GBP/JPY on Edge: Will It Break Below 196.7?The GBP/JPY pair remains bearish below the October 23 low of 198.4. If prices fall below the 196.7 support, the next target is September's low of 195.4. A move above 198.45 would negate this bearish outlook.
Support levels: 196.7, 195.4 Resistance levels: 198.45, 200.0
Article : fxnews.me
Gbpjpysignal
#GBPJPY: UPDATED VIEW 24/10/2024 **GBPJPY UPDATED VIEW BASED ON PREVIOUS ANALYSIS**
Dear Traders,
I hope you are doing well. Based on our previous analysis of GBPJPY, we identified two potential selling opportunities within the market.
However, the bullish sentiment in the DXY currency pair has had a significant impact on JPY, causing it to fall short of its full value within the daily timeframe. As of today, we have observed a potential exhaustion of DXY’s bullish momentum, with four-hour candles indicating a strong bearish pressure. This development presents an opportunity for JPY to rebound, potentially allowing us to secure substantial profits within the market.
Now, let’s focus on the GBPJPY currency pair. The price has extended its bullish trend, although there is a possibility of a reversal from its current position. We recommend implementing appropriate stop-loss orders for any sell entries taken from the current market price. If the initial entry fails, we are confident that the price is likely to reverse from our second entry.
Before making any decisions based on this analysis, it is essential to conduct your own research. This analysis is solely for educational purposes and should not be considered financial advice.
We appreciate your feedback and support. If you find our work valuable, please consider liking and commenting on our ideas. Additionally, following us will provide us with encouragement and motivation.
Best regards,
Team SetupsFX_
GBPJPY Eyes Stability as BoJ Plans More Rate HikesFxnews —The immediate support is at 198.45. A new consolidation phase could potentially form if GBP/JPY closes below 198.45.
If this scenario unfolds, the price could dip to the 23.6% Fibonacci retracement level at 197.3, supported by the 100-period simple moving average.
GBPJPY "The Guppy" Bank Money Heist Plan on Bullish SideOla! Ola! My Dear Robbers / Money Makers & Losers, 🤑 💰
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GBPJPY Top-down analysis Hello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
GBP/JPY Consolidation Tightens: Bulls Eyeing a Break Above 195.7After a strong correction and finding a bottom at 180 in early August, OANDA:GBPJPY began to recover, initially rising to the 193 zone.
Another leg down followed, but this time, bulls regained control at the 183.90 level, forming a higher low supported by a double bottom pattern.
The next upward move stalled at the 195 resistance, and the pair has since entered a consolidation phase.
However, the recent consolidation range is tightening, and it appears that the price is gearing up for an upward breakout.
I am slightly bullish on this pair, and a break with a daily close above the 195.70 resistance level would confirm this outlook, potentially leading to further gains toward the key 200 zone.
In the short term, interim resistance around 198 could also serve as a target for bullish traders.
GBPJPY sell signal. Don't forget about stop-loss.
Write in the comments all your questions and instruments analysis of which you want to see.
Friends, push the like button, write a comment, and share with your mates - that would be the best THANK YOU.
P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade
GBPJPY breakout?GBPJPY after forming multiple Liquidity Candle started to breakout from the resistance. As it is a long term bull market, lower timeframe currently aligning with the higher timeframe and 4h candle is currently closing above the resistance line. We may see potential breakout and may continue to bounce to daily resistance line.
As of with liquidity flow is bullish, we are on a bullish trade expecting to bounce with the upcoming news announcement.
GBPJPY: 1st Trade Of The Week Hit Final Target. What's Next?My Bullish bias hasn't changed. GJ hasn't found a ceiling yet so we're still looking for buys.
Our first trade was successful, giving us +100 pips. Now we are looking for some type of correction, pull back or bullish flag, then a continuation up.
Key Res around 196
Key Sup around 194.56
I will try to update if I decide to take a trade.
GBPJPY "The Guppy" Bank Money Heist Plan on Bullish SideHallo My Dear Robbers / Money Makers & Losers, 🤑💰
This is our master plan to Heist GBPJPY "The Guppy" Bank based on Thief Trading style Technical Analysis.. kindly please follow the plan I have mentioned in the chart focus on Short entry. Our target is Green Zone that is High risk Dangerous level, market is oversold / Consolidation / Trend Reversal / Trap at the level Bullish Robbers / Traders gain the strength. Be safe and be careful and Be rich 💰.
Note: If you've got a lot of money you can get out right away otherwise you can join with a swing trade robbers and continue the heist plan, Use Trailing SL to protect our money 💰.
Entry : Can be taken Anywhere, What I suggest you to Place Sell Limit Orders in 15mins Timeframe Recent / Nearest Swing High
Stop Loss 🛑: Recent Swing High using 2h timeframe
Warning : Fundamental Analysis news 📰 🗞️ comes against our robbery plan. our plan will be ruined smash the Stop Loss. Don't Enter the market at the news update.
Loot and escape on the target 🎯 Swing Traders Plz Book the partial sum of money and wait for next breakout of dynamic level / Order block, Once it is cleared we can continue our heist plan to next new target.
Support our Robbery plan we can easily make money & take money 💰💵 Follow, Like & Share with your friends and Lovers. Make our Robbery Team Very Strong Join Ur hands with US. Loot Everything in this market everyday make money easily with Thief Trading Style.
Stay tuned with me and see you again with another Heist Plan..... 🫂b
GBPJPYSince we got many questions regarding GBPJPY here is our overall view on it.
GBPJPY has been struggling to break an important KL (Key Level) 195.971 . As of now we are trading below that KL. Breaking above it would give us a nice opportunity to enter in buys . However , if we continue to trade below 195.971 , and failing to break it, we could see more downside on the pair. Breaking below 193.990 and 193.290 would give us a nice opportunity to sell , possibly all the way down to the bottom of the range where our PBA 1 is sitting at roughly around 190.000 .
As of now there is no clear indication for buys or sells. Be patient and remember, sometimes the best trade is no trade at all.
We will be patiently waiting on breaks of our mentioned levels and we will post an update accordingly.
KEY NOTES
- GBPJPY is trading below an important KL.
- Break below 193.990 and 193.290 would confirm sells.
- Break above KL (195.971) would result in higher highs and confirm buys.
- No trade opportunity now, breaks should be waited on.
We would also like to take this chance to thank all of you for your support!
Happy trading!
FxPocket
GBPJPY sell signal. Don't forget about stop-loss.
Write in the comments all your questions and instruments analysis of which you want to see.
Friends, push the like button, write a comment, and share with your mates - that would be the best THANK YOU.
P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade
#GBPJPY: Is it correction for Bears or change of character? Dear traders,
GBP/JPY has experienced a significant correction. The price reached the 195 level before declining to the 190 level. Currently, the price is fluctuating around 193.68, and a potential upward movement may extend to approximately 197 or 198. If the price disregards this range and breaks out to a higher level, we have identified a secondary entry point that offers a safer entry for risk-averse traders. Additionally, it is crucial to monitor the performance of the US Dollar Index (DXY), as its bullish trend can negatively impact the Japanese yen (JPY), leading to a surge in all JPY pairs to new highs. Therefore, close attention should be paid to the DXY's performance.
In our professional opinion, the price has formed an "AB=CD" pattern. Furthermore, an examination of the 4-hour timeframe suggests the possibility of a character change. Should this occur, we will provide an update. Please conduct your own research before executing any trades, as this chart is solely for educational purposes.
We appreciate your support by liking and commenting on our idea; it serves as an encouragement to our team.
Thank you.
Team Setupsfx_
GBPJPY sell signal. Don't forget about stop-loss.
Write in the comments all your questions and instruments analysis of which you want to see.
Friends, push the like button, write a comment, and share with your mates - that would be the best THANK YOU.
P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade
#GBPJPY 1HGBPJPY 1-Hour Chart Analysis
Pattern Identified: Bearish Market Bias with Focus on Selling at Pullbacks
Forecast: Sell
Outlook for Next Week: Good Luck
On the 1-hour chart of GBPJPY (British Pound/Japanese Yen), the market is showing a clear bearish bias, with sellers in control of the overall price direction. In this environment, the primary strategy will be to focus on selling opportunities during pullbacks. These pullbacks are temporary upward movements that retrace part of the decline before the bearish trend continues.
By identifying key resistance levels and zones where price retraces, traders can prepare to enter short positions when the upward retracement weakens and the price resumes its downward move. This approach aims to capitalize on the prevailing downward momentum while avoiding entering trades at potential lows.
Actionable Insight: Traders should be patient and vigilant for signs of pullbacks towards resistance levels or Fibonacci retracement zones. Once price hits these areas and shows signs of resuming its bearish trend, it can provide an optimal entry point for a sell trade. Using tight stop-loss orders above resistance areas or retracement highs can help manage risk effectively.
Good Luck for the Next Week: Stay disciplined, and may your trading week be successful!
GBPJPY possible week ahead trajectory GBPJPY has strong drop past week with JPY news has broken out of the structure. The price is currently below the weekly support level as with the formation of a weekly pin bar, there still bearing momentum. We may see further downside with GBPJPY, may drop to weekly support and could continue to bounce back to 194.25 level with strong momentum.
GBPJPY Top-down analysis Hello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
GBP/JPY Short Setup: Bearish Opportunity on RetestWe’ve seen a strong upward move in GBP/JPY, but the price is now breaking below the ascending trendline, signalling potential bearish momentum.
Entry Strategy: I’m looking to enter on a retest of the broken trendline near the 192.58 zone, once confirmation of rejection occurs.
Trade Levels:
Stop Loss (SL): 194.000
Take Profit (TP1): 190.131
Take Profit (TP2): 188.685
Take Profit (TP3): 186.672
Take Profit (TP4): 183.762
Risk management is key. Be patient and wait for the retracement entry and confirmation before entering the trade.