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Gbpjpyprediction

GBPJPY: Price action and potential setupsGBPJPY remains choppy from a price action perspective with higher highs followed up by lower lows. Much like USDJPY both bulls and bears seem to lack conviction at this stage with the descending trendline growing more vulnerable with each retest. As its stands and barring any intervention a break above the trendline is growing more and likely as the 100-day MA provides support to the downside. resting around the 181.774 mark. Key Levels to Keep an Eye On: Support levels: 181.77 180.00 178.33 Resistance levels: 183.00 184.06 186.72
Long
by Sphyn-Trader
1
GBPJPY: Hello traders! The return of Sphyn♦️ Wage pressure in the UK eases, the pound weakens compared to the euro and dollar 🔹 Oil prices stabilized thanks to hopes that the US will ease sanctions on Venezuela ① Oil prices stabilized on Tuesday after falling more than $1 on Monday. US crude oil is currently trading around 86.95 USD/barrel, down about 0.1%. Markets expect the US will ease sanctions on oil-producing Venezuela and Washington is stepping up efforts to prevent the Palestinian-Israeli conflict from escalating. ② Multiple sources said Monday that the Venezuelan government and opposition plan to resume long-stalled negotiations on Tuesday; President Maduro said this would benefit the 2024 election, a move that could prompt Washington to ease sanctions. ③ Oil prices rose sharply last week on concerns that the conflict in the Middle East could widen, with Brent crude prices rising 7.5%, the largest weekly increase since February. ④ US President Biden will visit Israel on Wednesday. Israel is preparing to escalate its offensive against Hamas militants, sparking a humanitarian crisis in Gaza and raising fears of a wider conflict with Iran. ⑤ ANZ Research said in a report on Tuesday, "Risks remain, with Iran's Foreign Minister warning that the war could expand to other fronts and is approaching the inevitable stage ." ⑥ The Biden administration is looking to increase oil flow to the global market to ease high oil prices. But due to a lack of recent investment, it will take some time for Venezuela to actually increase oil production.
Long
by Sphyn-Trader
2
GbpJpy- Drop ofter confluence resistance test?In my previous analysis on GbpJpy, I said that the pair could rise and test confluence resistance at around 183. Friday's close found the pair exactly in that level and after the gap from Monday's open, the pair continued down. At this moment the pair is trading in the support given by the recent ascending trend line and a break above this level is probable. In such an instance, continuation is probable and the paint could reach the previous low. I'm bearish as long as the price stays under 183
Short
by Mihai_Iacob
4
700 Pips Sell TP hit in GJ, now time for buys?Hello traders, in my previous ideas in GBP/JPY last month, I recommended selling the rallies in each of my ideas. In fact, my first sell entry was at 185.50 level with target at 178(link to the previous idea attached below). So, whoever followed it has made over 700 pips profit. 📌Currently, GBP/JPY is around the 100-day EMA level which might offer some support. 📌Yesterday's daily candlestick already has a long wick at the bottom. 📌If the daily candlestick ends above 180 today, there is a good chance of a resumption of uptrend in GBP/JPY.
by MarcellusLUX
GbpJpy- Keep a close eye at 183.50 zoneAfter the high for the past 5 years close to 187, as it was normal, GbpJpy started to correct. Recently, the pair reached the 181 zone and here we have a small double-bottom, with its neckline broken yesterday. This suggests a continuation to the upside and a rise around the 183.50 zone. However, considering that this level acted both as support and resistance in the past 2 months and also is confluent with the falling trend line from the top, traders could look for opportunities to sell, in anticipation of a new leg down. The target could be set in recent's low zone and negation comes with a daily close above 184.50
Short
by Mihai_Iacob
7
GBP/JPY may fall if the confluence of resistance holdsHello traders, GBP/JPY is currently at a very crucial level on the 4Hour chart. Let's look at the chart and analyze it 📌In the 4Hour chart, price is currently just under the dynamic resistance. So far, we have not seen any bearish candles. However, the next candles could be bearish. 📌Price is also at the broken support turned resistance level as I have indicated in my chart. 📌So, in case of bearish price action in the highlighted zone, selling GBP/JPY@182.60-182.85 with SL above 183 and TP at 180.83 would be a potential sell trade.
by MarcellusLUX
GBP/JPY on it's way to 179 level. More decline aheadHello traders, ever since GBP/JPY was at 185, I had recommended selling with a target of 179( previous GBP/JPY ideas attached below). 📌Currently, the price action is quite bearish even in the hourly chart. 📌GBP/JPY is unable to go above the 100-hour moving average which is a bearish signal. In fact, every time the price pulls back to the 100H EMA, we see further drops. 📌 Based on the above factors, GBP/JPY is all set to fall to the 179 level in the coming days. My recommendation is to sell the rallies in GBP/JPY.
by MarcellusLUX
3