lower high, which may indicate a potential shift towards a bullish trend. 2: 📆 Monthly: There is a clear bullish trend at the monthly level, with consecutive monthly lows being protected. 3: 📅 Weekly: A deep corrective move just finished last week, and this may cause a change in market behavior towards a bullish trend. 4: 🕛 Daily: The intra-day movement is currently sideways, indicating a potential shift towards a bullish trend. Since the big time frame trends are also bullish, we need to change our perspective and wait for a resistance break. 😇 7 Dimension Analysis 🟢 Analysis Time Frame: Daily 5: 1 Price Structure: The price structure is currently sideways to bullish. 6: 2 Candlestick Pattern: The long wick bearish change of guard indicates a potential correction, which we should be prepared for. 7: 3 Volume: The volumes are currently not supporting the bullish trend, which is a little strange. Therefore, we need to be careful with buy entries. 8: 4 Momentum UNCONVENTIONAL Rsi: Resistance is at 60, but the current momentum is sideways. 9: 5 Volatility Measure Bollinger Bands: There was a head fake from the lower band, and the current closing is also indicating a similar scenario. Therefore, we need to wait for a strong confirmation before going with the bull trend. 10: 6 Strength ADX: Compared to last week, the bulls are gaining strength. 11: 7 Sentiment ROC: Last week, the JPY rate of change dramatically decreased, making it the weakest currency for the upcoming sessions. ✔️ Entry Time Frame: H4 12: Entry TF Structure: Bullish 13: Entry Move: We should wait for the correction to end. 14: Support Resistance Base: Daily and H4 areas with FVG (Fibonacci Volume Gradient). 15: FIB: We can use a 15-minute trendline breakout with a Fibonacci trigger event on H4. ☑️ Final Comments: Buy at 15-minute Confirmations 16: 💡 Decision: Buy 17: 🚀 Entry: We can enter at 161, but this is not final, and we need to confirm at the time of entry. 18: ✋ Stop Loss: 158 19: 🎯 Take Profit: 170 20: 😊 Risk to Reward Ratio: 1:3 🕛 Expected Duration: The expected duration for the price to reach the target price is around 3-4 weeks, based on the current market conditions and trends.
Long
by Optimum369
GBPJPY: Upbeat Japan inflation, sluggish yields!During early Friday, the GBP/JPY bulls attacked the previous monthly high and refreshed the multi-day top by picking up bids around 164.80, despite the downbeat expectations of Japan inflation numbers. The latest run-up of the cross-currency pair can be attributed to the optimistic sentiment, even though the yields are still slow. It should be noted that no information has been omitted in this paraphrased text. In March, the Tokyo Consumer Price Index (CPI) increased to 3.3%, which was higher than the expected 2.7%, but lower than the previous month's 3.4%. The Tokyo CPI, excluding food and energy, also rose to 3.4% compared to the previous reading of 3.2% and the market consensus of 3.3%. In February, Japan's Industrial Production growth exceeded estimations with a 4.5% month-on-month increase, compared to the expected 2.7% and the previous -5.3%. Similarly, Retail Trade showed an improvement in February with a 6.6% increase, surpassing the analysts' forecast of 5.8% and the previous reading of 5.0%. However, the unexpected increase in Japan's Unemployment rate from 2.4% to 2.6% in February can be attributed to the recent weakness of the Japanese Yen (JPY). Technical analysis A downward-sloping resistance line from December 13, 2022, near 164.80 by the press time, challenges immediate GBP/JPY upside.
Long
by Sphyn-Trader
2
#GBPJPY- PRICE HEADING TO MAKE YEARLY HIGH 2023HEY EVERYONE, GBPJPY has been bullish since last week sells off where price touched down the discounted price zone where it rejected and currently heading towards to make yearly high. It is possible due to GBP; continues to shows strong bullish momentum and where JPY is tumbling and showing no size of bullish behaviour. Last week selling has been recovered and indicating price dropped for a specific reason most of the selling position would have been wiped off and now retails trader will continue to jump in the market with sell orders. For us it would be wiser to wait for the price to come to our zone where we can sell for long shot. Two opportunities are here, firstly is obviously the buying opportunity until it reaches our selling zone where we can sell for big bearish impulse.
Short
by Setupsfx_
20
GBPJPY Reversal PointGBPJPY is probably running its last bullish uptrend before a bearish turn to 156 region. Overall I am still bearish biased on GBPJPY but this is a possible bullish setup which I think has a high probability of occurrence. We have the red 4hr trendline which has been serving as a resistance by pushing GBPJPY downwards, since February 23, 2023 and price is currently trading near it at the moment. I am of the opinion the trendline would hold today and GBPJPY would get rejected again but this is a 15mins TF analysis, and there's a possibility price touches 162.60 from the purple colored zone before the rejection to the downside happens. Feel free to leave a comment. Please like and follow me for more updates
by owlswift_fx