GBPJPY top-down analysisHello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
Gbpjpyforecast
The GBPJPY achieved some Gains.The GBPJPY pair ended its recent bullish rally by achieving some gains and reaching 166.40, followed by Diving bearishly towards 162.75, hinting its surrender to the stability of the major barrier around 166, which will hinder the attempts to resume the bullish attack in the near term and medium term period.
Also, stochastic exit from the overbought areas will force the price to provide new negative trades that might push it to settle within the bearish channel again, to suffer some losses by moving towards 161 and beyond...
BUYING SCENARIO:
For now point to consider will be 162.75 as a major support...if hold (Buying Scenario) 163.80 will be my first target (Resistance) and if broken then 167 will be confirmed.
SELLING SCENARIO:
again point to ponder will be 162.75 as support and if broke downside then 161.10 will be my target and if broken too then we'll see further nose dive
Trade Wisely.
GBPJPY Next Possible MovePair : GBPJPY ( British Pound / Japanese Yen )
Description :
Bullish Channel as an Corrective Pattern in Short Time Frame and Breakout the Lower Trend Line and Completed the Retracement
Impulse Correction Impulse
Divergence
Rejection from Fibonacci Level - 78.60%
Break of Structure
Completed " 1234 " Impulsive Wave
GBPJPY SELLWelcome . British pound against the yen. in a very negative state. With the price reaching the strong resistance 164.500, with a retest of the area. It also formed a very negative candle on the daily chart. with a downward trend. There is a lot of pressure from the sellers to bring the market down. To 160,000 levels in the first stage. And level 158.000 good luck. Note: If you like this analysis, please give your opinion on it. in the comments. I will be happy to share ideas. Like and click for free content. Thank yo
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 ❕❕❕
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.
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.
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.
GBPJPY - Short after taking BSL ✅Hello traders!
‼️ This is my perspective on GBPJPY .
Technical analysis: Here I see price to continue the retracement to fill the imbalance higher, as well to take all possible buy stop liquidity. I look for a short if price rejects from bearish order block + institutional big figure 165.000.
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#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.
20 Reasons For Sell GBPJPY 🔆MULTI-TIME FRAME TOP-DOWN ANALYSIS OVERVIEW☀️
1: ✨Eagle eye: Extremely Bear, But Current Move is lower high
2: 📆Monthly: Clear bull trend at monthly
3: 📅Weekly: A strong Order block at the previous top after its price goes higher low, low trend confirmed at weekly
4 🕛Daily: A clean intra-bear trend and inner structure make a choch, so officially at daily tf right now, bearish
😇7 Dimension analysis
🟢 analysis time frame: Daily
5: 1 Price Structure: bear
6: 2 Pattern Candle Chart: change in Guard correction
7: 3 Volume: High volumes on bearish candles good for the bear
8: 4 Momentum UNCONVENTIONAL Rsi: Resistance at 60 but current momentum sideways
9: 5 Volatility measure Bollinger bands: Squeeze
10: 6 Strength ADX: Bears are gaining strength
11: 7 Sentiment ROC: JPY is much stronger than GBP,
✔️ Entry Time Frame: H1
12: Entry TF Structure: Bigger structure is extremely bearish
13: entry move: waiting for an impulse move
14: Support resistance base: premium OB
15: FIB: waiting
☑️ final comments: sell At 5 min choch
16: 💡decision: sell
17: 🚀Entry: waiting for confirmation
18: ✋Stop losel:162
19: 🎯Take profit: 151
20: 😊Risk to reward Ratio: 1:7
🕛 Excepted Duration: 20 days
GBPJPY Trading Plan - 26/Mar/2023Hello Traders,
Hope you all are doing good!!
I expect GJ to go Up after finishing the correction.
Look for your BUY setups.
Please follow me and like if you agree or this idea helps you out in your trading plan.
Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management.
Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea.
GBPJPY - FUNDAMENTALS WITH SECHNICAL BIAS#GBPJPY
- According to the GBPJPY analysis we gave the previous day, the GBPJPY SELL SIDE WAVE was moving very well in the previous days. The reason for that was FUNDAMENTALLY STRONG JP10Y STRONG JPY STRONG causing GBP WEAK. And because the MARKET SENTIMENT is STRONG. XXXJPY has been selling very fast since last week.
- JPY has become somewhat STRONG as VIX is slightly UP. Due to this, STOCKS and XXXJPY CURRENCY were slightly SELL. GBPJPY also SELL because of that. But now there is a bit of RISK ON BIAS. Therefore, GJ can be BUY in the future.
- Currently, GBPJPY LONG TERM can move up to the LEVEL of 159.78. Also, according to the GBPJPY STRUCTURE, it can move up to the 167.38 RESISTANCE LEVEL before SELL.
Therefore, attention should be paid to MARKET UPDATES and MARKET SENTIMENT. Currently, the MARKET is somewhat RISK ON. Therefore, XXXJPY will be a BUY in the future. Therefore, pay attention to the CURRENT MARKET SENTIMENT.
GBPJPY top-down analysisHello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.