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Gbpjpyprediction

GBP/JPY Trading plan( FOMC + BOJ Policy Rate on Friday)With FOMC coming up later tonight and BOJ monetary policy statement on the early hours of Friday, it is going to be a blockbuster week for GBP/JPY and other Yen pairs as well. To be honest, I would recommend traders to take this week off. However, for those still interested in trading, I am sharing my trading plan. 📌Right now, GBP/JPY looks like it may rise further if it is able to break the 183.50 level. 📌If price drops during or after the major news events towards 179.50, I would try a buy trade with small lot with entry@179.50, SL: 178.80 and TP at 183. 📌If price spikes to 186 or higher during the major news events, I would prefer selling.
by MarcellusLUX
2
Short-term pullback possible in GBP/JPY, buy or sell?Hello traders! GBP/JPY seems to have found some support near the 182.65 level. 📌Price has not gone below 182.65 despite multiple attempts by the bears to break it. So, 182.65 can be considered a minor support. 📌If the minor support level holds, we can expect GBP/JPY to pullback towards the 4H EMA level near 184 or even 184.70. 📌However, I do not recommend traders to buy GBP/JPY as the daily and weekly trend indicates that price can fall further towards 179. My recommendation is to wait for a pullback and then sell if GBP/JPY reaches the 184.70-185.20 level.
by MarcellusLUX
3
GBP/JPY may fall further to 179 levels, trade wiselyHello everyone! GBP/JPY's bullish rally has run out of steam and price is slowly descending to the downside here. 📌At present, we are noticing the formation of a wedge-like pattern in the daily chart of GBP/JPY. 📌Despite this, the uptrend may be short-lived as price may fall to 179 in the coming days. 📌My recommendation is to sell the rallies in GBP/JPY. If price spikes to 184 or 185 levels, I would consider selling GBP/JPY
Short
by MarcellusLUX
2
GBPJPY: JPY traders attempt a recovery!The GBP/JPY pair slid to a new five-week low after touching 182.51 on Thursday, falling off 184.00 in the final trading session of the week. The British Pound (GBP) has struggled to develop further momentum against the Japanese Yen (JPY) recently, with the Guppy marking a move towards the 50-day Simple Moving Average (SMA) after failing to maintain maintained the key level of 186.00 at the end of August. GBP/JPY marked its 2023 low in early January when the pair traded into the 156.00 region. GBP has done a good job of taking advantage of JPY's weakness since then, with Guppy still up around 17.50% on the year.
Short
by Sphyn-Trader
8
GBPJPY: focus on the UK GDP releaseThe BoE has actually adopted a more cautious stance recently, as is clear from Governor Andrew Bailey's statement that the central bank is approaching the peak of its interest rate hike cycle. Despite persistent inflationary pressures, the BoE faces a delicate balancing act, as being too aggressive with interest rate hikes could endanger the UK economy. SELL GBPJPY zone 184.400 - 184.500 Stoploss: 184.850 Take Profit: 183.700 (backtest breakout) Take Profit: 183.000 (support zone)
Short
by Sphyn-Trader
6
GBPJPY: So perfect chart!The GBP/JPY pair is on track to end the day close to its starting point, as market fluctuations caused the Guppy to trade back and forth due to changing sentiment. Traders of Pound Sterling (GBP) are preparing for a data-heavy economic calendar in the United Kingdom (UK) during the first half of the week. Meanwhile, broad-market support for the Yen (JPY) has increased following comments from officials at the Bank of Japan (BoJ) over the weekend, suggesting that negative rates may come to an end in Japan.
Long
by Sphyn-Trader
1
GbpJpy- More than 500 pips selling opportunity2023 was a very strong year for GbpJpy, with the pair rising more than 3k pips, exceeding my target of 180 as explained in both my 17th of January 2022 and 20th of April 2022 long-term analysis. Although the pair remains in an up trend, for a month now, GbpJpy has failed on 186, unable to make a new high, leaving long up-tailed weekly candles. This suggests that a top could be in place and a much-needed correction could follow. With this in mind, I will look to sell rallies for a medium-term trade with a 500 pips target. A new high would negate my outlook. My previous long-term analyses for GbpJpy:
Long
by Mihai_Iacob
13
GBPJPY Long Term Buying Trading IdeaHello Traders In This Chart GBPJPY HOURLY Forex Forecast By FOREX PLANET today GBPJPY analysis 👆 🟢This Chart includes_ (GBPJPY market update) 🟢What is The Next Opportunity on GBPJPY Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
Long
by ForexPlanet20
GBPJPY Long Term Buying Trading IdeaHello Traders In This Chart GBPJPY HOURLY Forex Forecast By FOREX PLANET today GBPJPY analysis 👆 🟢This Chart includes_ (GBPJPY market update) 🟢What is The Next Opportunity on GBPJPY Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
Long
by ForexPlanet20
Will GBP/JPY fall to 178?Let's analyze the daily chartHello everyone, GBP/JPY made yet another attempt to break the resistance level yesterday but the attempt was not successful. 📌Price has already fallen more than 100 Pips today. If the daily candle ends today with a bearish candlestick pattern, we can expect further fall in GBP/JPY. 📌183.46 is a moderate support level which if broken, would open the path towards 178. 📌My recommendation is to sell the rallies in GBP/JPY.
Short
by MarcellusLUX
4
GBPJPY the monthly : price is fully bullish, we can see that it broke the strong supply and demand zone. weekly; price broke and retraced to the broken supply and demand zone, there are two candles rejecting the zone so I'm expecting a retracement to the downside and then a bullish continuation. daily; The trend is fully bullish there is also a high momentum and we also have the SMA's confirmation of a strong bullish trend, so I'm only looking for buys 4h; There is a probability of price retracing then continuing the bullish trend or breaking and retesting the zone either way ill be looking for a long trade after seeing some shrinking candles on the zone with some rejections and a hammer candle as a confirmation to look for my entry on the lower timeframe RM; sl; below the rejections tp; next s/d zone R; 3:1 minimum
Long
by Ily14
1
GBP/JPY's 30-Minute Support and ResistanceIn the intricate realm of forex trading, precision is paramount. Each level, each movement holds a crucial piece of the puzzle. Let's delve into the technical intricacies shaping the journey of the GBP/JPY pair within the 30-minute timeframe. Finding Ground: Dual Support Levels Amid these critical minutes, GBP/JPY locates its footing with not one, but two support levels: Primary Support - 183.706: This serves as the initial anchor for the pair, providing a foundation that potential rebounds and recoveries can build upon. Secondary Support - 183.300: A backup in case the pair faces increased pressure, this level bolsters its potential to resist further downward movement. Conquering Challenges: Resistance Unveiled However, the path forward is punctuated with challenges. The pair encounters a single resistance point, serving as a barrier that demands an earnest effort to overcome: Resistance 1 at 184.790: This pivotal point marks the primary hurdle for GBP/JPY's upward ascent. A successful breach could signal a shift in market sentiment, opening doors for potential further gains. Insights to Navigate: Charting the Course For traders and keen observers, the interactions between GBP/JPY and these support and resistance levels are a treasure trove of insights. Each movement, each break, holds significant clues about the prevailing market sentiment. The dual supports at 183.706 and 183.300 create a resilient platform, offering opportunities for potential recoveries. Yet, the challenge presented by the resistance at 184.790 underscores the need for a concerted effort to drive the pair upward. As time ticks within this 30-minute span, the movements of GBP/JPY unfold like a compelling narrative. The interplay between support and resistance, between the ambitions of buyers and the strategies of sellers, forms a dynamic storyline that traders keenly follow, seeking to uncover the short-term trajectory of this captivating currency pair.
by enclavefx_Analaysis