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Gbpjpyshort

GBP/JPY LOOKING BEARISH!We can clearly see this pair is in a BEARISH Trend by looking at the Daily timeframe. Switching to the 1 Hour Timeframe, I can get a better picture of when I need to enter this market. Price has tested the Pivot all week and continues to bounce between it and a strong support at 181.250. MACD showed me a cross, RSI is under the MA and price is under all of my EMA's for added confluence. Entry - 181.785 TP- 181.250 SL-182.035 Hoping for a little over 50 pips for this trade! Cheers! FX:GBPJPY
Short
by Lady_Pippin
1
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
GBP/USD Dips, Awaits UK CPI DataGBP/USD faced consecutive losses, trading around 1.2160 in Asian markets on Wednesday. Positive US economic data applied pressure. The pair retreated after reaching 1.2200, the 23.6% Fibonacci retracement level, the 50 and 100-day Simple Moving Averages (SMAs) confirming significant resistance. The 4-hour chart's Relative Strength Index (RSI) dropped to 40, indicating accumulating bearish momentum. Immediate support lies at 1.2130 (static level). Closing below it in the 4-hour timeframe could bring further selling pressure, possibly testing temporary support at 1,2100 (static, psychological level) before targeting 1,2050, the recent downtrend's endpoint. If GBP/USD rises above 1,2200 and confirms it as support, it could aim higher towards 1,2250 (static) and 1,2300 (38.2% Fibonacci retracement level). The pair reversed its trend after breaching 1,2200 on Monday, dropping to the 1.2150 region on Tuesday. Short-term technical outlook indicates bearish momentum and potential additional losses if the 1,2130 support fails. US Retail Sales data for September is on the economic horizon, with a negative surprise possibly impacting the USD. However, GBP/USD might stand firm unless a significant, positive market sentiment change occurs. Stay tuned for updates on this evolving situation.
by Gwen_Humuna
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; Massive Head & Shoulders forming on the Weekly!A massive Head & Shoulders formation on the Weekly chart (and, obviously, on the daily), forecasting a -9% plummet in this pair upon completion . (I.e. It will have to break down, first!) There are a host of reasons why a total break down in this pair would be fundamentally justified, as well, but to highlight a few, in lead words: - Cheap continental (EU) capital flow has long ceased - Brexit; - Since 1990, while ~40% of EU manufacturing profits have "trickled down" to the "average Joe"s the same wealth transfer was limited to only ~8% of the UK's population. (E.g. Germany financed virtually all of the British capital expansion in the last 30 years which Britain freely squandered away, permanently.) - Probably the most interesting/significant factor is this: IFF A.I. fulfills even a fraction of the "hopes" attributed to it's recent rise and practical promises (GPT-x, etc.), interestingly enough Britain is in the "sweet spot" to be the most devastated by any value added by the "A.I. revolution"! (We have conducted an extensive, multi-month research project before arriving to this conclusion. Time allowing, we will attempt to include the most practical/trading related aspects of those results here.) - Japan continues to come out of it's 30 year slumber and there are tangible signs of continuation of this progression. Also, in the presently unfolding multi-polar "new world order" the undeniable winning block will be most likely the NAFTA + Japan "manufacturing & trading block". At present, the two fastest developing regions of the world are; 1) Texas + Northern Mexico; 2) Japan + S.E. Asia (while China's problems remain well out of reach for any solution - I.e., demographics, etc.) We are actively looking for a Short Entry at these levels. Here is a closeup - Daily;
by Nemo_Confidat