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Gbpjpylong

GBP/JPY at a critical point: Buy/Sell or do nothing?GBP/JPY is at a critical level. In the daily chart, you can see that price is quite overstretched and a correction is necessary. However, in the 4H chart, price has rebounded from the dynamic support in the 168 level. So, it is important to exercise some caution. 168 is the key level. If this level holds, then price may continue to keep going higher. However, if 168 breaks with a strong bearish candle, we can see a fall till 165. My personal recommendation is to wait and watch. I would consider selling if GBPJPY reaches 172 again because that level has been established as a resistance. Initial TP would be at 168
by YourLazyTrader
2
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
GBP/JPY Rises to new 2023 peakSTRATEGY LONG British Pound Sterling Japanese Yen traded at 171.115 this Friday April 28th, increasing 3.864 or 2.31 percent since the previous trading session. Looking back, over the last four weeks, GBPJPY gained 4.63 percent. Over the last 12 months, its price rose by 4.84 percent. Larger bulls are likely to take a breather in coming sessions as 14-d momentum and RSI are at the border of overbought zone, suggesting that traders may collect some profits from three-day rally which accelerated on Friday. Pullback should offer better buying opportunities, with extended dips expected to find support above 168.00 zone (broken Fibo 76.4% level at / former tops of Apr 19/25) to keep bulls in play. Res: 170.00; 170.95; 172.11; 174.98. Sup: 137.00; 168.36; 168.00; 167.18.
Long
by DaveBrascoFX
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
GBP-JPY| LONG SETUP|POSSIBLE REVERSAL|FALLING WEDGE|ONE HOURGBP-JPY is moving in a bearish direction. It appears that there is a formation of Falling Wedge Reversal Pattern as well as presence of the Divergence. In this case, this Forex instrument can take a possible reversal from its current price position. Therefore, a long trade setup is suggested in this chart in case of breakout from the Lower High mentioned in the chart. Risk must be taken up to 2% of the total portfolio.
Long
by haroonsiddiki