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Gbpjpyforecast

SELLING GBP/JPY from 1.9268 (again! for the 4th time this week)Pivots are the most significant indicator for how I trade. I cannot understand why EVERY trader, no matter what their approach is, wouldn't use weekly pivots. The beauty of pivots is that they are the ONLY indicator that is set at the start of the week so you know where the price is in relation to the pivot days before the price gets there. This week on GBP/JPY we have seen price hit the WR1 (Weekly Resistance 1 key pivot level) 3 times and I've shorted the pair each time and banked shed loads of pips. Price is back at WR1 for the 4th time this week and as we KNOW there are SELLERS at this level then SHORTING this pair again is a no-brainer. No other analysis is really needed though we do have other SHORT confirmations with the red SELL line of the Andean Oscillator rising from 0 on H1 and both RSI and MACD are declining. The only question is - where do I bank the profit? The 200 EMA (H1) has been a bridge too far for GBP/JPY BEARS so I'm setting my t.p. at 192.00 though if the momentum is strong and the BEARS are pushing to break thsi key level then 191.31 would be the next target which would be WPP Pivot and this sits above the 200 EMA on H4. With all that said, this is forex and there are no guarantees and anything can happen. We could see another drive back to WR1 so we still need to get the position to break even as soon as possible and then if the price does head back north we would look to SHORT from however high the BULLS push the price but I can only see SHORT trades for this pair for the rest of the week.
Short
by forextraplaces
SELL GBP/JPY from 192.74I've twice banked pips shorting GBP/JPY from the WR1 pivot this week and as can be seen the price is back at this level. We have a nice tweezer double top on H1 for the previous 2 candles and as SELLERS are clearly prepared to move into this market from this level, it looka good SHORT opportunity. However. The Andean Oscillator is not yet clearly giving a SELL signal. The green BUY line has slipped under the signal line (.656 signal line/.647 green BUY line) but the red SELL line remains ar zero on H1 although it is above zero on the 15M MACD on 15m has the fast MA moving beneath the slow which is a BEARISH sign. RSI has been in high 60's and is gradually declining. This trade is RISKY!!! We do not have enough signals to confirm that this pair is headed lower but as we've seen SELLERS enter the market twice this week, the expectation is they may enter again. It should be noted though that the GBP C.P.I. print came out in green and this has boosted all GBP pairs. This was 4 hours ago however and all BULLISH momentum has stalled. We have a natural STOP on this trade at 192.86 so its a cheap trade at only 15 pips. Target is 200 EMA at 191.87 though the price of this pair has been bouncing around all week so the trade will have to be carefully managed in order to maximise any gains.
Short
by forextraplaces
GBPJPY Technical Analysis and Trade IdeaIn our video, we explore the technical analysis and a trading concept for the GBPJPY. Our assessment indicates a potential trade opportunity. We'll analyze the current price action, closely examine market structure, and factor in market dynamics, and identify a potential entry point guided by favorable conditions. Nonetheless, it's essential to emphasize the importance of sound risk management strategies. Please bear in mind that this video serves purely educational purposes and should not be interpreted as financial counsel.
Long
by fxtraderanthony
2
GBP/JPY - Potential Upside Opportunity from Key Support LevelKey Support Level Analysis: GBP/JPY currently finds itself positioned at a crucial support level, indicating a potential opportunity for upward movement in the market. This support level, identified at 190.400, has historically demonstrated a significant influence on price action. Entry Strategy: Traders looking to capitalize on the anticipated upward movement may consider entering the market upon a re-test of the support level at 190.400. This re-test serves as a confirmation of the support's strength and validates the bullish bias. Risk Management: To mitigate potential losses, a prudent risk management approach suggests placing a stop loss order at 189.380. This level serves as a safeguard against adverse price movements and aligns with the technical analysis framework. Take Profit Targets: Three distinct take profit targets offer strategic exit points for traders seeking to maximize profit potential: 1. Take Profit 1 (TP-1): Positioned at 191.475, TP-1 represents an initial profit-taking opportunity as the upward momentum gains traction. 2. Take Profit 2 (TP-2): Set at 192.500, TP-2 reflects a continuation of the bullish trend, capturing additional gains as the price trajectory unfolds. 3. Take Profit 3 (TP-3): Targeting 193.500, TP-3 serves as a more ambitious profit target, accounting for potential extended upward movement in the GBP/JPY pair. Disclaimer: Trading forex carries a high level of risk, and individuals should carefully consider their risk tolerance and financial situation before engaging in any trading activities. It is advisable to seek advice from a qualified financial advisor before making any investment decisions.
Long
by trading_jupiter
GBP/JPY Key levels for buying +250 Pips potentialHello traders, GBP/JPY has been sliding lower for the last few days. What's even more interesting if the fact that price has constantly stayed below the 100-hour moving average for quite some time now. That being said, there is a possibility of a rebound in GBP/JPY Traders waiting to buy, must wait for the price to break the 100-hour moving average level with a strong bullish impulse. Subsequently, the levels to target would be 191.40, 192.26 and 193.60
Long
by KaltoireCapital
11
GBPJPY I Potential pullback to support and more growthWelcome 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!
Long
by BKTradingAcademy
2
GBP/JPY may reach 195-196 from where it can reverseHello traders, GBP/JPY's uptrend shows no signs of slowing down. As we had predicted in the previous idea, price has broken through the 191 level and currently it has crossed 193 as well. The uptrend is being fueled by the ultra-low interest rates in Japan which is weighing negatively on the JPY. That being said, there is a key level at 195.50-196 zone which could offer resistance. Keep in mind that a vast majority of retail traders as shorting GBP/JPY which means price can continue to move up as the market usually moves opposite to what the retail does. We have not taken any short positions in GJ. We are waiting to see whether price reaches the 195.50 level. In case of bearish price action, we will sell GBPJPY@195.50-196 with Stop loss above 197 and TP at 190, 185.
by KaltoireCapital
14
#GBPJPY: Yesterday's idea 200+ pips up| Here is second entry | OANDA:GBPJPY yesterday's idea did the exact same thing as had expected right now the pair is up 200+ PIPS, we are anticipating a small correction in the price, where we think price will bounce back strongly. Wait for price to approach our level and then enter a buy entry accordingly. Remember to use proper risk management and take this idea as bias only. If you do not agree then do not take. Good luck and trade safe.
Long
by Setupsfx_
19
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